Georgetown Students turn $1 Million into $383 Billion in University Challenge
A Georgetown McDonough team won the “Best Hedge Fund Strategy Award” in the Peeptrade Challenge in an event hosted by the University of Chicago.
From Peeptrade Challenge participants to hedge fund founders!
The Financial Times Article Reads “Jonathan Levi, 29, an MSc in finance student at the McDonough School of Business at Georgetown University in Washington DC, is co-founding a hedge fund with a school alumnus who has pledged $4m, he says.
They were inspired after winning an award in the 2018 Peeptrade University Challenge, a trading simulation contest for business school students. Their team turned a $1m portfolio of stocks, options and ETFs into $383bn over eight weeks, which was a global record in paper trading returns.
COMPETE WITH TOP UNIVERSITIES AROUND THE WORLD AND WIN A FREE TRIP TO CHICAGO FOR THE FINAL EVENT!
“We made a name for ourselves in the competition, which drummed up investor interest in a potential fund of our own,” Mr Levi says. Now he is opening a trading account, he says. “We’re going to test the strategy we used in the competition and try to turn paper into real returns.”The Georgetown McDonough team used a momentum options strategy, trading within major indexes including the S&P and Nasdaq. the team used several technical analysis tools.
“The challenge was a great opportunity to get to know other MSF students both personally and professionally. “The Challenge gave me a chance to apply options trading strategies and risk management frameworks that I’ve developed over the past decade as an individual trader and investor,’’ added Jonathan Levi.
“We created the Peeptrade Challenge to give students a real money management experience. We are thrilled to see that the challenge is now a platform where young talent is discovered.” Said Juan Mendoza, founder and CEO, Peeptrade.
The Peeptrade University Challenge is a competition that provides students with a real-world, hands-on financial asset management experience on a world stage. Through The Challenge students develop advanced portfolio management skills, helping them achieve their career goals. Teams from schools located in 18 different countries from 5 continents compete in The Challenge. These universities include: London Business School, MIT Sloan, University of Chicago, Dartmouth, Princeton, USC, INSEAD, University of Technology of Sydney, Hong Kong Baptist University, IPADE.
- S Prev