MSU
For MBA student Scott Gordon, taking risks paid off to the tune of $867,000 — if only it were real.
Gordon was the winner of the first MBA Stock Market Challenge, which ended April 27, after three months of trading.
Competitors were given $100,000 in virtual money and 12 weeks on the stock market through the website investopedia.com.
Gordon said he did it because there was no risk.
“You always want to see what you could do if you had money,” he said.
Gordon said his strategy was a bit more risky than everybody else’s because he used option trading, where you have the right to buy the stock at a predetermined price at a later time, even if the price goes up.
He targeted big companies like Apple and Qualcomm and invested with them if he knew they were going to have a financially productive day.
With option trading, Gordon said you either win or lose, and he didn’t always win.
“At some point, I was down $70,000,” he said.