1st place finish for UPEI stock trading team
Four students win competition after entering for the first time
It was a first place finish for a team of students from the University of Prince Edward Island's School of Business when they put their stock-trading skills to the test.
The team won the competition at the seventh annual Interuniversity Stock Market Simulation at Université de Moncton in Moncton, N.B.
Eight teams from universities across Quebec and Atlantic Canada took part and for the UPEI team, it was the first time they entered.
The UPEI team of Geoffrey Gaudet, Nick Czinder, Jordan Rose, and Silei Peng were given two fictional companies with balance sheets and income statements and had $10 million to trade with and a limit on the number of shares they could buy and sell.
'Old pit trading style'
"There was two analysts and two traders and it was kind of reenacting the old pit trading style that you'd see in movies and all that sort of stuff where everybody's in the pit and yelling and trading and all that sort of stuff," said Rose, a second year business student.
Rose described the competition as hectic with the amount of negotiating and trading they had to do.
"You had to try and keep a level head."
Rose added the team was interested in the stock market and trading and said it was fantastic to win, "especially winning a little bit of money as well."
Professor Yousef Hashmi said the students had the opportunity to see how financial markets work in the real world as opposed to the classroom.
"It was an invaluable experience for them, and they rose to the occasion."
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With files from Krystalle Ramlakhan