If you are a Loomis Chaffee student it is possible that you will walk away with an Amazon gift card, but it is definite that you will leave with a greater knowledge of investing.
The Stock Market Investing Game is about to start at Loomis. It does not matter if you are new to investing or a veteran; the game is open to all students.
This year the 10-week game will have two tracks. Individual prizes will go to those who take their fictional $100,000 and turn it into the highest amount. There also will be individual prizes for those who use a longer-term strategy than the 10 weeks allow. That strategy will not focus on where students are relative to the initial $100,000 investment, but rather on the potential of their approach. Students following this path will be asked to write a one-page summary about why they chose to invest the way they did, and judges will choose winners based on that. There also is the possibility of a dorm challenge with the winning dorm receiving a pizza party.
During the competition there will be informational sessions for students on assorted topics. The game is part of a broader effort to promote financial literacy among Loomis students.
“The financial literacy program is about trying to get information to students at a younger age,” said Matt Kammrath, the Keller Family Director of the Norton Family Center for the Common Good and a faculty member of the Mathematics Department. Matt, who will administer the game, held an information session on Monday, January 9.
“The more you are learning now, the bigger the foundation you have when you are younger only helps you when you're starting your first job, and you know what a 401k is, and you know you need to be investing for the long term, and you know about inflation,” Matt said.
“A 22-year-old investor will outsave a 45-year-old investor always. But we must get them the information,” he said. “The school is really supporting this idea that life skills are something that we also do at Loomis and we value.”
The game is expected to start early next week; directions on how to sign up will be posted in the Daily Bulletin.