Student investors are top of the stocks
A team from The Perse has won the online stage of the IFS Student Investor Challenge, the UK’s premier investment competition, against more than 8,000 teams.
The Sixth Form team of Joe Todd, Fin Brown, Charlotte Grace and Hannah Kirk – named “Bankers who lost interest” – more than doubled the value of their initial virtual investment of £100,000, while the FTSE 100 Index declined by 3% over the challenge period. The final balance of their investment was £213,885.
The annual competition is organised by IFS University College for 14 to 19 year olds. It aims to give students first-hand experience of making investment decisions, and to improve financial literacy and understanding of financial risk.
The team met up each morning before the stock market opened to discuss their upcoming day of trading. Each member had his or her own role, from poring over past data and making independent valuations of stock prices, to modelling and making predictions. They each win £150 (real, not virtual) from the IFS for their achievement. Fin Brown attributed their success to the diversity of their stock purchases and strong teamwork: “There are no short cuts. It’s just hard work and we put in a lot of time” and Hannah Kirk explained: “We weren’t afraid to get things wrong. You can have days with big losses and we had one terrible week close to the end which set us back. You learn a lot about how to make big decisions”.
Jon Young, Head of Economics congratulated the students: “Achieving the best-performing share portfolio of any UK team is a great achievement and is a testament to the hard work and investment talents of everyone in the team”.
Two other Perse teams also finished in the top ten: ‘Broke-rs” placed fourth with a final balance of £177,183 and ‘The Four of Us are Buying” were seventh with £142,069. The full list of results for the online challenge are available online http://www.studentinvestor.org/portfolio-league.php
The IFS Student Investor Challenge includes a second stage of regional business-focused quizzes which will take place in March, and a national final in April.