Monday, April 22, 2002 Volume 67, Issue 135


 
 









 

Students find ups and downs while trading

By Luis Zepeda
Daily Cougar Staff

Thousands of dollars were earned and then lost in a matter of minutes. A student walked away in disbelief from the trading pit after losing
$50,000 worth of stock in natural gas futures. He was the latest victim of the unpredictability of the market but lucky for him, the money wasn't
real and the stock was fictitious.


Lorrie Novosad/The Daily Cougar

Students from the Bauer College of Business experience buying, selling and trading stocks at the "Finance Association Open Out Cry Trading
Competition" on Saturday.

Thirty business and finance students at the Bauer College of Business got a taste of real-world experiences on Saturday at the inaugural
"Finance Association Open Out Cry Trading Competition" that simulated real world transactions negotiated in an open out cry fashion.

"Overall, the competition allowed students to interact with local corporations in the Houston area and allowed them to a forum to show their
skills and talents off. Hopefully it will benefit them in getting jobs," said Percy Kapadia, student trading competition chair.

Students received advice on trading techniques from professionals before the trading began.

"Take your losses. A lot of small losses is OK; one big loss and you're gone. Think small losses, big profits," said David Signet, director of
Financial Products at Amerex. "If you've got a bunch of loses at $100 a piece and a couple of $5,000 winners, you've had a good day."

The new AIM Center for Investment Management in the Bauer College of Business was host to the competition, drawing more than 30
participants and dozens of bystanders wanting to find out what all the fuss was all about Saturday.

"(This competition) brings business partners into the college, like Amerex and others, with whom we need to build strong relationships," said
Daniel Currie, executive director of centers and institutes at the College of Business. "They're going to hire our students; they are going to ask us
to provide training. It's a proposition where everybody wins."

Judges measured how much money the students earned and how well they executed their trades in multiple business scenarios after the
closing bell to determine a winner. Cash prizes wereawarded to the top three participants.

Business and finance student Peter Nguyen, with a hypothetical net gain of $233,000 in stocks, secured first place and a check for $250. Gabriel
Mcgaughey and Chris Tea took second and third with net gains of $97,000 and $59,000, respectively.

"Without having something like this it is very difficult to have access to real life situations," Nguyen said. "Adrenaline rush, education, free food,
what more can you ask for?"

Sponsored by the UH Finance Association, Amerex, Duke Energy and the New York Mercantile Exchange, among others, the competition's
planners hope to attract students and graduates to the Bauer College of Business, Kapadia said.
 
 
 

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