Sơn Bạch

Finance and Banking graduate with practical experience in equity research, financial modeling, valuation, and commodity market analysis. Committed to pursuing CFA Level III in the near term and developing a long-term career in financial analysis and investment management.

Team Leader - Equity Research at Investment Challenge 2026 (2026)

Led a three-member team in producing an equity research report with a BUY recommendation, supported by industry analysis, financial forecasting, and multi-method valuation.

• Built a formula-linked three-statement financial model with six supporting schedules to forecast HPG's revenue, profitability, cash flow, and financial position from 2026E to 2030E.
• Estimated WACC using CAPM with a country risk premium and valued HPG through an FCFF-based DCF, cross-validated against P/E and P/B multiples of six Asian steel peers.
• Conducted two-way sensitivity analyses across HRC prices, WACC, and anti-dumping tariff scenarios to evaluate key valuation risks and potential upside drivers.

Team Leader - Sector Research at Investment Challenge 2026 (2026)

• Analyzed historical prices, raw-material costs, and forward curves, identifying an HRC spread approximately 44% below its six-year average.
• Assessed the effects of China's structural oversupply and Vietnam's anti-dumping measures on regional pricing, import composition, and HPG's domestic market position.
• Proposed a commodity-hedging framework using iron ore, coking coal, and HRC forward contracts to manage input-cost volatility and margin exposure.

Bachelor of Banking and Finance in Banking and Finance – Ton Duc Thang University (2026-06)

CFA Level II Candidate