Business students place 5th out of 75 schools in national firm performance competition

Business students representing Salve Regina’s Options Trading Club (OTC) attended the ninth annual Student Managed Investment Fund Consortium’s (SMIFC) conference in Chicago, Illinois, on Oct. 5-7, thanks to generous funding provided by the Andrea and Theodore Giletti Fund for Experiential Learning.

While there, the team entered the Firm (Amazon) Performance and Investment Analysis contest against an array of formidable nationwide competition. The contest attracted entrants representing more than 75 consortium colleges and universities from around the country, including large institutions like Pennsylvania State, University of Connecticut, Auburn University, George Washington University, Princeton University and the University of Michigan.

Despite the strong opposition, the Salve Regina OTC student team finished fifth place for the depth and professionalism of their submission.

“We are just a tiny school in the smallest state, and to be placed so high nationally really shows how much work we put into this project,” said Connor Sirot ’23, a financial management major with minors in economics and business administration. “This could not have been done without all of my teammates, Professor Sacco and Salve Regina for sponsoring us to go to this wonderful event.”

The students utilized analytical techniques and tools studied in their finance, business, and economics classes. They also researched various industry, company-specific data, and macroeconomic data, as well as institutional research to develop a comprehensive financial analysis and valuation model. The team members met for several evening sessions privately and with Sam Sacco, lecturer in business and economics and OTC faculty advisor, to refine their analysis, draft a final valuation and investment position, and develop the final 5-10 page SMIFC submission.

The Student Managed Investment Fund Consortium conference offered a series of networking opportunities with investment research firms, a visit to the trading floor of the Chicago Board of Options Exchange and several presentations by investment research firms, technical analysts and portfolio managers.

The purpose of the consortium is to enhance student learning and scholarship, record best practices in investment management among SMIF partners, and provide a vehicle for student networking and exchange of ideas. The SMIF Consortium builds a community of institutions with a shared vision for student success and leadership in investing. The SMIF Consortium also establishes relationships with industry partners to assist in its primary goals of student education, research, and leadership.

“It was a phenomenal experience to say the least,” said Sirot. “From touring around a city that I have never been to before, to listening to speakers, to networking with them so that in the future they can connect me with a job or an opportunity.”

The Options Trading Club (OTC), which was started in 2019 at Salve Regina, meets weekly and offers opportunities to practice with market simulation tools, listen to guest speakers, and pursue networking opportunities. The OTC is open to all members of the Salve Regina community. The organization’s focus is to teach members about the basics of options trading, developing a strategy, and performing an ongoing paper trading simulation. The simulation allows members to see trends in their trades and develop their own strategies. Group seminars are implemented to discuss various companies, what is occurring in the market and different stocks to be paying attention to.