WATERBURY, CT (December 6, 2023) – A team of Post University students bested 1,725 teams in a six-week international trading challenge, earning first place in Connecticut, 12th place in the United States, and 47th in the world.
This is the fourth time that a finance team from The Malcolm Baldrige School of Business at Post University competed in the Bloomberg Trading Challenge to earn the highest virtual profit, and their adviser, Dr. Hamid Malakpour, couldn’t be prouder. The first was just before the pandemic and was shut down when the shelter-in-place order came out.
“This is an amazing accomplishment. I am extremely proud that our students from The Malcolm Baldrige School of Business have completed the challenge,” expressed Dr. Malakpour, the program chair of finance department. “We integrate Bloomberg into the teaching of various courses in the business school. Finishing in the 47th position is another testament to the strength of our practical and experiential learning approach to finance.”
The students on the team, all finance majors, were Drew Paskanik (Junior), Francisco Sousa (Junior), Paul Ludwig (Junior), Keegan Dally (Junior), and Matteo Peca (Sophomore). The group says their classes were instrumental in developing their strategy, maintaining confidence, and achieving their goals.
Through this competition, the students competed against other students around the world to experience firsthand what real-world investing looks and feels like. The Post team bested teams from the University of Connecticut, Columbia, Cornell, John Hopkins, the University of California (Berkeley), the University of Chicago, and other state and private universities. The winning team was from Hong Kong University.
“We are all so wicked proud of what this team has accomplished. Their hard work and resilience have not only earned them this well-deserved recognition but have also set a shining example for others to follow,” said Interim Co-Provost and Chief Academic Officer Jeremi Bauer, DBA.
The Challenge began on October 9, 2023, and concluded on November 17, 2023. Each team had $1 million virtual dollars to invest. The winning team had the highest time-weighted relative return relative to the Bloomberg World Large, Mid & Small Cap Price Return Index (WLS Index). The challenge takes place entirely within the Bloomberg Terminal and allows students to show and test their skills and knowledge of finance. Teams use the Terminal to define market assumptions, develop a return-generating strategy, and execute trades within a closed network. The team with the highest return based on their relative P&L via the Terminal is the winner.