So some kids over at Greenwich High took first place in Connecticut for the fall 2008 in the Stock Market Game, a national simulation that gives a team $100,000 play dollars to make-believe buy and sell equities.
With their $100,000, these enterprising teens ended up with $267,553.64 in the course of three months last fall. The DJIA was hanging in at around 11,000 back in September. By the end of December it had crashed to the 8,600 range.
Now in the land of hedge funds and investment bank presidents, financial advice is pretty easy to come by. This is a town were some folks make a billion dollars a year after all. But these kids beat the returns of some of the craftiest investors in the world — folks who happen to live right down the street from them.
I don’t know if they shorted the whole market, or if their strategy was long-short, event-driven or whatever, but if they’d like to start their own hedge fund, I think Alexander Scheetz, Alexandra Scott, Sean Broderick and Thomas Murphy would have no problem finding some qualified investors.
Congratulations, kids, and teacher Jan Reid. And do you have any hot tips?