The Eye: Everitt’s nest egg hatches, sort of
The Eye wants to know:
How have you been doing in the market lately? Not so hot? Join the crowd.
Few have won this game, the one that has stock pickers analyzing P/E ratios and scanning investment bankers’ reports for uncut gems among the rotten eggs.
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If winning means losing less — and that’s the way the market has to be measured these days — then among this year’s winners are a group of students at Colorado State University’s College of Business, managers of the Summit Student Investment Fund.
The fund was created in December when local businessman and philanthropist Bob Everitt, founder of Fort Collins real estate development giant the Everitt Cos., chipped in $50,000 to launch a fund that students could, well, play with. Everitt sought, and got, other businesses to chip in, bringing the Summit fund to $100,000.
How’d they do?
“Although we were down 9 percent, overall we’ve done better than most who have an aggressive growth strategy,´ said Chris Linder, chairman of the student group.
Only 9 percent? Hooray!
Throughout the plunge the markets have taken the past couple of months, the student investors met weekly to hash over options and debate pros and cons of specific stocks.
A stock was added to the portfolio only if nine of the team’s 12 members agreed.
The CSU team’s performance earned it a trip to Dayton, Ohio, in early April as a top-five finalist in the nationwide competition. There they watched while the University of Dayton took the top award (is there a fix on, here?). No place finishes were awarded, so the Summit group has no way of knowing how close they were to topping the field.
All the Eye knows is, they probably did better than you.
The Eye wants to know:
How have you been doing in the market lately? Not so hot? Join the crowd.
Few have won this game, the one that has stock pickers analyzing P/E ratios and scanning investment bankers’ reports for uncut gems among the rotten eggs.
If winning means losing less — and that’s the way the market has to be measured these days — then among this year’s winners are a group of students at Colorado State University’s College of Business, managers of the Summit Student Investment Fund.
The fund was created in December when local businessman and philanthropist Bob Everitt, founder of…
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