Ten teams from throughout the Global Network for Advanced Management (GNAM) took part in the six-month contest, which challenged students to assemble and manage a stock portfolio from companies based in their home countries. The winning team had the highest risk-adjusted returns over the six-month period.
ESMT Berlin achieved a 46.37% return, far ahead of second-place finisher, Renmin University of China, School of Business, which had a 14.54% return.
"Thankfully, the German equity gods smiled on us with a nice return and even better timing," said Thomas Miller-Jones ’15, a former ESMT Berlin MBA student who was on the winning team. "If only this could happen in our personal trading accounts."
Miller-Jones said his entire team knew that with just a six-month investment horizon, volatility would be a big factor in stock performance. "Chasing big beta and a hammered global giant in Volkswagen, and designing a portfolio correlated to the German auto industry were our answers in lieu of looking for fundamentally discounted stocks that can sometimes take years to recover," he said.