Published Oct. 4, 2023
BY IMOGEN NICHOLSON
The new Competitive Investing Club, started by Carmel High School freshman David Bogart, is jumping right into action after competing in the online Wharton Global Investment Competition on Sept. 25.
“Competitive investing is something really cool that’s related to what I want to do for my career in finance,” Bogart says.
Nicolas Kraut, the vice president of the club, explains how he found out about the club.
“David asked me to join since he knows that I invest in stocks and that I am interested in finance,” Kraut says.
The Wharton Global Investment Competition starts online and the top 10 teams of high school students move to in-person nationals in Pennsylvania on April 19. The competitors start with a figurative $100,000 and try to make the most amount of money out of 3,500 other schools internationally. Teams need between four and six students to participate in the competition.
“If you qualify, you can move onto nationals,” Kraut explains, “and that’s what we are trying to do.”
A weekly club meeting for the competitive investment club looks at what the stock market is like currently. The club right ranges from eight to ten students, but club members are hoping it will grow as time goes on.
Bogart, the president of the club, says how important it is to keep learning about financial aspects such as exchange-traded funds and mutual funds. He also mentions the importance of keeping up to date with the stock market fluctuations of large corporations such as Amazon and AT&T.
The adviser for the club, CHS English teacher Mike Palshaw, says he knows little about investing, yet fully supports the club’s progression and success.
“Even though I really know nothing about investing, David was persistent and very excited about the club,” Palshaw says.
Kraut is confident that the club is well prepared for the competition and is already ahead of the game as a real investor, putting his skills to use during the competition.
“We have a good group of people, and with all our brains combined we will be fine,” Kraut says.
These students learning the ropes of the stock market could very well be paving a future full of investments.
Palshaw says, “The competitive factor is really about them practicing their understanding of stocks in a real world way without real world consequences.”