January 27, 2012

NAIT Finance Faculty Won Best Forecast Awards

January 25, 2012 marked the 34th annual forecast dinner hosted by the Edmonton CFA Society - an association of investment professionals. Each year in January, professionals like security analysts, investment advisors, and portfolio managers gather at the event to meet with members of the finance community over dinner and forecast presentations.

During the evening, members of the audience are invited to give their forecasts for the upcoming year on metrics such as oil prices, $US/$CAD exchange rate, Canadian and US equity indices, and bond yields.  Winners are announced at the following year’s forecast dinner.

This year, out of the over 250 investment professionals who made forecasts in 2011, two members of the Finance faculty won 2 of the awards for best forecast.  Max Varela won best forecast for the Canadian Equity Index - S&P/TSX: forecast of 12,243.74 vs. actual of 11,955.09. Hardeep Gill won best forecast for the $US/$CAD exchange rate: forecast of 97.89 vs. actual of 97.92. Ellen Wilson, Chair, Business-Continuing Education and formerly an instructor in the Finance program, was recognized as a runner-up for the overall best forecast award.

Congratulations!