Saltus team leads KPMG Investment Challenge
Saltus Grammar School team Kirkwood Capital is leading the KPMG Investment Challenge after its virtual stock portfolio rose from $100,000 to $102,677 in November.
That puts the team $350 ahead of the next team, $mart Money from Berkeley Institute, while in third place is Warwick Academy's StockClimbers.
There are 19 teams in the competition this year. The school teams are each given an imaginary $100,000 to invest in the stock market over a six-month period. At the end of the contest the top teams will win cash prizes for their school.
Only a month or so in to this year's contest, the Kirkwood Capital team was understandably cautious about giving too much away about their stock picks and strategy.
“It's a value portfolio. We look at the financial statements of the companies,” Ryne Cash said. Pharmaceutical and healthcare choices have played a part in the team's initial success.
Their decisions are made based on the consensus of the group and are usually made at a weekly meeting, although the team members also discuss strategies and opportunities at other times.
Most of the team have taken part in the KPMG Investment Challenge before, and ended up just outside the top five positions. This has given them a degree of expertise about what to expect and the need to maintain composure when the stock market drops.
“It has taught us not to be reactive to the market,” said Ryne.
The team said they have high hopes for their portfolio this year.
When asked what they felt they had gained from taking part in the investment challenge in the past and this year, the team said it brought an aspect of individuality but had also taught them the importance of listening to the opinions and views of others, and the need to keep an eye on the news and global events.
The Kirkwood Capital team is not planning any major change of direction to the stock portfolio at this time; the students said they trust their current strategy.
• For more information on the KPMG Investment Challenge, visit https://goo.gl/u4SotK