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Whether you know nothing or everything about stocks, the University of Maine Student Portfolio Investment Fund of the University of Maine Foundation and the University of Maine Business School have created a contest that everyone can enjoy. This competition will either teach you something new or allow you to use your current knowledge to take a chance with an invented stock market.
The contest consists of a $100 cash prize to the winning five stock picks after three months.
Adding some excitement to the competition, Robert Strong, professor of finance and SPIFFY adviser, will throw a dart at the Wall Street Journal, picking five stocks at random that participating students and faculty members will compete against.
Strong is the 2005 distinguished Maine professor whose stock market insights are widely respected.
SPIFFY, the undergraduate student investment group is very familiar with areas of money and business. Established by the University of Maine Foundation 12 years ago with a $200,000 starting fund, SPIFFY crossed its million-dollar mark last year and now has a $1.1 million real-money investment fund.
The contest was designed to prod at testing a prominent finance theory that states no investor can consistently outperform a random stock portfolio.
With the contest entries being the investors, and Strong as a random portfolio, the outcome of the contest is sure to add insight to this theory.
William R. Sulinski, a senior financial economics major involved in the creation of the contest, hopes to get even more out of this competition.
“Hopefully this will bring attention to the Maine Business School and one of its most publicized student organizations,” said Sulinski.
The contest will begin this month. To enter students have to do pick five stocks and FirstClass them to “SPIFFY CONTEST.” Information is also available at www.spiffyfund.org.
Bangor Daily News