Allegheny College Meets the Bloomberg Trading Challenge

Wealth Management Club members Trevor Day ‘20, Rafael Balanquet ‘20, and John Nagel ‘20 teamed up to enter the 2020 Bloomberg Trading Challenge.  Although the Challenge was cancelled due to the COVID-19 pandemic, the team had a fantastic run, ranking 4th on the leaderboard at the end of week 5.  Michael Michaelides, Assistant Professor of Economics and Faculty Advisor to the club, commented, “this performance is impressive, given that a couple of hundred teams and universities participate in this challenge.”

Student Trevor Day ’20 appreciated this opportunity, sharing these thoughts:

“I took on the Bloomberg Trading Challenge because it was something that interested me, but I’ve really begun to see the value of it as potential employers keep asking me questions about the trading challenge, the strategies I used, and Bloomberg Market Concepts. In the current job market, it is an ace up my sleeve that is distinguishing me as a job candidate.”

The Bloomberg Trading Challenge, How It Works

Students create 3-5 member portfolio teams and develop a strategy based on their own market assumptions. The team uses the Bloomberg Terminal to define the assumptions, develop a return-generating strategy, and execute trades over a closed network. The team has $1 million notional amount to invest across any number of securities. The team that generates the highest return relative to a pre-selected benchmark and presents the best investment methodology at the end of the Challenge is the winning team.

Allegheny College Wealth Management Club

The Wealth Management Club is designed to be a collaborative environment in which students can openly discuss and learn about topics relating to personal finance. The club invites guest speakers, uses simulations, and performs individual research in order to educate members about personal finance topics and learn how to get a head start on managing their own money.

For more information, visit The Bloomberg Lab at Allegheny College.

The Bruce R. Thompson Center for Business & Economics attracts Allegheny’s next generation of business innovators and entrepreneurs by providing a host of co-curricular activities that connect with and deepen their classroom experiences.