REDDING, Conn. -- A student from Redding and two from Darien have earned the National Championship from the Center for Advanced Financial Education.
Redding's David Aldo, a Roger Williams University graduate, had a 36.17 percent return on the investments managed during calendar year 2013, according to a press release. Aldo joined Charles Spivey and Brandon Tripodi of Darien and 18 fellow student fund managers from the CAFE at the University's Mario J. Gabelli School of Business to become national champions twice last month.
Four students representing the CAFE program placed first in the undergraduate core investment strategy category of the student-managed portfolio competition at the Quinnipiac Global Asset Management Education IV Forum held in New York City last month, according to the release. Two students from CAFE grabbed top honors in the same category at RISE 2014, the University of Dayton's 14th annual student portfolio competition.
"The two events represent the pinnacle for the estimated 300 programs nationwide that allow students to make investment decisions with real money," representatives said. "The competitive field is hardly a pushover - the GAME Forum hosted more than 1,000 students from 131 universities in 21 countries; RISE 2014 drew a similar pool of student investment managers from across the globe."
Michael Melton, professor of finance and CAFE director, said the program's real-world setting and "its by-the-bootstraps approach" set it apart from student investment efforts at other schools, according to the release.
"Student fund managers at most of our competitive institutions answer to an advisory board and run their recommendations past a team of professionals," Melton says. "At Roger Williams University, our students do absolutely everything, independently - they make the choices, they make the trades, and all the credit goes to them for these two amazing victories on the national stage."
The group managing CAFE's national championship portfolio included 21 students who graduated in May.