Students of city-based Carmel Junior College won accolades by winning the fourth prize at the finale of “Who let the Stocks Out” at the Wharton Business School, Pennsylvania, United States of America.
The asset management competition was organised by Knowledge@ Wharton High School and Aberdeen Asset Management that started in December and ended on April 30 with top 12 teams across the world making business presentations to win the international competition.
The team from Carmel Junior College Prashaant Ranganathan, Smriti Prakash, Virat Singh from class X and Rohan Gupta and Sameer Nayak from class XII participated in the competition and visited the US for the finale.
The participating teams in the competition had to generate a virtual cash of $100,000 by investing it in real companies to make a profit out of it. There was a choice among 200 companies out of which participants had to trade the sum for two and a half months. The team from Carmel Junior College was the team that generated highest profit in the two and a half month trading. A total of 325 teams across the globe participated out of which only 12 (three from India) were invited for the final round.
Knowledge@Wharton High School is an online journal for students and educators interested in finding out more about the world of business. One can explore feature stories about teen-run companies and business trends, read articles on how the economy works and how careers take shape, listen to and view audio and video podcasts spotlighting business’s most creative and colorful characters in fields like sports, entertainment, retail and hi-tech. As part of Knowledge@Wharton, a network of global online business publications published by The Wharton School of the University of Pennsylvania, KWHS is where you can discover business now.
"We are happy with the performance but we feel sad that we missed out for two marks from winning the third position. We have received overwhelming response from US," said Prashaant. The students went on to inform that s part of the preparation they researched background of companies on Google from January and till March. The team led by Prabha Prakash, a teacher of the school, mentors Sumedha Goyal and Jayant Sakuja invested in chemical companies, Toyota, Tata Motors, US Steel Corporation, Twitter and Facebook.
"It was really a great experience for us. During the contest we had to take wise decisions over investment because it was just the money which was virtual but the trading was real time as per the US stock markets. We used to come to school in the evening everyday to do the trading. It was tough during the final examinations but we managed it," said Smriti.