Warwick Academy students earn $10,000 for school through investment success
Students from Warwick Academy just made $10,000 for their school by showing they can invest their money wisely.Team ‘Horan’s Hunters’ took first place in the seventh annual KPMG Investment Challenge.The annual competition calls on teams of students from senior schools across the Island to take a virtual $50,000 and invest it in the stock market over a six-month period. They are allowed to invest in between ten and 20 securities of their choice, but one of those must be a company listed on the Bermuda Stock Exchange. Each team was allowed to make up to ten trades per month and then each month.At the end of the programme, real cash prizes are given out to the first, second and third place teams. Whoever makes the most money, wins $10,000 for their school. Second and third place win $6,000 and $4,000 respectively.A total of 14 teams with clever names like ‘Mucho Dinero’, ‘Goldfingers’ and ‘Common Cents’ represented each of the Island’s eight senior schools in this year’s Challenge.It was a really close battle this year with the lead changing hands on several occasions over the last few months including in the very last month. The difference between the top six teams in the end was less than $3,000. And only a couple of hundred dollars separated the top two teams.There was also a common theme — any team holding Apple shares did quite well. Over the six months, the price rose from $393 to $603 per share on the back of the new iPad and iPhone 4s launches.The winning team, ‘Horan’s Hunters’ increased their portfolio by an impressive 13.4 percent to $56,695.The team consisted of Rachel Bacon, Erica Balcombe, David Cashin, Ashley Davies, Luther DeLange, Zoe Fields, Keiran Hamilton, Jaishelbi Johnston, Sydney Neal, Samantha Pereira, Kealan Robinson, Matthew Wedich and Sierra Wilson.The‘Goldfingers’ from Saltus Academy took the second place prize of $6,000 and ‘Common Cents’ from Bermuda High School (BHS) won $4,000 for coming in third.Their achievement was praised by KPMG Bermuda partner, Steve Woodward. “We really hope you’ve learned a lot about how capital markets work,” he said. “We hope you’ve had fun. We hope you’ve enjoyed the challenge.”Organisers of the KPMG Investment Challenge said one of the key takeaways for the students is that the key to success is to invest. They also said the main objectives of the programme are to get students interested in the concept of investing for the future and raise awareness of career opportunities within the various segments of the capital markets (accountants, bankers, lawyers, regulators, analysts, investment advisers, fund administrators, pension planners etc)“We hope that it’s encouraged you at least to start thinking about a career in investment, or even better, becoming an accountant with KPMG. There are lots of opportunities out there related to the investment sector — accounting, banking, investment management — but we’re looking really for the next Warren Buffett to come through,” Mr Woodward said, adding that next year perhaps there should be a prize for the most inventive team name.A team of mentors from KPMG volunteered their time and to support and guide the students throughout the course of the programme and a number of prominent clients also made themselves available to speak to the students on a variety of topics related to capital markets.Congratulating all the students at the awards ceremony at the Bermuda Society of the Arts yesterday was Education Minister, Dame Jennifer Smith. She said the investment wasn’t just monetary.“I think it’s important to recognise not only what KPMG have done and are doing with this programme, but also the work of those people who served as mentors because it really is an investment in you, our young people.”“Their purpose in creating the challenge was to stimulate interest in the concept of investing for the future and that has a much wider impact than just becoming the next Warren Buffett, or an accountant,” Dame Jennifer said. “It means investing for the future as well as saving — something that a lot of people today are wishing they had done as we look at the economy.”