New York, New York (PRWEB) February 26, 2008
Calling all aspiring student investors and future leaders of Wall Street for a chance to win $5,000 and a paid internship in the Second Clear Next Generation ETF Contest run over Facebook and the internet. The contest, created by Clear Indexes, LLC (Clear Indexes), http://www.ClearIndexes.com, a creator and developer of indexes and benchmarks for investment products and institutions, is seeking the most original and marketable ETF index idea (Index) from students. The winner will have the chance to participate in the ultimate development of the published Index.
The first Clear Next Generation ETF Contest, run in October and November 2007 and limited to three select colleges, was so successful that Clear Indexes has upped the prize money and extended the contest to other colleges.
Any student with a valid email address at Johns Hopkins University, Wharton School of the University of Pennsylvania, Harvard University, Cornell University, York University, Middlebury College and Pennsylvania State University is eligible to enter. The contest is being run with the participation of professors, student activity offices and career centers at the respective schools.
"The first contest proved that college students are an untapped and extremely capable resource for ideas in the investment world," said Andrew Corn, CEO of Clear Indexes. "Frankly, we were amazed at the quality and diversity of ideas. And, it's a great opportunity for students to put into practice what they've learned in the classroom."
Participants may submit up to five ETF index ideas. Each idea theme must be described in detail, including its appeal to investors and the investment thesis behind it. Judges will examine each idea for its uniqueness, differentiation, scalability and ease of explanation to investors. In addition to the grand prize, three runner-ups will receive $1,000, and 10 honorable mentions will be named.
The winner of the first Clear Next Generation ETF Contest, Jimmy Baker, 18, a New York University English major, is currently helping to develop his idea into a published index at his paid Clear Indexes internship. "The experience has been awesome," said Baker. "The contest provided me with an outlet to apply my knowledge of world events to my idea. It's exciting to have the chance to develop my concept into an index."
An honorable mention winner has also been granted an internship and Clear is interviewing other contest winners for summer internships as well. The contest runs from February 25 through April 4. Submissions will be reviewed by Clear Indexes and its advisory board. Winners will be announced on Clear Indexes' Facebook group and via a press release.
About Clear Indexes LLC
Clear Indexes LLC creates and publishes custom indexes using a combination of qualitative research and quantitative methods. Clear Indexes designs custom indexes to quantitatively measure specific market segments. The indexes are used for custom institutional benchmarks and investment product design. Clear Indexes is a wholly-owned subsidiary of Clear Asset Management Inc. For more information, please see http://www.clearindexes.com and http://www.clearam.com.