CLICK HERE TO REGISTER NOW

CLICK HERE TO REGISTER NOW

Berkeley Investment Group and Valiant Capital Management are excited to present…

Official Timeline & Details

  • Application Release

    August 20th

  • Initial Memo Deadline

    October 12th

  • Final Round Invitation

    October 15th

  • Final Round Presentation

    October 26th

  • SOLO ONLY

  • SHORTS ONLY

  • EXPERT CALL PROVIDED

  • ALL EXPENSES PAID TRIP

Click Here to Register

How do you Source Shorts?

On sourcing shorts, one philosophy we at Valiant live by is: 'where there is smoke, there is fire'

With shorts, you will never know the full story! Management teams make sure of that - but you can often get glimpses! Here are some common red flags that Valiant typically looks for in short candidates:

  1. Significant management turnover.

  2. Shady or small scale auditors / auditor changes

  3. Stocks that are up significantly but have historically underperformed or struggled to grow

  4. Lots of related party transactions

  5. Been a target of lawsuits

  6. Shady reviews online (from employees or customers)

  7. Lots of profit but no cash flow

  • Tools like CapitalIQ allow you to screen for many of these characteristics! Go take a look. And these are just a few of the red flags you can screen for. There are many more!

  • It is the job of the analyst to decide whether to dive deeper or move on. None of these red flags are a thesis by themselves, but you can be sure that if two or three of these flags appear together, something is likely happening behind the scenes! Now go see and if you can figure it out

Here are some examples of short ideas that BIG and Valiant have worked on in the past. To be clear, we want these to be more of a source of inspiration rather than a template. We also note these did not have the same conditions, so you'll likely have to be more concise in your submission.

Examples: [BIG] JYNT SHORT MEMO , [VALIANT] GOWEX SHORT MEMO

Grand Prizes!!!

  • Superday for a Paid internship at Valiant

    Guaranteed superday to a paid internship at a Tiger Heritage hedge fund

  • Fully Paid Expert Call

    Lead a 1:1 call with a company of your choice, fully paid for by Valiant

  • Win a Share of $5,000 Cash Prize Pool

    Who doesn't love cash prizes

  • Fully Paid Trip to San Francisco

    Plane, hotel, venue - all covered. Come and explore the city for free

Frequently Asked Questions

  • No, this is an individual competition!

  • Top 5 submissions will be flown out on an all expenses paid trip to Berkeley to present their submissions.

  • Valiant would like to identify talented students across various universities for internship and full-time recruiting considerations. Your resume will not be considered as part of judging in the competition.

  • Part of the analyst job is also to properly communicate the research. We want to give you freedom to structure the memo as you see fit! Just see the limits on words and graphs.

    That said, common parts of memo typically include (a) business/industry overview (b) elevator pitch (c) valuation (d) detailed thesis.

  • All of the Valiant team! And possibly some surprise guests from other funds, but no guarantees.

  • 1,500 words and 10 graphs limit.

  • Reach out to bigvaliantstockpitch@gmail.com!