FiREapps CEO Proves Winning Formula in CNBC Stock Draft
FOR IMMEDIATE RELEASE
(SCOTTSDALE, Ariz.) – FiREapps CEO, Wolfgang Koester, and his former-NFL kicker teammate, Nick Lowery, have been named the CNBC 2018 Stock Draft champions.
After drafting their stock picks in April on the network’s Power Lunch show, the pair held the lead for the majority of the competition – finishing in first place and more than 30 percentage points ahead of the other seven teams.
Their stock picks including Amazon, (AMZN), Goldman Sachs (GS) and AMD (AMD) carried them through the competition with AMD’s stock price doubling from the day of the draft.
The team chose their stock picks with their winning formula, looking at public earnings calls transcripts, 10-Qs and 10-Ks to determine which companies best understood and managed their currencies and the associated risk.
“Our theory, which we have proven with this win, is that if the overall risk and capital management of a company is above average, then the company itself is less likely to report large negative impacts to earnings and more likely to perform better in the stock market,” said FiREapps CEO, Wolfgang Koester.
This theory carried them to the finish line, while five out of the other seven teams – including Shark Tank star Kevin O’Leary who won last year’s stock draft – finished with negative portfolio returns.
“Picking winning stocks can easily be done without relying on luck,” Koester said. “Investors should be looking at the FX gain/loss line, as well as quarterly and annual reports of the companies they are investing in. And what multinational companies should take away from this is that analysts do pay attention to earnings and the results could impact how an organization performs in the stock market.”
For media inquiries or more information on how to get in touch with members of the FiREapps team at any of these events please contact Angie Schuster at +1 (480) 443-7333 Ext. 167 or by email at Media@FiREapps.com.
FiREapps is the leading provider of Corporate Currency Analytics and FX exposure management technologies. Established in 2005, FiREapps developed the first solution to automate foreign
exchange exposure management for multinational companies. Through a combination of software solutions and expert analysis, FiREapps helps companies ensure they’re accurately measuring and managing their FX exposures. Numerous Fortune 500 companies rely on FiREapps technology to help them reduce FX risk and increase efficiency every day.
FiREapps is headquartered in Scottsdale, Arizona, with offices in Portland, London and Frankfurt. For more information, visit www.fireapps.com/ or call +1 866-928-FIRE (3473).
# # #