Wharton Global High School Investment Competition
The Wharton Global Youth Investment Competition is an annual contest where high school students work in teams to develop investment strategies for a simulated client. The competition promotes critical financial literacy skills and culminates in regional and global finals, where top teams present their strategies to Wharton judges.
Interested in the competition?
Competition Overview
High school students 14-18 years old
Eligibility
Free
Entry fee
September 13, 2024
Registration deadline
September 30 - December 6, 2024
WInS Trading Timeline
April 25 - 27, 2025
Global Finale
Competition Details
1. Eligibility
Eligibility for the Wharton Investment Competition requires that teams consist of current high school students (ages 14-18) from the same school branch. Home-schooled students may also compete if they request approval and can provide proof of homeschooling if they reach the semifinals. Participants must not have earned a high school diploma before the competition starts, and children of UPenn faculty are eligible as long as their parent isn’t a competition judge.
2. Competition Introduction
In the Wharton Investment Competition, teams analyze a case study about a real client’s investment goals, using a stock list, ETFs, U.S. Treasury Bonds, and the Wharton Investment Simulator (WInS) to build a $100,000 virtual portfolio. Over 10 weeks, students develop and justify a strategy, submitting two deliverables. Success depends on the quality of their strategies rather than portfolio growth. Judges select 50 semifinalists to present at a virtual event, with the top 10 advancing to the Global Finale at Wharton. The Wharton Investment Competition saw impressive participation last year, with 1,655 teams from 62 countries, including 9,010 students and 1,148 advisors.
3. Competition Dates
- Monday, June 17: Registration opens
- Friday, September 13: Registration closes; student team accounts must be set up by the Advisor (5:00 p.m. ET)
- Monday, September 30: First day of trading
- Friday, October 18: All teams must fully execute one trade on WInS by the close of the U.S. markets (4:00 p.m. ET) in order to be eligible to advance to the Semifinals or Global Finale.
- Friday, October 25: Official team rosters must be submitted via Reviewr (5:00 p.m. ET); no changes are permitted after this date.
- Friday, November 8 Requirement: Midterm report must be submitted via Reviewr (5:00 p.m. ET)
- Friday, December 6: Last day of trading; close of the U.S. markets (4:00 p.m. ET)
- Friday, December 13: Final report and school documentation must be submitted via Reviewr (5:00 p.m. ET)
- January 2025: Semifinalists (top 50 teams) announced
- March 2025: Virtual Semifinals
- April 25 & 26, 2025: Learning Day & Global Finale at the Wharton School, University of Pennsylvania, Philadelphia
4. Prizes
- Participation Badges and Certificates: All students on teams meeting the competition deliverables will receive participation badges in February 2024. Semifinalists and global finalists will receive special certificates to recognize their achievements.
- Prizes for Global Champion Team: Each student from the winning team will be awarded a spot in one of Wharton’s online summer programs: Future of the Business World, Essentials of Leadership, Moneyball Academy: Training Camp FLEX, or Moneyball Academy: Training Camp.
- Prizes for Global Finalist Teams: Each student from the 10 global finalist teams will have the course fee waived for Wharton’s online course, Understanding Your Money.
- Global Champion School Privilege: The school of the global champion team will be allowed to fast-track one team to the Semifinals of the 2025-2026 competition, provided they meet all deliverable requirements.
- Prize Conditions: All prizes are non-redeemable for cash and are subject to course/program requirements. Wharton Global Youth Program may substitute prizes of equal or greater value at its discretion.
Rules
1. Team Members and Advisor
From the start of the competition, each team must have at least 4 to 7 members. Students are not allowed to participate on more than one team.
Teams are also required to have one advisor, who must be a teacher/educator at the high school of their team.
2. Trading Rules
In the Wharton Investment Competition, all trading must occur on the Wharton Investment Simulator (WInS). Key rules include:
- Trading Period: Trading begins at 9:30 AM (ET) on September 30. Teams may access WInS beforehand but cannot place trades until then.
- Approved and Non-Approved Stocks: Teams primarily trade approved stocks and ETFs. However, up to 30% of the stock allocation can be in non-approved stocks. For instance, if a portfolio has $10,000 in stocks, at least $7,000 must come from the approved list, while up to $3,000 may include other stocks. Penny stocks and over-the-counter (OTC) stocks are not allowed.
- Diversification and Sector Requirement: Teams must build a sector-diversified portfolio, holding at least one stock per sector, with each sector matching the number of team members (e.g., a five-member team must invest in five different sectors). Teams must maintain sector diversification throughout the competition.
- ETFs and U.S. Treasury Bonds: Teams must hold at least one ETF from the approved list in their portfolios, while U.S. Treasury Bonds are optional and must also come from an approved list. No other investments are allowed.
- Trading Notes: Every trade requires a trading note detailing its strategic purpose within the portfolio. This information is required for the final report.
- Advancement Criteria: To advance, teams must complete one trade by October 18, 2024, and submit a sector-diversified portfolio by November 8, 2024. Portfolios or reports with unapproved assets or use of stock-secured debt are disqualified.
