Economics Students rejoice in winning the Bloomberg Investment Competition!

Earlier this year MSc Financial Economics students Gianmarco Spinelli and Seth Williams entered the 2014 Bloomberg Investment Competition (BIC). They were hoping to apply their academic studies and experience what it is like to behave as a real trader in a competitive environment.

The BIC is a national investment competition where students contribute their investment ideas over the course of six weeks and compete to achieve the overall highest return on their portfolio.Student using Bloomberg terminalsAll analytical tools, research, data and reports are available through Bloomberg terminals. By asking students to conduct industry and company research using the same tools as a professional analyst or trader in the market, the competition offers a real-life learning experience and prepares students for a career in finance. The Department of Economics entered 4 teams in the competition and students made use of the Bloomberg terminals available to them in the David Wilson library to conduct their research. These terminals are specifically available for all economics undergraduate and postgraduate students.

Whilst Gianmarco had some experience of using Bloomberg in a previous work environment, the computer system was new to Seth. However, working as a team, the pair used a mix of technical analysis, fundamental analysis and use of information to make decisions on how to make their investments.

“We analysed graphs and previous performance on earnings releases. We also monitored the news about companies and the general economic and political scenario. We decided to take more risk investing in one stock more than diversify. Once we made a consistent profit, we lowered the risk and maintained a big percentage of cash and bought a small amount of less volatile companies”

 Gianmarco

Seth and Gianmarco’s strategy paid off! Throughout the majority of the six-week investment period they remained at the top of the table. By the end of the competition they had secured their position and won! Their prize includes an interview opportunity for one-week work experience in Bloomberg over the summer and lunch with Bloomberg senior management.

When asked, what they felt they had gained from the project, Seth replied;

“We gained practical experience of how to use the Bloomberg terminals like many traders. It was a great experience making decisions under pressure and diversifying our portfolio to spread the risk. It was also fun competing against other top universities and seeing how our strategies compared.

 

Gianmarco added that he felt “the experience helped to improve my skills in working under pressure, managing stress and taking decision quickly. Knowing my colleague before the competition was an advantage that allowed us to work better as a real team.”

Both students are en route to complete their dissertations and graduate with an MSc in Financial Economics in September 2014.

Students working on bloomberg

The Department of Economics congratulate Seth and Gianmarco on their achievement and wish them the very best of luck in their plans for the future. The Department is also grateful to them for their hard work in the competition and in acting as such successful ambassadors for the University and the Department of Economics.

For more information on the Bloomberg terminals please click here.

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