Knight Capital Primed for Another Profitable Year
With the school year just getting underway, many Pace students are trying to start off on the right foot academically. At the same time, a small group of dedicated students are hard at work planning another profitable year for Pace’s investment club, Knight Capital. In the last two years the club has earned a tremendous $13,000 on their initial investment of $30,000 from a very generous Pace parent. The majority of these profits have gone to the Aim High campaign, helping to fulfill the vision for the new Upper School. In addition, the club has established a teacher award, the Knight Capital Investment in Education Award. This award includes a $1,000 grant for the teacher, voted on by the club’s members, to pursue continuing education outside of school.
The club has been able to enjoy such great success due to the commitment of its members, voluntarily meeting at 7 a.m. on selected Friday mornings throughout the year. Junior Kevin Silverstein said, “Mr. Newman brings in doughnuts which makes the early mornings worth it.” Beyond the club’s great monetary success, the club’s faculty sponsor, Mr. Newman, maintains that “the club tries to teach students how to become good investors, which means much more than just making a profit, but also learning how to locate good companies.”
The club will be under new leadership this year with senior Jeff Handler taking the reins from esteemed leader Simon Wu, Class of 2012. He certainly has big shoes to fill but he believes the club will continue to be successful by allowing the members to continue making the vital decisions. Jeff explained, “In Knight Capital, students call the shots; while Mr. Reece and Mr. Handler, the two club advisers, sit in on meetings, all investment decisions, including both stock choices and dollar amounts, are left to the student members.” The club is a great opportunity to learn a lot about the stock market from experienced professionals. With big expectations and a storied history, Knight Capital is primed for another great year.
By Aaron Wasserman, Staff Writer ’14
Photo: Aaron Wasserman