Through The Fly's Eyes: Contest
Andrew Corn is a contributing editor for Theflyonthewall.com and the CEO of Clear Asset Management.
Clear Indexes: NEXT GENERATION ETF CONTEST
Clear Indexes LLC is calling on college students to take a hiatus from Margaritaville long enough to start thinking like the "other Buffet." We are moving their interest from the songwriter Jimmy, to the legendary "Oracle of Omaha," Warren Buffet. His training and success began early, at the age of 11 at his father's brokerage firm. Buffet's experiences as a precocious youth provided him the foundation and spark that led him to become one of the greatest investors of our time. Clear Indexes recognizes the potential of motivated students and the importance of fostering and rewarding intellectual curiosity.Much of this is based on our own experiences and based on the firm's track record of success with college interns.
This morning, Clear Indexes LLC launched the first of many competitions aimed at stimulating the creativity of young minds. The "Clear Next Generation ETF Contest" is challenging Lehigh, Columbia, and NYU students to analyze the markets to uncover new and differentiated investment opportunities. The contestcalls for up to five unique and investable ideas that can translate into indexes for Exchange Traded Funds. We also require an explanation of why each idea will be attractive to a range of investors.
We have received outstanding support from professors and career offices.
"Clear Indexes' contest offers a great opportunity for our students to utilize the financial and marketing concepts learned in the classroom and fire up their creative juices by designing an ETF that is original and adds value in the marketplace," said Richard J. .Kish, chair of Lehigh University's Perella Department of Finance. "It is just the type of contest that will energize a core group of students to test the marketplace in arisk-free environment."Ten honorable mentions will receive a gift, a letter, and the benefit of putting the contest on her resume. Two second place winners will receive $2,000 each. The Grand Prize Winner will win $4,000 and an internship at Clear Indexes. If the top idea is launched as a live ETF, the Grand Prize Winner will be invited to the exchange for the ringing of the opening bell. The deadline for the contest is November 26, 2007.
The ETF contest was created to benefit the students, Clear Indexes LLC, as well as the ETF issuers we work with. The inflow of fresh ideas will provide Clear exposure to a myriad of concepts and the opportunity to select the strongest investment thesis. Young and intelligent, although relatively inexperienced students have the potential to think outside the "Wall Street box." Clear Indexes has consistently given opportunities to college interns because we recognize the value in hiring people who are transitioning from being motivated by the lyrics of Jimmy to the siren song of Warren. We have experienced firsthand how determined, competent, and innovative college students can be and are excited to review the idea submissions.