If two Washington Irving students follow their instincts, they might very well wind up on Wall Street. Brandoll Almonte and Luca Dominguez won first place in the Stock Market Game, earning the highest percentage of gains compared to more than 80 other students.
23 teams from WI competed against students from Long Island to Albany over the past six months investing $100 thousand of virtual money in the Stock Market. The game is sponsored by the SIFMA Foundation, a non-profit organization that promotes the knowledge and understanding of the financial industry to people of all backgrounds.
The fifth-graders from Elisabeth Hickey’s Math Challenge class learned the history of the stock market, the concepts of trading, buying and selling, as well as the ins-and-outs of the Dow Jones Industrial Average and the NASDAQ Composite.
The class “purchased” stock in real companies including Google, Amazon and Coca Cola.
“If the stocks were low and we had a chance to buy, we did,” said Almonte. “If we didn’t make money, we sold half.”
Dominguez said, “I liked selling different stocks and reading about them and predicting.”
All the students learned how to read graph, create presentations, work in teams and compare their portfolios with the S&P 500.
Both Almonte and Dominguez are only 10 years old and they haven’t decided yet whether they’ll really work on Wall Street one day – but this experience has them thinking about investing when they get older.