Back in May we told you that FactSet was teaming up with SumZero, an online community for investment ideas, to throw a quarterly idea competition with up to $160,000 up for grabs.Well now we have our first round of winners.
In first place we have Michael Wood, a 24 year-old Toronto resident and portfolio manager at Evans Investment Council. He beat out a load of more seasoned investors with his long thesis on Samsung, in which he reasoned that the stock could return 145%.
For his efforts, he'll take home $15,000 and get to talk about his idea on CNBC's Fast Money Halftime report on Friday.
Woods' pitch was pretty simple: "At today's prices, Samsung Electronics is trading at 9.5x 2015 operating profit of the memory business, ascribing $0 value to IT & mobile, display and home appliance businesses."
We have the thesis for you after the jump.
In the meantime, you should know what the second and third place winners pitched. Second place winner Siddharth Choraria of APS Asset Management in Singapore pitched Tsui Wah Holdings Ltd. Third place winner Joshua Kennedy of Sonian Capital Management in Boston, MA pitched Tingyi Holding Co.
You can check out their presentations over at SumZero, and learn more about the rules of the contest here.
See the rest of the story at Business Insider Reported by Business Insider 11 hours ago.