Australian students take stock in JPMorgan Portfolio Competition

The 2008 JPMorgan Portfolio Competition is getting underway as more than 7,000 Australian university students will be competing against friends, classmates and others for an A$22,000 prize pool over an eight-week period.

Damian Roche, head of Equities at JPMorgan Australia, believes the competition is a great learning tool for students wishing to become  equity traders. "By playing the JPMorgan Portfolio Competition students can experience the life of an equities trader and take in the exhilaration of the Australian Securities Exchange," he said.  "It is a practical way for students to learn about financial market dynamics in a competitive environment."

The game enables students to gain trading experience by buying and selling shares. Each player is given a simulated stock trading account and a virtual A$200,000 balance to trade shares from the ASX300, as the Australian stock market is known. Then, they can buy and sell as often as they like and create stock watch lists and keep tabs on competitor portfolios.

The competitors also receive daily updates on the local and overseas markets to help make trading decisions. With simulated real-time market prices updating automatically every twenty minutes, competitors don't have to wait long to discover how their portfolio is performing.

Competition winners also have the opportunity to meet with key JPMorgan personnel, tour the trading floor, and be recognized at an exclusive award ceremony.

To see the 2008 JPMorgan Portfolio Competition website click here.