Business students representing the Options Trading Club (OTC) of Salve Regina attended the ninth annual Student Managed Investment Fund Consortium (SMIFC) conference in Chicago, Illinois, October 5-7, thanks to generous funding provided by the Andrea and Theodore Giletti Fund for Experiential Learning.
While there, the team competed in the company’s (Amazon) Performance and Investment Analysis competition against an array of formidable competitors nationwide. The competition attracted entrants representing more than 75 consortium colleges and universities from across the country, including major institutions like Pennsylvania State, University of Connecticut, Auburn University, George Washington University , Princeton University and the University of Michigan.
Despite strong opposition, the Salve Regina OTC student team finished fifth for the depth and professionalism of their submission.
“We’re just a small school in the smallest state, and to be ranked so high nationally really shows how much work we’ve put into this project,” said Connor Sirot ’23, a financial management major with minors in economics and business administration. “It couldn’t have been done without all of my teammates, Professor Sacco and Salve Regina for sponsoring us to attend this wonderful event.”
Students used analytical techniques and tools studied in their finance, business and economics courses. They also researched various industry, company-specific and macroeconomic data, as well as institutional research to develop a comprehensive financial analysis and valuation model. Team members met for several evening sessions in private and with Sam Sacco, Lecturer in Business and Economics and OTC Faculty Advisor, to refine their analysis, draft a final valuation and an investment position. , and expand the final submission to 5-10 SMIFC pages.
The Student Managed Investment Fund Consortium conference offered a series of networking opportunities with investment research firms, a tour of the Chicago Board of Options Exchange trading floor and several presentations by investment research firms, technical analysts and portfolio managers.
The aim of the consortium is to enhance student learning and scholarship, record best practices in investment management among SMIF partners, and provide a vehicle for networking and exchange of knowledge. student ideas. The SMIF Consortium builds a community of institutions that share a common vision of student success and investment leadership. The SMIF Consortium also builds relationships with industry partners to help it achieve its primary goals of education, research, and student leadership.
“It was a phenomenal experience to say the least,” said Sirot. “To go around a city I’ve never been to before, to listen to speakers, to network with them so that in the future they can connect me with a job or an opportunity.”
The Options Trading Club (OTC), which was launched in 2019 in Salve Regina, meets weekly and provides opportunities to practice with market simulation tools, listen to guest speakers and seek out networking opportunities. The OTC is open to all members of the Salve Regina community. The organization’s goal is to teach members the basics of options trading, develop strategy, and perform an ongoing paper trading simulation. The simulation allows members to see trends in their trades and develop their own strategies. Group seminars are set up to discuss various companies, what is happening in the market, and different stocks to pay attention to.