Fisher Team Takes Third Place in Adirondack Cup Investment Competition
A team of St. John Fisher College accounting students claimed third place in the 2013 Adirondack Cup, a competition during which college teams compete against each other over six months to build and grow a small cap portfolio of stocks, just like the professionals at Adirondack Small Cap Mutual Fund (ADKSX). The Fisher team accepted the award at a luncheon on Thursday, April 25.
The competition is sponsored by the advisor to the Guilderland, N.Y.-based mutual fund, an owner-managed fund recognized in 2011 and 2013 by Lipper Inc. as the best small cap value mutual fund in the U.S. for the three-year period from 2008 to 2010 and the five-year period from 2008 to 2012, respectively.
Students from 18 colleges and universities across the Northeast participated in this unique competition, managing a hypothetical small cap portfolio of stocks valued at $1 million. The goals of the competition, which is in its second year, are to teach students the difference between trading stocks and thinking through their investment decisions for the long-term and to help them make appropriate connections in the financial services sector as they prepare to enter the job market. The winning team was Siena College of Loudonville, N.Y.
At the start of the competition in October 2012, students were expected to do their research, create a thesis on their stock picks, and determine investments and allocation by October 14. Each portfolio had to include a hypothetical $1 million invested in five small cap stocks (defined as companies with market caps between $50 million and $3 billion). Each of the five stock picks had to be from a different industry, and each holding had to be at least five percent but no more than 50 percent of the portfolio. Teams were allowed to make changes to their portfolio only twice during the contest period.
“We have a strong network of clients, particularly in the Northeast, who have been actively tracking the performance of students from their favorite schools. This has given the students a great opportunity to build their contacts as they enter the workforce,” said Adirondack Principal Steve Gonick.
The other colleges participating in the competition were Binghamton University, Bryn Mawr College, Clarkson University, The College at Brockport, The College of Saint Rose, Hofstra University, Ithaca College, Rochester Institute of Technology, State University of New York at Geneseo, State University of New York at Plattsburgh, St. Lawrence University, Stony Brook University, Stony Brook University Graduate School, Union College, University at Albany, and Wesleyan University.
The Adirondack Small Cap Fund was launched in April 2005 and has enjoyed strong growth. It has approximately $115 million in assets under management today.
Check out photos from Fisher's 2015 Commencement Ceremonies on Flickr!
Latest College News Stories
- Fisher Alumna Pens RomCom Novel
- Retired Political Science Professor Publishes First Novel
- Chemistry Graduate Wins TA Scholar Award from LSU
- Bank of America Awards $5,000 Grant to Fisher’s College Club Program
- Political Science and Statistics Faculty Wins Fellowship
- Fisher’s Tech Support Services Director Shares Best Practices at Tech Summit
- School of Pharmacy Faculty Present at National Conferences
- St. John Fisher College Mourns the Loss of Reverend Joseph Lanzalaco, C.S.B.
- Middle Schoolers Stop By Fisher for Digital Download
- Pharmacy Student Matthew Yacobucci Awarded AACP Walmart Scholarship
- Join the Office of Multicultural Affairs and Diversity Programs for Summer Fun in Rochester
- Buffalo Bills Announce 2015 Training Camp Ticketed Practice Information
- Sarachan is "Five Minutes of Fame" Presenter at New Media Consortium Conference
- Fellowship Sends Journalism Instructor Back to the Newsroom
- Cooney Miner Selected to Participate in Rochester’s Anti-Poverty Initiative