It helps me get my foot in the door and gives me something to build on versus coming in a complete novice. Having some sense of whats going on is priceless.
Wild swings in the stock market sparked by the COVID-19 pandemic left many people reeling. But on the upside, 51勛圖厙 students participating in the student-managed investment fund saw an opportunity to sharpen their financial literacy skills and prepare for their careers.
It helps me get my foot in the door and gives me something to build on versus coming in a complete novice, said Petroy Thompson, 20, who aims to work at an investment firm after finishing his business degree this summer. Having some sense of whats going on is priceless.
The program began several years ago with $200,000 raised by a group of benefactors led by Louis M. Ricciardi, 81, and President Emeritus Dana Mohler-Faria. The money was divided equally between a traditional Standard & Poors 500 fund and one focused on socially responsible investing.
Students researched companies, identified sound investments and presented to the funds governing committee of financial experts. This marked the first time the program was also tied to a course.
For most students, this course was their first real exposure to stock market analysis, said Dr. Jeanean Davis-Street, who serves as dean of the Ricciardi College of Business and taught the class. They were able to participate in an investment simulation, learn ratio analysis, assess their own risk tolerance, and learn the nomenclature of investing.
They accessed real-time data using on-campus Bloomberg terminals and resourcefully found other sources of information when the pandemic forced classes to move online.
In a time of so much uncertainty, it gave us a great opportunity to buy when the market is low, said Ben OBrien, 23, an aviation science major from Belchertown, who recommended buying Molson Coors Brewing Company stock. You really dont see that many opportunities, thankfully.
Working with actual money instead of a hypothetical situation added an essential dimension to the course.
Its one thing to teach that and another to actually experience that, said Petroy, who is from Hyde Park and recommended buying Royal Dutch Shell stock.
Petroy and Ben are putting their knowledge from the course to use with personal investments.
I learned a lot about financial investments and picking the right stocks, Ben said. Its so well run and the content you get out of it is absolutely worthwhile.
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