Top student wins stock market challenge
On Tuesday, Oct. 11 in the Gould Trading Floor, a representative from Disnat/Desjardins awarded prizes to the winners of the challenge.
The grand prize winner was third-year commerce student Niroshan Arumugam, who received $500 for achieving the largest portfolio value and cash gain using imaginary cash. Niroshan took an initial 'pot' of $50,000 and by the end of the contest grew this to more than $200,000. That rate of return greatly impressed the Disnat officials who sponsored the contest. Arumugam was the winner of the month for July, August and September, receiving $150 each month. The June winner was Kate Morrissey.
During the challenge, which began in May, students tested their investment prowess against that of their professors, DeGroote staff and alumni. Special guest investor, Felix the Cat, challenged the students by making random stock investments.
The prizes were sponsored by Disnat, a division of Desjardins Securities, the brokerage arm of the Desjardins Group.
George Papayiannis, a McMaster software engineering and management student, developed the simulation. The web platform is now available free online and is being used in stock challenges across North America.