Jan 232018


This week we started from where we left off. After a very well deserved winter break, it was time to get back to work.

The CFA Institute Research Challenge report deadline is in one months’ time, so we are currently working at maximum speed. We’re excited and nervous at the same time; time has passed very quickly, and so has our Indra valuation.

We will have to double the meetings as before the break for sure – finishing up the last numerical and holistic valuation of the company takes time and effort.


The team did a great job meeting up several times this week to work on different segments of the report, as the deadline is almost here. The next couple of weeks will undoubtedly be the hardest, with many new “unknowns” to be solved.

A Q&A session was arranged with the company this week, and we prepared questions to send beforehand. Many long, didactic hours of work await in the coming week — we have allotted a full day plus more hours after classes to fine-tune our forecasts to the best of our abilities.

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