Attention Wall Street, Bay Street, Portugal and Greece: your future and recovery just might lie in the hands of a handful of student investors in Grand Cayman. That's right - an extracurricular group of young students have found that their investment portfolio is up by more than a hundred percent. Now if only that hadn't been pretend money…
In an innovative educational programme this elite group of students proved that it's never too early to start managing your money. This year's Saxon Investment Competition was launched on October 1st 2012 to local high school and college students ages 14-19 and will wrap up on March 15th.
The Saxon Investment Club offered students the opportunity to gain invaluable insight about investing in a hands-on environment and be exposed to the realities of the financial world from a young age.
Students participating in this contest learned a great many new skills including:
In addition to sponsoring, promoting and administering the competition, Saxon awarded monthly prizes along with a grand prize of $2,500 and a $500 cash prize for the runner-up. The annual competition taught fledgling investors and featured a simulation of stock markets, enabling students to experience the highs and lows of what it might be like to trade in the real world using virtual start-up capital of $100,000. One group in particular , Modern Day Investors ended February with gains of $206838.03
Saxon CEO Brian Williams: "Saxon is literally blown away by the ingenuity of these young people. Their portfolio ended up closing by over a hundred percent."
"These students have gained invaluable knowledge of stock market investing and money management, which we are confident will prove to be useful tools in their future." said, Mr. Williams. "Someone in this group is going to be a future pioneer of our financial industry."
Saxon Group is comprised of Saxon Pension Services, client services agent for Silver Thatch Pensions, and SaxonMG, the most recognizable auto insurance provider in Cayman.
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Attention Wall Street, Bay Street, Portugal and Greece: your future and recovery just might lie in the hands of a handful of student investors in Grand Cayman. That's right - an extracurricular group of young students have found that their investment portfolio is up by more than a hundred percent
One of the Saxon Investment Club groups calling themselves Modern Day Investors would appear to have something to teach the portfolio managers of Toronto, New York and London. More impressive is their leading streak for four months running.
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