MAZENOD College in Lesmurdie has continued its winning streak on the stock market with two students finishing top two in the state and one winning the national title in the ASX Schools Sharemarket Game
James White (13) won the national ASX competition for school students nationally.
He came first in the state and the nation when he showed even the big league dealers how to take $50,000 and play the stock market with cash flying into his pocket.
His friend Hayden Della Franca (13) came second in WA.
James built up a portfolio value of $64,570 in 10 weeks from the initial investment in the bi-annual event.
Students are given $50,000 to invest over 10 weeks in Australian shares using an internet trading account.
James won $1000 prize money for his efforts.
Mazenod finished with 19 syndicates in the WA Top 100.
Commerce teacher David Hiatt said the school had created a culture of financial literacy.
“The competition is just part of the practical money management skills we teach,” he said.
“The game is great, it’s fun for the boys because they love competition and are engaged by some sophisticated real-life technology.
“Most importantly, it helps them learn how to take responsible risks.”
Mr Hiatt said the students were trading in a very positive market with the All Ordinaries (XAO) over 4 per cent.
James achieved a return of 29.1 per cent in the game; his strategy was to research and set up a watch list.
“I started off with banks like Bendigo Bank and Bank of Queensland,” he said.
“I sold the banks and went into mining. After a few tries with iron ore and other minerals, nothing seemed to work.
“I knew to get anywhere on the leader boards I needed something more volatile, so I settled on gold producers Northern Star, Evolution, Regis and Ocean Gold.
“My hunch was the political unrest in so many parts of the world would drive the gold price up.
“Due to Australia being an exporting country, the fall in exchange rate actually helped the gold price.”
“There were a few days to go, I seemed to be at my peak, so I sold everything and stayed at the portfolio value of $64,570. It was a rocky ride to the end but luckily I finished at the top.”