DeSales Faculty Member Shares Top Spot in Barron's Challenge
Should Charles Finady, assistant professor in the business department at DeSales, ever tire of academia, he might want to consider Wall Street. Evidently, Finady knows his stock. According to an article by Robin Goldwyn Blumenthal in the current issue of Barron's, Finady is tied for first place among faculty members participating in the annual Barron's Challenge stock picking contest.
About 2,000 students and faculty from accredited institutions nationwide are participating in the current contest, which began in October and ends in March. Of those competing, 95 percent are students and 5 percent are faculty members.
As of January 15, 2007, the midpoint of the competition, Finady was tied with Andrew Vaino, a University of Maine chemistry professor, for first place among faculty members. Finady's estimated portfolio value was $119,678.04, just $50 less than Vaino's.
The competition calls for participants to use a hypothetical $100,000 to trade stocks listed on any of the three major exchanges (New York Stock Exchange, American Stock Exchange and Nasdaq) and priced at $3 or more when the contest begins. Students can not make more than 75 trades. Stock-Trak, a firm specializing in online portfolio simulations and based in Duluth, Ga., administered the five-month competition.
"The Barron's Challenge offers students an excellent way to learn about the stock market and the decisions inherent in constructing a diversified portfolio," said Finady. "Additionally, students learn the language of the market and the types of orders that can be placed."
Among the contestants are 29 students in Finady's Personal Finance class from the fall 2006 semester, including 17 seniors, 9 juniors and 3 sophomores. Also participating are four MBA students from a Behavioral Finance class and another DeSales faculty member, Dr. B.Bhagyavati, associate professor in business.
According to Finady, a native of Bethlehem, Pa., who currently resides in Nazareth, Pa., knowing something about how to make investment decisions is probably the greatest reward for all who participate.
DeSales has competed in three of the four previous Barron's Challenge competitions, with good results. In last year's competition from October 2005 to April 2006, Mike Zinn '06, of Hanover, Pa., placed third and Dave Graver '06, of Lancaster, Pa., placed seventh.
In the contest from February 2005 to May 2005, Russ Susko '05, of Hackettstown, N.J., placed tenth in the student division.
Press Release: DeSales Faculty Member Shares Top Spot in Barron's Challenge | Posted on: 2/9/2007
For more info:
Tom McNamara, Executive Director of Communications
DeSales University | 2255 Station Avenue | Center Valley, PA 18034
610.282.1100 x1219 | Tom.McNamara@desales.edu