Mr.Travis Norman received his prize from Mr. Robin Levy; General Manager JCSD & Deputy GM JSE
The Jamaica Stock Exchange launched its Public Stock Market Game at an Investor Forum held at the Terra Nova All Suite Hotel on October 3, 2013, during its 2013 National Education Week, which was observed from September 30-October 4, 2013.
The Public Game is an extension to the High School game and the Young Investor competition that is aired on CVM during the On a Personal Note series. Like its “close-cousins”, the Public Game is a web-based simulation that allows individuals to do virtual buying and selling of stocks traded on the JSE during regular trading hours, 9:30am – 1pm, Mondays to Fridays. Participants compete against each other over a twelve months period to see who can increase their starting portfolio of J$100,000 in virtual money by investing in a portfolio of securities that are traded on the JSE. The rules of trading are intended to closely replicate real market trading conditions, except that no brokerage or Exchange fees are charged for these transactions.
The top three individuals with the highest portfolio value at the end of the period will receive cash prizes of JA$100,000, $75,000 and $50,000 respectively. Quarterly prizes will also be given to the top three virtual investors per quarter.
The objectives of the JSE Public Stock Market Game are to help individuals understand:
- How to trade in the stock market
- How to invest in and manage a portfolio of securities
- The costs and benefits involved in economic decision-making
- The value of stock market investment as a means of accumulating wealth
The JSE believes that the Game will help to promote public understanding of the stock market and the economy and create awareness about the role of the stock market in a building personal wealth and aiding the Country’s economic development.
Sixty-three participants were registered when entries closed on November 8, 2013.
After the first three months of trading, Travis Norman holds the lead and is the first quarter winner with a portfolio value of over $523,000 (a 423% increase in portfolio asset value), while in second place is Aaron Higgins whose portfolio valued at $380,000 (280% increase) and in third place is Tevon Norman with $311,100 (211% increase). Babette Higgins $250,500 is in fourth place, Rairick Lindo with $209,200 in fifth and Samuel Downer with a portfolio value of $208, 000 round off the top five.
General Manager of the JSE, Mrs. Marlene Street Forrest, stated that “the structured approach of developing an understanding of the market from high schools, through tertiary education(Young Investors) and now into the general public will provide a fulsome platform for persons to better understand how the market works. Such persons will be empowered and encouraged to participate in the actual market”.
Mrs. Street Forrest also congratulated all the participants, but especially the three first-quarter winners, and encouraged others to renew their challenges with vigor for the next quarter. She also took this opportunity to thank Dolphin Cove for donating the quarterly prizes.
