A team of Dolan School of Business (DSB) undergraduate and graduate finance students recently traveled to Canada’s financial district to take part in the prestigious Rotman International Trading Competition(RITC). The experience, the team agreed, was a one-of-a-kind opportunity to put all of their learning into action.
RITC is an annual competition hosted by the Rotman School of Management at the University of Toronto. The three-day event utilizes simulated trading cases that mimic real-world market situations. All teams strive to produce the best returns on stock and bond trades. The trading scenarios they were exposed to included stocks, options, indices, and commodities.
Fairfield’s team consisted of graduate students Max Macauda and Brian Kelly and undergrads Alfred Vitsentzos ’12 and George Daniolos ’12. Drs. Walter Hlawitschka, department chair and associate professor of finance and Michael Tucker, professor of finance, served as the faculty mentors.
The fast-paced environment made the cases exciting and unpredictable for the team, who noted that the RITC exposed them to a type of learning that can only be fostered in that situation. Macauda said, “There were many times we had a plan or theory about something, only to encounter an obstacle and have to make a decision on our toes.”
Kelly, who is pursuing his master’s in finance and is the current Conlisk scholar noted how the simulated cases, “were like having real money invested in my trades in the sense that I really cared about what happened. Even having had a great interest in behavioral psychology before the competition, I learned that when trading, the ability to keep the same mind-set whether up or down is a lot easier said than done, but is fundamentally important in order to trade well.”
Macauda, who expects to graduate with his Master’s in Finance in the spring of 2012, said that the competition was a once-in-a-lifetime experience. “It was an honor to be part of a group that represented Fairfield University in such a recognized and intense competition.”
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