Yavneh Academy student Sophia Esses has been named the winner of the Stock Market Game’s Fall 2018 competition. Esses accumulated a total profit of more than $19,000 in just three days and then spent weeks watching more than 220 teams from North Jersey Middle School’s try to overtake her. Esses finished more than $5,000 ahead of her nearest competition. In the total state competition, which includes high schools, Esses finished in second place out of more than 1,800 teams.
Esses’ main investment was to short sell a volatility stock called TVIX. This is not a company but a bet against the way the S&P 500 Index operates. If the S&P 500 goes up, then TVIX goes down. Similarly, if the S&P goes down, then TVIX goes up. In Esses’ case, she short sold 1,000 shares of TVIX on October 4, for about $28 a share, then on October 10, she short covered (bought) it at $48 a share. The market at that time was very volatile and Esses made the correct choice that the market was going down.
Yavneh is very proud of Esses’ dedication to learning about the stock market. Her teacher, Don Cutler, has been successful now for seven consecutive years in at least one of the three competitions offered by the Stock Market Game. SIFMA, which oversees the competitions, provides free lessons and will send a professional to any school requesting it to help teach about the world of investment. Yavneh Academy is very grateful for the opportunity to participate in this great endeavor.
