Update December 7th: The only error in this article is that in reality, even though it was homecoming weekend, many Colgate students attended my seminar. I was amazed at the interest they had in the stock market even during homecoming. By the way, Colgate beat Cornell in overtime. (Note: Photos below)
Right now many people are negative about the stock market, and believe that you should avoid the market completely. I believe, however, that it’s a good time to learn more about the market, and studying costs nothing. If the only money you have in the world is $3,000, by all means pay off debt or keep it in a savings account. But if you do have extra money that you can “afford” to lose, then you can use it to invest in the stock or options market.
When I went to Colgate University in Hamilton, New York to teach a seminar on “Understanding Stocks,” “Understanding Options,” and ways to avoid investment mistakes, I spoke with Josh Lasker, chairman of the Stock Trading Club and an executive member of the Colgate Finance Club, and William Civitillo, president of the Finance Club.
The finance club, with over eighty members, was created to “take Colgate students and educate them about the world of finance and the careers they might be interested in,” says Civitillo. “We want to help them to make the most money in the future, and find happiness.”
William Civitillo says they try to make the club fun, and often bring in people to give insights about the financial world.
Josh Lasker first got interested in the market when he was fifteen years old. “I saw the market was volatile in 2008, and I saw the markets tank,” he says. “My father’s partner said that you don’t have much to lose when a stock is already down 90% and you are only throwing in 140 bucks. That’s when I bought 1,000 shares of Sirius at $.14 a share and sold at $.54. Then it went over a dollar.”
What did he learn? “I learned that anything can happen in the stock market,” Lasker says. “Even a big company can go bankrupt.”
Below are photos of the beautiful Colgate campus and of me teaching: