Eventually, as we grow up, we will all have to manage our money and wealth. But how exactly can we manage it effectively? How can we make sure we’re investing in the right places, and spending money on what truly matters? These are the difficult questions that Target Alpha members answer.
Each meeting, executives from Target Alpha discuss about topics such as investments, finance and current issues. Contrary to some clubs in the school that train their members only for competitions, Target Alpha takes a more long-term approach for its meetings. According to Tom Tang, co-president of Target Alpha at MGCI, the club emphasizes developing financial literacy. “It’s not a ‘we have to do very well at each competition.’ It’s more about gaining the knowledge to be successful in the [finance and business] field.”
Throughout the year, Target Alpha competes in numerous competitions. Members of Target Alpha are currently competing in the Nipissing Stock Exchange Simulation, an online competition where competitors start off with $500,000 of virtual money and try to retrieve the highest return. Participating in the competition also gives competitors an opportunity to practice financial concepts including stocks, options, and futures. Members will also be competing in the Investopedia National Stock Trading Competition later in the school year. This team based competition will be the primary focus competition-wise for Target Alpha, and is hosted by Target Alpha’s Ontario Provincial Board. Target Alpha is also planning some in-school competitions later in the year.
The Target Alpha chapter at MGCI was founded this year by Raluca Gondor and Tom Tang. They started the club because they believe financial literacy is an important skill that isn’t discussed enough at Garneau. Through the lectures and discussions, they hope members will gain the skills they need to be successful in the future. Club member Jeremy Phy said, “Even though the club just started, I definitely feel I have a stronger grasp of finance topics, which has helped me achieve some positive results in the recent Nipissing competition.”
There is no interview or admission process necessary to become part of the Target Alpha. They meet every Monday at lunch in Room 242, and are always looking for new members.