MADISON (WKOW) — Madison-area students took second place Thursday at the Junior Investment Club competition in Atlanta. The students won $750 for their achievement.
The 38th annual conference of 100 Black Men of America, Inc., sponsored by Wells Fargo, was held this week in Atlanta.
The conference featured workshops for high school and middle school students interested in finance, as well as a Junior Investment Competition, in which teams competed against other teams from around the country to get the most profit from their portfolios.
In the weeks leading up to the conference, students worked with mentors to learn about financial investing. Teams managed virtual investment portfolios and invested in stocks, bonds and mutual funds using computer simulators.
“We developed a junior investment club where students can spend four weeks learning about the stock market and not only learn, but put what they’ve learned into practice,” said Bonnie Wallace, head of financial health and philanthropy at the Wells Fargo Foundation.
As a bonus, Wells Fargo awarded the Madison chapter of 100 Black Men of America an additional $5,000 because the Madison team placed in the top 5. The students were also surprised to receive $200 to invest in their futures in the real world.
Milton H. Jones Jr., chairman of the board of directors for 100 Black Men of America, Inc., added, “It’s truly amazing to see our mentors work so hard to prepare for such an amazing event and then compete against each other to win.”
The student from Long Beach, California, said he wants to use what he’s learned to invest in the same markets he was involved in.
“I’m going to be investing my share in the stock market and I’m going to take what I’ve learned from the stock market game and invest in some of the same industries,” Lance Robert said.
His father said he learned as much from the module as he did from the younger participants.
“A lot of the guys, even the coaches, they say we’re learning from the kids. We’re learning from video. We’ve had to do research, I’ve had to look into retirement benefits and stuff myself,” said Dr. Lance Roberts Sr. “I’m an educator, I’m a college professor. I spend my time just giving and giving and I don’t really think about the financial stuff, but this has changed the game. I think that now.”
And the competition wasn’t just limited to boys, as one young woman, freshman Amelia Scott from Madison, said she was relieved the practice was over and grateful for the experience.
“I’m so happy to have this opportunity to be a part of it and represent Black women and excellence,” Scott said.
“It’s motivating. I think it’s a wonderful thing,” said Tamika Turner Graydon, another proud parent. “It opens up a young person’s world to know that a big company like Wells Fargo is investing in the growth of their community.”
