By CARRIE REINFURT
Many students would like to get involved in the stock market but are hesitant to throw away life savings. A new club at BYU has stock market answers — or at least some good ideas.
BYU Investment Club Co-president Greg Peterson, 24, a senior from Omaha, Neb., majoring in global economy, said many companies make money off certain myths that students have concerning investing.
“Y2K does not concern personal (investing). While the students hoard their money in bank accounts making only 3 percent, the banks are investing for 14 percent returns,” Peterson said.
Peterson said this club is the first one of its kind on the BYU campus. He feels it should become an integral part of each student’s life.
“We have all levels of investors. The purpose of our club is to give an open forum where students can find a marketplace of ideas for new investments,” Peterson said.
Rachel Bouer, 18, a freshman from Twin Falls, Idaho, majoring in Humanities, said investing is getting her through school.
“I have paid for tuition, housing and bought a personal computer — all from my gains from my stocks,” Bouer said.
Bouer explained she had invested before joining the club, but since her enrollment in the club she has changed a few of her investments. She is also enjoying the club’s on-line game.
BYU Investment Club has made investing less of a risk for students with a new on-line game at www.smartstocks.com. This game is a funny money account that allows students to invest 1 million dollars in the stock market. The club member at the end of each month with the highest percentage gain wins $100.
Norm Nemrow, a professor in the school of accountancy, has donated $250 dollars for the on-line investment game started by the investment club.
“The stock market is hot — most of America is investing. This game is perfect for students to become familiar with the stock market without all the risk,” Nemrow said.
Other student members have started investing for the first time with the helpful insights of the club.
“I have just started investing these last few weeks from club information and I have made several hundred dollars,” said Christopher Jackson, 22, a junior from Louisville, Ky., majoring in International Studies Global Economy.
Vice President of Operations John Blatter said it is important for students to come to the meetings Friday at 4 p.m. in 280 TNRB.
“It is place where questions are answered, students learn from other students and learn how to invest,” said Blatter, 23, a senior from Danville, Calif., majoring in American Studies.
Parker Jones, account representative from Morgan Stanley Dean Whittier will speak at this week’s meeting.