Nets Program Combines Ball Games and Stock Market Games


Nets center Jason Collins with Robert Ross, second from left, and students in the investment challenge.

More than 80 students who are participating in the 2006 New Jersey Nets/ Merrill Lynch Investment Challenge got a chance recently to meet a professional basketball celebrity, Jason Collins, and to join an exclusive tour of the Nets training facility.

“Basketball translates to the investing game by fostering teamwork, managing egos and working for a common goal,” the Nets center told the students, who attend five public schools in Newark. Just like them, he added, he is improving his knowledge of personal finance: “I am also learning as I go along, and it's a challenge to learn about the stock market.”

The students had the chance to ask Merrill Lynch employees questions about the Stock Market Game Program, the classroom tool the students will use this spring to improve their language arts, mathematics, business, social studies and computer technology skills.

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While in the program, student teams are gaining real-world investing experience and an appreciation for the value of saving, as they invest a simulated $100,000 portfolio and learn from a classroom curriculum.

“If I was a student, I would take part in this program, because there is just a wealth of knowledge to be gained,” said VP Patricia Barksdale, a financial advisor in Newark who has been involved with the program for two years. “They may not see it now, but in the long run, I think they will appreciate it.”

In the short run, the students certainly enjoy courtside seats at several Nets games, and one student from each school will be offered a paid summer internship at the Global Private Client office in Newark for some hands-on Wall Street experience.

Robert Ross, director of the Newark office, told students the program will give them an opportunity to “learn how you can go from a regular person to a wealthy investor. You get to have fun while looking at life differently. The interesting thing about the Stock Market Game is you don't have to come to Wall Street. You can find a career through this business, through companies you invest in, if you take what you're doing seriously.”

Kathy Floyd, executive director of the Foundation for Investor Education, the organization that administers the Stock Market Game nationwide, gave the students advice on investing. “It is something that's going to take you for the rest of your life. Invest. Invest early. Invest often at least $50 a month.” She said the 401(k) retirement plan is the best way for the students to increase their wealth.

Keith Webb, director, Merrill Lynch Diversity Recruiting, spoke about the recruiting efforts at Merrill Lynch. “It's important to think about what you would like to do with your life from now,” he told the students. “It's not too early to develop your thoughts on how you can begin to contribute to fulfilling it.”

A Newark high school student who interned at Merrill Lynch last year hopes to gain a spot again this summer.

“I thought the program was wonderful. It opens doors so you can become more successful,” said Stephanie Arvelo, 16, of East Side High School. “It's an opportunity not many young people are given.” She said she plans to become a stockbroker