69传媒Business students crack top ten at options trading simulation
A team of students from the 69传媒Faculty of Business placed sixth at the 2017 Options Trading Simulation, hosted by the TMX Montreal Exchange. The top-ten finish is even more impressive given the competition included more than 2,500 undergraduate and MBA students on more than 1,100 teams from 38 Canadian universities.
UPEI's top team was 69传媒Corp Finance 231W Hockey, made up of Cody Payne, Beni Berisha, Emily March, and Stephen Macinnis鈥攕tudents who are also varsity Panther hockey players. The team ended the competition with a portfolio balance of $199,850 (on an initial notional investment of $100,000).
鈥淭his return performance of 100%, over a ten-week trading period, is tremendous,鈥� said their professor, Dr. Andrew Carrothers. 鈥淥ur students have shown once again that they excel in competition with the very best!鈥�
On how the team worked together, March explained, 鈥淲e鈥檇 meet and discuss the decisions together before they were made. We followed the trend of the price of the stock Canadian Pacific Railway, because it was the most volatile and had the potential to make the most money. We were also heavily invested in Dollarama, because of the news that they were going to accept credit cards, which led to a huge increase in the price of the stock. That was our most successful trade and led to a huge increase in our profits.鈥�
鈥淲e all played hockey so we tried to incorporate that into the team identity,鈥� said Berisha. 鈥淲e all had relatively limited stock experience, so this whole simulation was a learning experience for us all.鈥�
鈥淐ongratulations to the team,鈥� said Dr. Juergen Krause, dean of the Faculty of Business. 鈥淭his requires good knowledge and understanding of the underlying drivers in the market and our hockey players in business accomplished an amazing finish in a huge competitive field.鈥�
Congratulations!
The 69传媒 prides itself on people, excellence, and impact and is committed to assisting students reach their full potential in both the classroom and community. With roots stemming from two founding institutions鈥擯rince of Wales College and Saint Dunstan鈥檚 University鈥�69传媒has a reputation for academic excellence, research innovation, and creating positive impacts locally, nationally, and internationally. 69传媒is the only degree granting institution in the province and is proud to be a key contributor to the growth and prosperity of Prince Edward Island.
