The Hiram College Investment Club earned the first-place trophy for the Oak Associates Investment Team Challenge announced at an awards ceremony held at Mount Union College on Thursday, April 10. The club’s 46% annual return far outpaced second and third place winners, Mount Union College and Duquesne University. The annual competition among colleges and universities is sponsored by Oak Associates, an investment management firm in Akron, Ohio.
“The group had an interesting strategy,” said club advisor and assistant professor of accounting and financial management Earl Kissell. “They decided to invest more money in fewer stocks,” he said. Strategy and luck collided as the team invested heavily in companies like Apple, Inc., which posted great results last fall.
Approximately 60 students participate in the investment club each year, directing the investment strategy for its holdings. The club’s holdings are currently valued at approximately $47,000. The club gives 5% back to Hiram College annually.