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Haney repeats as stock champ
Junior Kevin Haney recently won Quinnipiac University’s annual stock competition for the second consecutive year. Haney broke his previous all-time school record with a return rate of 201%.
“It’s a great honor to be recognized for this achievement,” Haney said. “I hope more students will take advantage of the extracurricular activities that the school of business has to offer.”
Last year Haney secured a return rate of 69%, which broke the previous all-time school record. The stock competition is run by the Finance and Economics Club. For the competition, competitors are given $500,000 to invest in any tradable entity over a six-month period.
Haney’s return this year ranked him ahead of the S & P 500, the NASDAQ and the Dow Jones Industrial Average, all of which have three-year losing streaks.
“People need to know that there is much more to investing than just buying a stock and sitting on it,” Haney said. “Shorting a stock, or betting the stock will go down is just another way of diversifying ones portfolio and one of my main tools in the competition.”
This year Haney utilized “Operation Iraqi Freedom,” to his advantage, benefiting from the sudden swings in the gold, oil, and natural gas markets.
“There is huge money to be made from the commodities market if you are able to time it right,” Haney said.
Haney was also selected to attend the Redefining Investment Strategy Education Conference in Ohio this past March, and is currently enrolled in the M.B.A program here at Quinnipiac. He currently is one of fifteen members of Finance 450 which manages $100,000 of Quinnipiac’s endowment fund.
Open completion of his M.B.A. Haney would like to start his own Hedge Fund in the Boston area.
“I really could not be here without the help of my parents and my brother, they always pushed me to that next level,” said Haney. “I would also like to thank Professor O’Connor and all the help he has given me. There are really some truly amazing teachers at Quinnipiac who go unrecognized and he is definitely one of them.”