By Kristen Bossio '16
As the defending champions of a financial investment competition called the Adirondack Cup, members of Siena College’s team of portfolio managers have bull’s-eyes on their backs.
So far, the students seem unfazed.
The Siena College team is once again leading the investment competition during which groups of students from 18 colleges and universities manage a hypothetical small cap stock portfolio worth $1 million. During the 26-week competition, students spend time researching and analyzing stocks and ultimately decide how best to manage their portfolios.
As of November 8, the top teams included 1. Siena College (18.21% return), 2. Wesleyan University (8.79%), 3. State University of New York at Plattsburgh (7.09%) 4. Bryn Mawr College (6.81%) and 5. Hofstra Uniersity (6.27%).
The contest is sponsored by Adirondack Small Cap Mutual Fund. Principal Advisor Steve Gonick said his company launched the Adirondack Cup after receiving more internship requests than it could manage. Gonick said the stock picking competition helps students “get a foothold in the job market.”
George Waters ’14, a finance major with minors in computer science and information systems, is leading the Siena College team. This is his first year participating in the Adirondack Cup. “It provides real world experience in an academic setting and is a great opportunity to research and invest in stocks,” said Waters.
In addition to being team captain, Waters is interning with Gonick at Adirondack Funds. While there, he helps to synthesize some of the company’s sales analytics into user-friendly packages. He also acts as a liaison between Gonick and Siena College.
“The main thing I’m getting [from the internship] is experience with professionals,” said Waters.
Gonick is teaching Waters how the company interacts with clients, which will also help with networking, something that all participants in the Adirondack Cup can benefit from. There is a LinkedIn page that all participants, past and present, are invited to join. Not only can they connect with other students, but they can also connect with professionals.
Adirondack Fund receives many applicants a year, but they ultimately only hire one or two interns.
“[George] seems like one of those rare people who not only has a strong grasp of finance but can also be very comfortable making client presentations,” said Gonick. “This is extremely important because you rarely see this killer combination of skill sets in the finance world.”
It is early in this year’s Adirondack Cup competition, but Siena College is hoping to repeat as champions. Win or lose, the students are gaining invaluable experience.
“It’s going to help me in the future – there’s a direct benefit,” said Waters.
