Twenty-two-year-old Chad-Anthony Coke made history by becoming the first student to win the annual Jamaica Stock Exchange Market Research Competition in its 18-year history.
Coke, a fourth-year business administration in finance student at Northern Caribbean University (NCU), was declared the joint winner of the competition along with Andre Rumble, Portfolio Officer at Proven Wealth Ltd. The competition was held on October 2, 2020, at the Jamaica Stock Exchange (JSE) office in Kingston, Jamaica. Both walked away with a cash prize of J$300,000 (US$2,075), in addition to a trophy.
The JSE 2019/2020 Market Research Competition, which was formerly known as the Broker Analyst Competition, is one in which, each quarter, the JSE invites analysts from the securities industry, tertiary institutions, and the media to submit analyses of listed companies based on past performances and future expectations. Participants conduct research, perform analysis, and prepare submissions on the selected company using the JSE’s required format.
Winning the finals was not the only history-making moment for Coke, as he was also the first student to have ever won a quarter’s award when he won the fourth quarter in September, ahead of research analysts from some of the island’s top investment companies.
Some of the Market Research Competition’s objectives are to increase the interest and involvement of analysts and observers in the Jamaican stock market through in-depth analyses of the performance of listed companies. It also seeks to enhance the entrants’ research, analysis, and presentation skills, enabling them to understand the market better. It tries to benefit the investing public through increased exposure to market analysis and stimulate the interest and involvement of the wider public in the stock market.
“The competition gave insight on how to construct and carry out detailed investment research and analysis, which is something I never did before, up until this point, but had a general idea of how it should be done,” Coke said.
“It feels very humbling to be the first student to win the competition, in which I am nothing short of being extremely grateful,” Coke said. He thanked the JSE for extending the reach to industry professionals and tertiary education students to vie for the ultimate prize. “I encourage other students to enter the annual competition,” he said.