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It’s stimulating to meet a full house of young investors every year. The recent workshop for the 2021 Annual Value Investing Challenge that we co-host with the HKUST Business School was encouraging. Chartwell’s William Tsang introduced the basic concept of value investing and advised on how to conduct industry and company research to the students, and our senior analyst Aditya Salim also shared a case study to give guidance on best practice of research. We look forward to reviewing the entries from the contestants.