May 8, 2013 at 6:18 a.m.
KPMG Investment Challenge
CedarBridge shows off its financial chops
CedarBridge Academy’s Core Investment team is the winner of this year’s KPMG Investment Challenge.
Not only did they win the challenge, but also the school’s second team, Crunch Time Investors, placed third. It is the first time two teams from the same school have been in the top three.
The school walked away with a total of $14,000 in prize money — $10,000 for first place and $4,000 for third.
Second place went to Berkeley Institute’s Game Changers who walked away with $6,000, making it a public school sweep.
The winners were announced at a reception at the Bermuda Society of Arts yesterday.
Crunch Time Investment was made up of JD Symonds and Ethan Rogers.
Speaking after their win, JD said: “I’m ecstatic!”
Ethan added: “We’re still trying to compute it all. We didn’t expect it.”
The team was in the lead in March as well. The final scores were tallied at the end of April.
The team’s teacher, Dean Foggo, also expressed how excited he was with the win.
“We started off in last and third to last.
“I told the teams don’t worry about that, we’re looking to see where we’re going and not where we are.
“They held on to that with the help of the mentors from KPMG. They paid attention to what we told them in the beginning. They didn’t get discouraged this year like last year.
“I’m excited they are successful. First and third, I’m overjoyed.”
Asked where the money will go, Mr Foggo said: “We’re thinking about getting for the business department a nice set of cameras so that the teachers can videotape their lessons in the event that they are off sick.”
Mr Foggo also said the team members would also get something out of the money as well, along the line of scholarships.
Craig Bridgewater, a partner at KPMG served as emcee for the event and said: “We are proud to have continued this and the objectives we set for ourselves.
“The challenge was launched in 2005 and the idea behind it was to get some interest for students in the investing arena and give KPMG a chance to get into the schools.”
He explained each team was given a mythical $50,000 to invest. The contest ran through April and the team that had the most money in the end was the winner.
Education Minister Nalton Brangman was also at the event and encouraged the students to develop their interest in investment.
“As a country who has made its mark in the world as a financial centre, we need all of you to apply yourselves.”
Mr Brangman said many Bermudians often spoke about how there are so many expats in Bermuda, especially in this industry.
“If you don’t develop yourselves, employers have nowhere else to look but overseas.”
Mr Brangman said he was in talks with the Bermuda Insurance Institute to implement international business and insurance studies into the school system.
“All of you students are in the front line for great opportunities and this government is going to what’s required to facilitate your success.
“We’re going to make sure as a community that you’re all going to succeed.”
| Ranking School | Team Name | 26-Apr-13 | 29-Mar-13 | 22-Feb-13 | 25-Jan-13 | 14-Dec-12 | 23-Nov-12 | 2-Nov-12 |
| 1 CBA | Core Investment | 62,024 | 59,305 | 57,439.41 | 56,363.00 | 51,172.00 | 49,955.00 | 49,640.00 |
| 2 Berkeley | Game Changers | 59,245 | 58,702 | 56,919.06 | 53,979.00 | 50,220.00 | 50,250.20 | 49,474.00 |
| 3 CBA | Crunch Time Investors | 59,162 | 57,695 | 54,194.30 | 53,871.00 | 49,686.00 | 50,288.00 | 49,437.00 |
| 4 Saltus | Rogue Traders | 57,423 | 53,431 | 52,291.52 | 53,993.00 | 51,934.00 | 52,571.00 | 50,000.00 |
| 5 B.I. | Profit Bulls | 56,847 | 55,183 | 53,018.10 | 52,278.00 | 50,082.00 | 51,106.00 | 50,855.00 |
| 6 BHS | Investalads | 55,306 | 58,175 | 59,094.80 | 56,262.00 | 51,926.00 | 50,851.52 | 49,750.00 |
| 7 Warwick | BlackJacks Traders | 55,033 | 53,502 | 51,007.49 | 51,437.00 | 49,293.00 | 49,935.00 | 49,749.00 |
| 8 BHS | DATZ Crazy | 54,113 | 53,761 | 50,855.72 | 50,005.00 | 48,908.00 | 50,447.00 | 50,000.00 |
| 9 Berkeley | Money Savers | 52,781 | 52,356 | 53,500.00 | 54,113.00 | 52,006.00 | 49,589.00 | 49,673.00 |
| 10 Somersfield | Cash Hungry Hippos | 52,190 | 50,673 | 49,023.00 | 51,009.00 | 49,336.00 | 49,453.00 | 49,825.00 |
| 11 B.I. | Tradewins | 51,166 | 50,542 | 50,000.35 | 49,569.00 | 49,161.00 | 50,276.00 | 50,000.00 |
| 12 Warwick | Risky Business | 50,872 | 50,125 | 50,093.81 | 50,226.00 | 49,548.00 | 49,914.00 | 49,685.00 |
| 13 BHS | Common Cents | 40,957 | 40,957 | 43,506.82 | 48,873.00 | 47,797.00 | 49,969.00 | 50,000.00 |
| 14 Saltus | Goldfingers | 39,878 | 44,392 | 45,228.37 | 48,858.00 | 48,418.00 | 47,450.00 | 50,977.00 |
| Total | $746,997 | 738,799 | 726,173 | 730,836 | 699,487 | 702,055 | 699,065 |
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