A team of St. Ignatius students has an early lead after the first month of the nine-team Saxon Investment Club competition.
The year 10, 11 and 12 student teams from Cayman Prep and High School, John Gray High School and St. Ignatius High School are vying for a top prize of $3000 for the best performance.
In mid October, students from each school formed teams to choose, analyze and hypothetically trade stocks in accordance with real-time stock market information, and the first month of competition kicked off on 1 November. They were encouraged to follow the stock markets using industry websites and blogs to aid them in choosing their portfolios.
‘Paramount to establishing this club was to offer a platform for our local youth to be exposed to the realities of the investment world from a young age – providing them with the insight and knowledge as they get ready to enter the working world, and learn about fiscal responsibility,’ said Saxon CEO Brian Williams.
With no significant losses, all groups unanimously agreed that their first month of investing has been a learning experience.
Each group began the fiscal year with $100,000 in their hypothetical portfolio and chose companies based collectively on their interests or research, which led to investments in Abercrombie & Fitch, Ford Motor Company and Coca-Cola among others.
For the month of November, three groups made a profit – St. Ignatius Five Star, leading the way with a 1.74 % return on investment, followed by St. Ignatius Shantastic Krew with a 0.49 return and Cayman Prep Group 3 with a 0.03 % return.
‘I am proud of our students for completing their first month – I am sure it has been a learning curve for all of them,’ said Mr. Williams.
‘While still early in the competition, no particular group has pulled out into the lead definitively,’ he said.