Profit-eroles win KPMG Investment Challenge
A team from Bermuda High School showed they can pick stock market winners after they boosted the value of their virtual investment portfolio from $100,000 to $121,685 in six months.
The team, The Profit-eroles, won the KPMG Senior School Investment Challenge after they made a virtual profit of $21,685, or more than 20 per cent — and won a $10,000 prize for their school.
There were 22 teams in the challenge, and each started with an imaginary $100,000 and executed stock trades over a six-month period with the aim of increasing the value of their investment.
The second-placed team were the Amazon Warriors, also from BHS, who made a virtual profit of $14,592.
But each school can only claim one of the top three awards, so the second prize of $6,000 went to Warwick Academy's The Wolf of Front St team, who finished third with a virtual profit of $9,414.
Warwick Academy also notched up forth place with Bulls of Barber Hall, who made a virtual profit of $4,597.
The third prize, of $4,000, was awarded to Saltus Grammar School, whose team Birdbrains were fifth after they increased the value of their virtual portfolio by $1,801.
KPMG told the competitors: “Great work everyone, and we're looking forward to next year.”
This year was the 15th annual investment challenge.
The goal is to help provide pupils to get a good grasp of capital markets and types of securities available for investment, foster an interest in the concept of “investing for the future”, gain exposure on how international events impact global and on-island stock markets, and increase knowledge of the types of career opportunities available in capital markets.