BYU–Hawaii students have achieved a remarkable victory in the 2025 Local Finals of the CFA Institute Research Challenge, hosted by the CFA Society San Diego. The competition, which took place on February 27 in San Diego, California, saw the BYU–Hawaii team outperform prestigious schools, including the University of San Diego, the University of Hawai’i at Manoa, the University of CA - San Diego - RADY School of Management, San Diego State University, and California State University San Marcos.
The winning team consisted of Fololani Faaoa, a senior from Tonga; Jared Stout, a junior from California; Charlie Gomez, a senior from the Philippines; and their team leader, Timothy Samad, a junior from Indonesia. All four students are majoring in business management with an emphasis in finance.
Dedication in Preparation
The CFA (initially standing for Chartered Financial Analyst) Institute Research Challenge is a global competition that challenges university students to analyze a publicly traded company and deliver a professional research report, along with a presentation, to industry experts. The competition progresses through multiple stages, from local rounds to sub-regional, regional, and global finals, with the team moving on to the sub-regional round.
The BYU–Hawaii team dedicated months of preparation to the challenge, often sacrificing weekends and free time to refine their analysis. “We spent most weekends working from 7 to 9 pm on Fridays and Saturdays,” Faaoa said. “While other students were out having fun, we were focusing on research and refining our report.”
The CFA Society Hawaii was integral in their preparations, as they helped with providing guidance and background work to the BYU–Hawaii students as well as the students at the University of Hawai’i at Manoa, enabling both universities the opportunity to participate and fly to San Diego.
Each team member played a crucial role in preparing for the competition. Samad, the team leader, focused on financial valuation models. Gomez handled investment risks and thesis development. Stout worked on environmental, social, and governance (ESG) factors, while Faaoa covered the business overview and competitive analysis.
The Challenge and the Victory
The competition required the team to analyze Sempra, a major energy infrastructure company, and determine whether its stock was a buy, hold, or sell. Their analysis included deep research into the company’s financials, market position, and risk factors.
BYU–Hawaii’s team faced stiff competition, particularly from graduate students (Master of Business and Master of Finance) at other well-established universities. However, their dedication, teamwork, and strong presentation skills set them apart.
When the results were announced, the team was thrilled. “This was our best and only shot in decades, and it was a great feeling to win,” Gomez said. “We were the literal underdogs in that competition, so winning had some big implications.”
Their victory was especially significant because BYU–Hawaii had never competed at this level before. The team recognized that their success would set a precedent for future participants. “Since students can only compete once during their college years, we wanted to set an example of excellence for the next team,” Samad explained. “We won with the help of Elder Patterson this year and our newest finance faculty member, Brother Junjiro Makise. Next year, Brother Makise will guide a new team with the same expectations of excellence, building on what we accomplished. The finance program at BYU–Hawaii will increase its branding and gain more connections with the CFA Society in Hawaii, which we hope will open doors for career opportunities.”
The Power of Diversity and Presentation Skills
One of the key factors in the team’s success was their diversity. Unlike their competitors, who were predominantly American and often lacked varied perspectives, BYU–Hawaii’s team consisted of individuals from four different countries. This diversity gave them a unique edge in analyzing global business factors and addressing different perspectives in their research.
Another advantage was their ability to communicate effectively. Many of the team members had served as missionaries for The Church of Jesus Christ of Latter-day Saints, where they developed strong public speaking and teaching skills. “One of the main reasons we did as well as we did was because of this backbone of skills and knowledge gained from our mission,” Stout said, recalling his time as a missionary in the Philippines Cabanatuan Mission. “Despite our knowledge level being below that of MBA students, we gained the ability to ‘teach simply, and to teach confidently from our missions.’”
"This experience showed me that, despite limited resources, we can still do our best to represent BYU–Hawaii and strive for excellence," Samad explained. The team also recognized the crucial role of their advisor, Elder Patterson, a service missionary assigned to BYU–Hawaii, and how he played a role in their victory. Samad highlighted Elder Patterson’s extensive experience and mentorship, saying, "We wouldn’t be here without him. He’s been guiding teams for years and always gets top results."
“Prayer, Perseverance, and Persistence”
Beyond the competition, the experience helped the students grow personally and spiritually. The discipline, teamwork, and perseverance they developed mirrored the values they strive to live by as disciples of Jesus Christ.
“We knelt down, prayed to Heavenly Father, and made sure the Spirit was always there to tell us what to do,” Samad shared. “We’ve gotten a bigger testimony of what prayer, perseverance, and persistence can do to our lives.”
“As a Tongan coming from a very small island, we have very little knowledge of things like analyzing stock or valuations of a company,” Faaoa said. “Now that I’ve learned how to do that, it is something that I am able to bring home after graduation: teaching younger generations about economics, finance, and everything related to it.”
“Believing in ourselves is first and foremost. We put in the faith and effort to become competent in competing, and we put in the work,” Gomez shared. “A huge part of our success is our team’s faithfulness.”
The team is currently meeting weekly in preparation for the sub-regional round, which began on March 12, representing BYU–Hawaii against other schools in Western America, involving a video submission presentation in which the winner will be announced on March 27. Regardless of the outcome, their journey has already proven that dedication, faith, and teamwork can overcome even the most formidable challenges.