Economics Club — Stock Market Game
October 28, 2021
Do you like stocks? How about making money? If you answered yes to either of these questions, The Economics and Investments Club is the perfect fit for you.
There are plenty of benefits to joining the Economics Club. It’s good to learn a thing or two about the economy and understand the best ways to spend/save your own money. These are all real world skills that will apply to your everyday life after St. X.
Right now the Club is involved in The Stock Market Game. Students from all grade levels in the state of Kentucky created teams to compete in the competition. The rules may sound confusing at first, but it is actually quite simple.
Teams are composed of 3-5 students and each team starts with 100,000 dollars of fake money. Whichever team makes the most money wins. One of the teams from the Economics Club is the frontrunner after one month of playing the game. Head trader Michael Wheeler and his team have a 20% profit increase, putting them in first place in the state.
“When looking to invest in a certain company, have the mindset that you are buying the entire company,” student leader Michael Wheeler said.
Wheeler and his team formulated a plan, and their success did not come purely from luck. The market for Bitcoin and other crypto currencies are strong right now; Wheeler took a chance investing the majority of his team’s money in bitcoin mining. Every investment has a risk factor, but Wheeler seems to have the keys to success.
“Time in the market beats timing the market,” he said.
You can learn everything here in more detail at club meetings. They have monthly meetings, so it isn’t a huge time commitment — their next one is Nov. 10. Unfortunately, it is too late to join the stock market game, but next month there is a mock Shark Tank, so if that interests you then now is the time to join.