Bermuda Institute’s Tradewins lead challenge
A Bermuda Institute team of wheelers and dealers are top of the table in an investment challenge for schools.
The Tradewins team has pulled ahead of first-month leaders Checkerboards from CedarBridge Academy and is one of only three teams in the KPMG Investment Challenge to have increased the value of their intial $100,000 in their virtual portfolio.
Ashé Trimm, the Tradewins team leader, said the secret of the Southampton school team’s success was keeping a close eye on penny stocks.
She added: “My group comes to me with many different stocks and I pick the ones that seem correct.”
And she said strong teamwork was also important in helping Tradewins amass a portfolio value of $104,690.50 from the $100,000 starting point.
Ms Trimm, 16, from Southampton, who wants to study accountancy, added: “My assistant Azzi Mayes helps me. As a team we all work together — we’re all leaders here.”
Team member Trey Simons, also 16, said the team had tended towards buying into manufacturing, merchandising and insurance.
He added: “We pick stocks that will have a great impact because we’ve been looking at different businesses and the need for a particular product.”
Mr Simons said: “We’re actually trying to watch our stocks very closely to see if we can make changes that can take us to a better position — we want to win.”
The school has entered three teams in the competition, with the Tradewins team all studying accountancy.
Tradwins is one of 20 teams from across the Island taking part in the competition, which finishes at the end of April.
Tanya Warner, the Bermuda Institute business manager, said one problem was finding enough time to follow the markets.
But she added: “I’m really very proud of the team. The past two years, we haven’t done very well in the competition, but in previous years we have been placed first once, second twice and a got a third place.
“The investment market is very unpredictable. It was very discouraging the last couple of years, but we’re aiming to win again.”
Ms Warner added: “It’s really a gamble — they look for the stocks that look like they are doing well and pray that they continue to do well.
“It doesn’t matter what kind of stock or index it is — they just go for it.”
The Tradewins team is ahead of The Wolves of Warwick, from Warwick Academy, who are on $101,697.50.
Checkerboards are in third place, with a portfolio worth $100,728.56.