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§ RESOURCES · S15 PARTICIPANT KIT

Build Your Edge Before the Bell

“Read first. Argue second. Trade third. That sequence — not its reverse — is what makes a SIC entry stand up to the rubric.”

The SIC participant kit is deliberately compact. A short reading list, a small set of vetted simulators, the valuation frameworks our judges actually use, and a growing archive of past cases. Read what you need, skip what you don’t — and arrive at the Regional Stage knowing what a defensible thesis looks like.

§ 01 · Reading List

What to Read Before the Season Starts


A short, curated list. We don’t recommend reading everything — we recommend reading one or two of these well, then writing your own one-page summary. The students who arrive at Regional Stage having done that consistently produce the strongest rubric scores.

The Intelligent Investor
Foundational

The Intelligent Investor

Benjamin Graham · 1949 (revised editions)

The canonical text on value investing and the margin of safety. Read chapters 8 (Mr. Market) and 20 (Margin of Safety) first — together they cover roughly half of what the SIC rubric rewards under “risk articulation.”

A Random Walk Down Wall Street
Foundational

A Random Walk Down Wall Street

Burton Malkiel · 12th edition

The case against believing your own pattern recognition. Required counterweight to value-investing texts. Read at least chapters 1–4 and the chapter on behavioral finance before filing your first thesis log.

Common Stocks and Uncommon Profits
Intermediate

Common Stocks and Uncommon Profits

Philip Fisher · 1958

The “scuttlebutt” approach to research — going beyond financial statements to understand a company’s qualitative reality. Particularly useful for Senior Division strategy reports where qualitative reasoning is part of the rubric.

Thinking, Fast and Slow
Intermediate

Thinking, Fast and Slow

Daniel Kahneman · 2011

The cognitive-bias playbook. Read part one and part three before the Omaha Summit — knowing the names of your own biases is the first step toward Revision Discipline (rubric axis 04).

The Essays of Warren Buffett
Intermediate

The Essays of Warren Buffett

Compiled by Lawrence Cunningham

Buffett’s shareholder letters organized by topic. The clearest available model of how to write a thesis that is plain-spoken without being simplistic. Particularly relevant for the Omaha Dialogue Summit context.

Investing for the Long Run
ESG & Risk

Principles of Sustainable Investing

UN PRI handbook (free PDF)

Free, primary-source ESG framework. Read sections on materiality assessment and engagement before writing the ESG paragraph of any Senior Division strategy report.

§ 02 · Trading Simulators

Where to Practice Without Real Money


The SIC platform handles the official Junior Division simulator — orientation is part of WhatsApp intake. The platforms below are vetted for self-directed practice before or alongside the season. None requires payment.

Official SIC Platform

SIC Trading Simulator

Provided · No cost to participants

The official Junior Division simulator. Calibrated to live market data. Account setup and orientation handled during WhatsApp intake. This is the only platform whose data feeds the official judging process.

Self-Practice

Investopedia Stock Simulator

Free · Email signup required

Long-running free simulator, good for pre-season practice. Useful for learning order types, position sizing mechanics, and the discipline of weekly reconciliation. Not used for any official SIC scoring.

Self-Practice

MarketWatch Virtual Stock Exchange

Free · Email signup required

Class-friendly virtual exchange. Useful if you want to run a practice league with classmates before applying. Not used for any official SIC scoring.

§ 03 · Research Frameworks

The Methods Our Judges Actually Use


These are the four valuation and research frameworks SIC mentors and judges expect Senior Division strategy reports to engage with — at least one, ideally two. The point is not to perform a textbook DCF; it is to show you understand which framework fits the thesis you are defending.

§ I

Discounted Cash Flow (DCF)

The foundational intrinsic-value framework. Project free cash flows, discount them back at the cost of capital, compare the implied value to the market price. The mechanics are simple; the inputs (growth rates, discount rate, terminal value) are where the argument lives.

Use when: the thesis is fundamentally about whether the market is mispricing a company’s long-term cash generation. Less useful for fast-moving cyclical bets or pre-revenue stories.
§ II

Comparable Company Analysis

Triangulate value by comparing the target against a peer set — EV/EBITDA, P/E, P/S, EV/Sales multiples. The skill is in choosing the right peer set and adjusting for structural differences. Often paired with DCF as a cross-check.

Use when: a clean peer set exists and the thesis turns on relative mispricing within an industry. Weakest when the company is genuinely without peers.
§ III

Scenario & Sensitivity Analysis

Build a base case, a bull case, and a bear case — and show explicitly which assumptions drive each. Sensitivity tables on key inputs (growth, margin, discount rate) are heavily rewarded under rubric axis 03 (Risk Articulation).

Use when: any thesis where the outcome depends on a small number of identifiable variables. Required, in some form, for every Senior submission.
§ IV

ESG Materiality Analysis

Identify the environmental, social, and governance factors that materially affect the company’s long-term cash flows or cost of capital. Then incorporate them as inputs — not appendices. The SASB framework is the most common starting point.

Use when: always, for Senior submissions. ESG is a scored input on the rubric (since S13). The standard is: materiality, not box-ticking.
§ 04 · Past Cases

What Strong Past Entries Actually Look Like


Featured Cohort entries from prior seasons are archived in the SIC Hall of Fame with each participant’s permission. They are the most useful reference document you can read before submitting your own — not as templates to copy, but as evidence of what passes the rubric.

§ Hall of Fame Archive

Browse past Featured Cohort entries

The full archive of Featured Cohort submissions (with permitted publication) lives in the Hall of Fame. Each entry includes the original submission, the rubric scorecard, and a brief note from the judging desk on what distinguished it.

View the Hall of Fame →
§ 05 · Live & Recorded Sessions

Webinars, Office Hours, Omaha


SIC runs three structured live-session formats across each season. All are bilingual where possible; recordings are available to active participants through the program desk.

Cadence · Weekly
Mentor Office Hours. Practicing analysts hold open-format question sessions throughout the Regional Stage. Multiple time zones; 60-minute slots; bilingual support.
Cadence · Stage Milestones
Rubric Webinars. Each rubric axis gets a dedicated webinar early in the Regional Stage. Judges walk through what differentiates a 5-out-of-5 score from a 3-out-of-5. Recordings available to active participants.
Cadence · Once Per Season
Omaha Dialogue Summit. Early May, timed to the Berkshire Hathaway annual meeting. Three days of small-group panels with practicing investors, academic mentors, and alumni. Open to all active S15 participants.
§ 06 · Frequently Asked Questions

About SIC Resources


§ 01

Do I need to read every book on the reading list?

No — and we’d argue against it. The students who score best on the rubric read one or two of the foundational texts deeply (writing their own one-page summary) rather than skimming all six. Quality of engagement, not coverage, is what carries over into Regional Stage thesis logs.

§ 02

Are the simulators the same as the official SIC platform?

No. The Junior Division uses an official SIC simulator that feeds judging data. The simulators listed in §02 are for self-practice before or alongside the season — they’re not connected to any SIC scoring. Don’t worry about practicing on the “right” platform; the official one is provided at intake.

§ 03

Do I need to know all four research frameworks before applying?

No. The frameworks in §03 are what Senior Division submissions are expected to engage with at the Global Stage — they’re a roadmap, not a prerequisite. Junior Division participants don’t need to author DCF models; the rubric expects thesis-level reasoning, with framework references where appropriate.

§ 04

Where can I see past entries before I apply?

The Hall of Fame archive (see §04) holds Featured Cohort submissions from prior seasons that participants gave permission to publish. The current published archive grows each season; SIC does not publish entries from participants who did not give permission.

§ 05

Do I have to attend the Omaha Dialogue Summit?

No, but it is open to all active S15 participants and is the program’s flagship live event. Most participants who can attend, do. Logistics, format, and any travel guidance are discussed with the WhatsApp program desk closer to the May date.

§ 07 · Apply for SIC S15

Applications Close June 1, 2026.

2026.03.20 — 2026.06.01 · Open now

SIC operates a WhatsApp-only intake. Scan the code at right to reach a real program advisor — they walk you through eligibility, division selection, and any consent paperwork your school may need.

There is no online registration form, and no third-party brokers. SIC is operated by SKT, endorsed by CEE, and academically supported by ACME.

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