November 24, 2020

Saxon Congratulate Student Investors

Pin It

543GEORGE TOWN, Grand Cayman – One of the Saxon Investment Club groups calling themselves Modern Day Investors would appear to have something to teach the portfolio managers of Toronto, New York and London. More impressive is their leading streak for four months running.

The two members of the team, Michael Ebanks and Valdin Bailey have led the competition for four months in a row. Both student investors are ICCI students (Bailey studies Finance and Ebanks Accounting) and have virtually banked returns of $175,406.64, boasting a record new net worth to their portfolio of $275,406.64.

In mid September students from each school formed into small teams to choose, analyze and hypothetically trade stocks in accordance with real-time stock market information. They embarked on October 1st 2012.

Commented CEO of Saxon Brian Williams, “I am proud of our students for completing their fourth month – I am sure it has been a learning curve for all of them. The fact that both are Caymanians and students of ICCI should make us all proud.”

He added, “Paramount to establishing this club was to offer a platform for our local youth to be exposed to the realities of the investment world from a young age – providing them with the insight and knowledge as they get ready to enter the working world, and learn about fiscal responsibility.”

Each group began the with a virtual cash position of $100,000 and chose stocks based collectively on their interests or research. Students were encouraged to invest in companies that are relevant to their interests such as Google, Apple, Texaco, and Facebook. Mr. Williams added that “it often helps to invest in products, services and fields that we know well, and these numbers would seem to support that wisdom”

The lagging teams have been meeting to reassess their strategies to ensure they learn from the previous month’s experience – in turn, gaining from what they learn.

Each group’s portfolio will be reported and monthly performance prizes, as well as a grand prize of $ 2500 USD, are up for grabs. Results will be announced upon this year’s Club termination in March.

About Saxon

Saxon is comprised of Saxon Pension, client services agent for Silver Thatch Pensions, and SaxonMG, the most recognizable auto insurance provider in Cayman.” Saxon Pensions is a pension services provider in the Cayman Islands. Powered by dynamic people using superior technology, delivering client and administrative services to more than 15,500  individual account holders with assets in excess of $300 million, Saxon Pensions has gained an enviable reputation and is recognized as a leader in its market. Facilitated by investments in technology, Saxon Pensions is capable of providing flexible solutions in both the onshore and offshore pension environment while maintaining a personal approach to client relationships. For more information, please visit:  www.silverthatch.org.ky

SaxonMG is the only wholly Caymanian owned insurance company in the Cayman Islands, committed since 1967 to providing affordable car insurance while emphasizing prompt service with a personal touch. For more information, please visit: www.saxonmg.ky

 

Print Friendly, PDF & Email

Speak Your Mind

*