Indian students Prabnoor Singh Kohli, Tijil Gupta and Amol Singh Cheema of Amity International School in Noida, Uttar Pradesh, won the Husky Investment Tournament hosted by the College of Business at Michigan Technological University.
"This spring drew high school business students from across the country and world to compete for a cash prize and scholarships toward a Michigan Tech education," said the US university in a release.
The competition utilises a virtual stock-trading tool and college student- and faculty-led video modules to help high school educators lead engaging conversations and lessons of their own.
$1,000 prize money
Teams of three to four students receive $1,000,000 in virtual US dollars to build a portfolio. The group with the highest-valued portfolio earns $1,000 in prize money, and all students who actively participate are awarded a scholarship to attend Michigan Tech.
“The tournament really helped us to get real-world trading experience while competing with other people,” the team, who worked together remotely due to the Covid-19 pandemic, said.
Wipro, Infy, Apple in portfolio
According to Tijil Gupta, one of the winning team members, their portfolio return was 10.48 per cent, beating the follower, who produced 9.70 per cent. "We had traded in 118 stocks, and among them Tesla, Takung Art, Shockwave, Dolphin and Wipro helped us with strong gains. Besides, our portfolio included Apple, Disney and Hartford Financial Services".
The team was mentored by Virendra Verma, who taught the eleventh-graders the basics of the stock market. According to Verma, it's high time Indian top educational institutes should also come forward with such real-life games to impart financial education to a broader section of society. In addition, SEBI, stock exchanges and mutual funds can also join hands with premier institutions to identify bright students at younger age and get them admitted to that institutes with scholarship.
The Husky Investment Tournament is embedded in high school economics, business, and personal finance classes. Since its launch in September 2019, as many as 917 students from across California, Florida, Georgia, Illinois, Maryland, Michigan, Minnesota Virginia, and Wisconsin have participated in the Husky Investment Tournament, the University said.
No cost to participate
For those who wish to participate in the tournament, there is no cost to the students, teachers, or school for participation.
The winning team is invited to Michigan Tech’s campus in Houghton, Michigan, to tour campus, meet professors, and discuss their investment philosophies and strategies with student members of its Applied Portfolio Management Program.
The scholarship is available for all students in grades 9 through 12 who participate and attend Michigan Tech to study in an undergraduate major of their choice.