From Virtual Riches to Real Rewards: New Hartford High Seniors Win Big in Stock Market Competition

The year is two thousand twenty-four, and four seniors at New Hartford High School have achieved something remarkable: transforming virtual money into a tangible cash prize. This impressive feat was accomplished through their participation in Ithaca College’s High School Investment Competition.

Setting the Stage: The Competition

The story begins in Andy Goodelle’s personal finance class, where every fall, students delve into the world of stocks, mutual funds, and savings accounts. A key part of the curriculum is participating in the Ithaca College competition.

This year, over one thousand students across one hundred thirty-nine high schools participated, forming three hundred seventeen teams. New Hartford High School alone had ten teams, mostly consisting of four members each. The challenge: manage a virtual portfolio of million dollars invested in the stock market from November to March.

Initial Hesitation and Growing Excitement

For some students, the competition is just another assignment. However, others, like the four seniors who would go on to win second place, find themselves captivated by the stock market’s allure. Goodelle observes that “once they start investing, the addiction is real,” with students constantly checking the stock ticker in his classroom and even from the parking lot. The competitive spirit thrives, with friendly banter and trash talk adding to the excitement.

The Winning Team’s Journey

Initially, the second-place team, composed of seniors Nick Bennett, Vinny Diodati, Nick Massoud, and Wade Ruhnke, seemed unremarkable. They played it safe, sticking to well-established blue-chip stocks like Apple, Microsoft, and NVIDIA.

With six weeks remaining, they languished around one hundred fortieth place. However, a strategic investment by Nick Bennett in MicroStrategy, a business software company heavily invested in Bitcoin, turned their fortunes around. This bold move paid off significantly, propelling their portfolio upwards in the final weeks.

Reaping the Rewards

The team finished the competition with an impressive fifty-eight percent return on their initial virtual investment, securing second place. This achievement translated into a two-thousand dollar cash prize, split between the school and the four team members. The winning team from Greenhills School in Ann Arbor achieved a sixty-three percent return, while Oakwood Friends School in Poughkeepsie came in third with a fifty percent return.

More Than Just Money: The Impact

Matthew Fox, the investment program manager at Ithaca College, highlights the competition’s goal of inspiring future financial leaders. He notes the unique perspective high school students bring to investing, evident in the top teams outperforming the S&P five hundred’s twenty percent return over the same period.

“It’s really exciting to see what these students can accomplish,” says Fox. “They bring a fresh perspective and a willingness to take risks that you don’t always see from seasoned investors.”

Building Financial Literacy and Confidence

For the students themselves, the competition is about more than just winning money. It’s an opportunity to learn about the stock market, develop financial literacy skills, and gain valuable experience that will serve them well in their future endeavors.

“I never really thought about investing before this class,” admits Nick Bennett, the student who made the risky MicroStrategy investment that propelled his team to victory. “But now I’m hooked. I love the challenge of researching companies and trying to predict what the market is going to do.”

Inspiring Future Careers in Finance

Goodelle, the personal finance teacher who has witnessed firsthand the transformative power of this competition, sees it as a valuable tool for sparking an interest in finance among young people.

“Many of my students have gone on to pursue careers in finance after participating in this competition,” says Goodelle. “It’s incredibly rewarding to see them taking what they learned in my classroom and applying it to the real world.”

A Legacy of Success

This isn’t the first time New Hartford High School students have tasted victory in the competition. A two thousand eighteen win funded the electronic stock ticker displayed in Goodelle’s classroom. The wall also boasts giant checks from their two thousand eighteen and two thousand twenty-two triumphs. Remaining prize money funds a personal finance award for a student pursuing finance in college, a testament to the competition’s impact on students’ career aspirations.

The school’s consistent success in the competition is a testament to Goodelle’s dedication to teaching financial literacy and the students’ enthusiasm for learning about the stock market. It’s a winning combination that is sure to continue producing impressive results for years to come.

Creating a Ripple Effect

The impact of New Hartford High School’s success in the Ithaca College High School Investment Competition extends far beyond the walls of the school. The students’ achievements have inspired other schools in the district to place a greater emphasis on financial literacy, and the community has rallied around the students, celebrating their success and recognizing the importance of their accomplishments.

As one New Hartford resident put it, “These kids are our future. They’re learning how to manage money, make smart investments, and build a brighter future for themselves and our community. That’s something we can all be proud of.”

Conclusion

The story of these four New Hartford seniors exemplifies how an educational competition can ignite passion, foster financial literacy, and even pave the way for future success. Their journey from hesitant participants to savvy investors highlights the power of hands-on learning and the thrill of turning knowledge into tangible rewards.

As the students prepare to graduate and embark on the next chapter of their lives, they carry with them not just the knowledge and skills they gained from the competition but also the confidence and determination that come with achieving a significant victory. And that, perhaps, is the most valuable reward of all.