(KINGSTON, May 15, 2009): The Jamaica Stock Exchange’s Market Research and the Stock Market Game Competition, culminated with an award ceremony at the Knutsfort Court Hotel, 11 Ruthven Road; Kingston 10. Both ceremonies were combined, as according to Mrs. Street Forrest, General Manager of the JSE, “the two events have a synergetic relationship”.
The JSE’s Stock Market Game for High Schools which is sponsored by the Gleaner Company, was launched in October 2008 and provides new and exciting opportunities for students to experience how monies are invested for the long term on the stock market; while the Market Research Competition is in its sixth year, with its main objective to increase the interest and involvement of analysts and observers in the Jamaican stock market through in-depth analyses of the performance of listed companies.
In welcoming the guests to the event, Mrs. Street Forrest, General Manager of the Jamaica Stock Exchange, pointed out that “the two [events] are not distant cousins and are in fact intertwined. A key plank in the stock market game is that of analyzing the companies in which one wishes to invest. The Stock Market Game provides the avenue for the initial appreciation of the subject while the Market Analyst Competition analyses companies listed on the Exchange and advises investors and potential investors. Both competitions are geared towards the growth and development of the individual and the stock market.”
The Guest Speaker, Mr. Sushil Jain, Financial Advisor and retired Company Secretary of Seprod, in his presentation, spoke to the need for analysts to be definitive when recommending stocks to investors. That is, analysts must advise investors whether to buy, hold or sell a stock. According to Mr. Jain, “this can only be done when the analysts go beyond the financial reports and conduct indepth analysis of the listed companies by looking at the companies’ management structure, customer service, product and efficiency ratio”.
Mr. Hopeton Morrison, a member of the Market Research Committee, deputized for Mr. Claremont Kirton, Chairman of the Committee, who in his report commended the JSE for their vision and continued support for the competition. Mr. Morrison, then announced the winners of the competition. Miss Stephanie Shaw of Scotia DBG walked away with the JSE’s Market Research Competition trophy, as she was adjudged the winner, while Mr. Ferris Jackson; formally of First Global Securities and Miss Michelle Hirst, of Stocks & Securities were the first and second runner up respectively.
Hillel Academy was the Winning school in the JSE’s Stock Market Game for High School. Richard Azan of Hillel was adjudged the top student and Samuel Henriques from the same school the first runner up. St. Jago was awarded second place in the school’s category, with Lymanio Ledgister, awarded second runner up in the student category. Miss Barbara Salmon and Miss Elorine Johnson teachers of Hillel and St. Jago respectively were also rewarded for their preparation of the students, for the competition.
