A team of four students from Queen Elizabeth Grammar School in Wakefield have finished in third place in the 2013 ifs Student Investor Challenge.
The “Rogue Traders” team narrowly missed out on an all expenses paid educational trip to New York, in a tense final where they argued whether LIBOR (the London Interbank Offered Rate) can ever be trusted again.
The team, comprising of students Fabian Offori, Julian Ostrowski, Richard Odai and Vibhav Sajjan, finished in third place in the national final after completing a business challenge and delivering a presentation to a panel of judges.
Prior to this, the team finished as runners up in the trading part of the game, increasing their increased their virtual share portfolio by nearly than £80,000 in the space of three months, beating more than 30,000 other students in the process.
The free to enter competition, run by the ifs School of Finance and supported by Bloomberg, provides teams with £100,000 of virtual money to buy and sell shares in FTSE 100 companies. The competition gives teams of four students aged between 14 to 19 years old the opportunity to experience the dynamic world of share dealing and investing in the stock market. Now in its 21st year, the competition is the largest of its kind in the UK and is also open international students.
Rod McKee, Vice Principal at the ifs School of Finance said:
“The ifs Student Investor Challenge aims to encourage students to engage with the financial world and with the standard at this year’s final among the best we have ever seen, it was incredibly difficult to choose a winner. All of the teams should be proud of their achievements.
“We’d like to offer our congratulations go to the Queen Elizabeth Grammar School team, who were unlucky not to be crowned champions after a fantastic performance throughout the competition.
“They demonstrated a vast range of impressive skills and a thorough understanding of a difficult subject. We hope that they – and all of this year’s entrants – gain an understanding about managing money which will prepare them for their lives ahead.”
The final, which was held at the ifs School of Finance’s London campus, was attended by a host of renowned financial names, including Ian King, Business Editor at The Times, Renato Lima from Bloomberg and Lawrence Gold from BBC Show, the Bank of Mum and Dad.