Trading Club competition winner receives $500 award

Penn State Altoona's fall semester Trading Club competition took place Oct. 1 to Nov. 21. Michael Black, who is majoring in finance, earned the first-place award of $500. The sophomore from Chalfont, Pa., expanded his portfolio by more than $62,000 over two months of virtual trading, a rate of return of nearly 25 percent. Second place went to Clayton Lukes, a freshman from Zelienople, Pa. Lukes, who is majoring in international politics, earned a $350 award. Third-place finisher Daniel Vaknin, a sophomore from Brooklyn, N.Y., who is majoring in finance, won a $250 award. All top 10 finishers grew their portfolios by at least $11,000.

“These are impressive results in a relatively short period of time,” said Robert E. Belsterling, Trading Club adviser.

The Trading Club competition provides students with opportunities to manage an investment portfolio on a virtual trading platform while acquiring a broader understanding of how financial markets function. Participants acquire a personal understanding of capital markets through simulated investments. All Penn State Altoona students are eligible to register for the competition, regardless of major. The fall competition included 36 participants.

Funding for the competition awards is made possible through the ongoing philanthropic support of Dr. Carroll P. and Diane S. Osgood, of Hollidaysburg, Pa. The Osgoods’ generosity made it possible for the Trading Club to present awards totaling $1,500 to the 10 students with the highest portfolio values on the final day of trading. Each award was based on a student’s ranking on the virtual trading platform.

Awards funded by the Osgoods were first presented for the 2012 spring semester competition. All awards are credited to the students’ Penn State accounts to defray educational expenses.

Last Updated December 06, 2013