Uruguay students in stock market smash
(BBC): For secondary school pupils in Uruguay, it was supposed to be a hands-on experience in the world of finance. It turned out to be a lesson that would benefit many, Wall Street analysts included. With $10,000 seed capital in hand, supplied by their professor of economics, two groups of 17 and 18-year-olds invested in stocks, obtaining an annual return of 42.5%. "Any hedge fund manager in the world would kill for those results," said John Younger, a Canadian national who worked in finance for 17 years in Canada and New York, before moving to Uruguay.
According to one of the schoolchildren, Jean Paul Deletraz, the key to their success is simple. "We are out there on the market, we understand the trends, what is cool or not, more than Wall Street bankers who spend their days behind their desks, away from reality," he says.
Category: Business
