Your chance to hit the trading floor
THIS week we launch our new fantasy stock market game, Taking Stock. At a time when it’s easy to get downhearted about the investment market, Taking Stock offers a chance to ‘play’ the stock market without putting anything at risk - and who knows, you may develop some skills which lead to making a real life million.
Taking Stock is hugely realistic with game players offered a wealth of financial information about the stocks before they make their purchases. When you make a purchase with your £100,000 in virtual cash, you even have to pay stamp duty as well as broking fee. Then sit back and watch as you see your investment either grow or tumble in value as the market sees fit.
Vinay Bedi, divisional director of Brewin Dolphin in Newcastle, said the game offered a great insight into the real-life business of trading shares.
"With this game, to win it, you probably need to take bigger risks than in a normal portfolio, but you still need a proper portfolio," he said.
"You don’t just need judgment for the balance of your portfolio, you need to get the timing right, to ensure you are in the right areas when the market turns upwards.
"It’s great to have an allegiance to a stock too, to share in its success. It makes you follow those businesses more closely. You almost become an amateur research analyst. It pays to have an inquisitive mind - asking questions as to why things work, why companies do well."
Mr Bedi said while it had been a tough time for the world’s stock markets in the last year or two, some commentators believe it won’t be long before the markets start to recover - and that will also be a key sign of when the wider economy will pick up.
He said: "This is an ideal time to be launching a game like this as, at some point, the stock market will have a strong bounce. Some say it could come very shortly though pessimists say not for a while yet.
"In the last two recessions, in the early 80s and early 90s, the stock market fall bottomed out early, and the recession ended 12 months after the stock market had turned.
"There was a lag between the stock market hitting the bottom and the economy starting to recover."
Taking Stock will officially launch on Wednesday, see The Journal for more details on the game.
Share
