Craig Middle School students succeed in stock market
May 8, 2015
Craig — Craig Middle School students swept the regional competition for the Stock Market Experience this year, snagging the top three places both semesters. Seven students from Virginia Pugh's financial literacy class celebrated their success with an awards presentation in Denver Friday.
The Stock Market Experience is sponsored by the Colorado Council for Economic Education and teaches students how to trade stocks and commodities using virtual money.
Teams spend the semester researching, buying and selling stocks using real-time prices with $100,000 of virtual money. More than 50 CMS teams in Pugh’s classes competed against nearly 1,700 participating middle school teams statewide.
The team consisting of eighth-graders Grady Anson, Jared Baker and Logan Knez won second place in the state by turning their initial $100,000 of virtual money into more than $400,000 over the eight-week period. Their success was in large part due to their risky decision to invest in commodities, including live cattle and petroleum crude oil.
"Honestly, we got lucky this year," Baker said. "But I got to the point where I was comfortable, where I felt like I knew what I was doing."
Pugh's financial literacy course — which is being cut next year — also teaches students about supply and demand, credit cards, interest rates, and basic money management skills. Bryan Ludgate, a financial advisor with Edward Jones, spoke to the class on several occasions.
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"These skills, like paying bills, that's going to affect every single kid, whether they go to college or not," Ludgate said. "If they can learn these types of skills when they're younger, it can help them go to college or buy their first home. They get excited about it, they love it."