June 27, 2013
Money Matters with the Investment Club
Each semester at Wentworth, student teams compete for the chance to turn ideas into reality through Accelerate, the Institute’s innovation and entrepreneurship challenge. And when these teams need financial advice, they can turn to the Wentworth Investment Club.
The club, which was revived last year by juniors Zachary Buzaid (Applied Math), Dante Christofori (Civil Engineering), and Jackson Pierce (Facility Planning and Management), focuses on investing in stocks and teaching its members finance in the process. The group used funding to invest in stocks, which they recently sold to make a large profit.
Although the club’s five members don’t want to reveal their trading secrets, the group has invested money in stocks so future members can continue to grow the club. The group also held office hours for Accelerate team members to discuss their business plans.
“A lot of the teams have great engineers and they make great stuff, but they don’t know much about financing their ideas,” said Buzaid. “And what we do is coach them: what they need to do, how they need to pitch their idea, how is money involved, patents, all that stuff.”
Buzaid says that most teams don’t have experience with pricing a product and often forget to consider costs such as shipping and marketing.
Before beginning coaching, members of the Investment Club went to consulting firm Redstar to learn more about instructing the teams. Now, they are making an information packet of financial advice for future Accelerate teams.
Buzaid says helping the teams has taught him even more about finance – a field in which he hopes to one day work.
“Just learning basic financial stuff can make a great idea even better,” said Buzaid.
- Dennis Nealon