A team of three Lake Havasu High School students were chosen as one of the top ten schools nationwide to go on an all-expense free educational trip to Washington D.C.
LHHS juniors Brandon Larson, Ellie Carpenter and Senior Warren Marin participated in the Capitol Hill Challenge sponsored by SIFMA (Securities and Financial Markets Association) and the SIFMA Foundation in cooperation with the Charles Schwab Foundation. LHHS students were overseen by Anthony Mallinger, business management teacher at LHHS.
Four thousand students from across the country, with teams from all 50 states, were given $100,000 of virtual money to manage portfolios of stocks, bonds, mutual funds and cash. The competition lasted for 14 weeks at which point the ten top performing teams were selected.
Larson, Carpenter and Marin made the cut by placing tenth behind Lincoln Community High School, IL, Houston Middle School, TX, McLaurin High School, MS, Florence High School, AL, Benson Secondary/S.E.A.R.C.H., AK, Homer-Center Jr/Sr High School, PA, Ada-Borup-West High School, MN, Plainfield Central Middle School, CT and Prince David Kawananakoa Middle School, HI.
“We had to buy a bunch of different types of investments to diversify our portfolio,” Larson said. “We invested in some risky stocks to quickly turn a profit and get the most money we could in this short time period.”
According to a press release from SIFMA and the SIFMA Foundation, students were selected based on who had the most diversified and top performing portfolio among all schools that participated nationwide.
“Many young adults begin their financial journeys without adequate knowledge, which can have lasting implications,” said Lisa Hundt, a director of the program. “Programs like the Capitol Hill Challenge empower students with the skills to build wealth through investing, creating a ripple effect of financial stability for themselves, their families, and their communities. Our commitment to this program reflects Schwab’s core belief in the transformative power of financial education.”
The three LHHS students will be traveling to D.C. in June, where they will have three days at the nation’s capital. There, they will be able to visit the national monuments as well as attend an award’s ceremony inside the capitol building and meet with Rep. Paul Gosar. “It’s very excit[ing] and I’m very honored to be recognized on such a scale,” Larson said. “I’m most looking forward to touring the city and seeing all the historical landmarks.”
This year marked the 20th anniversary of the Capitol Hill Challenge, and SIFMA, the SIFMA Foundation and the Charles Schwab Foundation intend to continue the program in years to come. “I congratulate all participants of the Capitol Hill Challenge and extend my gratitude to the Charles Schwab Foundation and every Member of Congress involved in this initiative,” said Melanie Mortimer, president of the SIFMA Foundation. “SIFMA Foundation’s public-private collaborations bring essential financial education to schools nationwide, ensuring that young people gain critical insights into capital markets, asset-building opportunities and better financial life outcomes.”
Courtesy of Today's News-Herald, Madeline Armstrong
Monday, May 27, 2024