The Wake

As this was being written, the Dow Jones dropped 679 points and plunged below 9,000, making this
the sixth straight day of triple digit loses. At this time last year, it was at an all-time high at 14,164.53, a decline of 39%. What does this mean for Joe Six-Pack? You could ask Sarah Palin and hear a folksy story about how Alaskans just want to drill baby, drill.

Or, you could join the Stock Traders Club here at the U. Formed in 2006, the organization brings resources to students so they can learn how to yell “buy” or “sell” very loudly and throw pieces of paper around. They do this by bringing in industry professionals to discuss stock-related topics.

“We’re creating an environment so people can learn how to start trading,” club president Ross Leder
says. “In addition, we really get connected with some things we might not have access to.”

Leder has been involved with investing since July 2006, when the market was peaking, he says. After
a few missteps, he says he learned a lot that he applies to this current market fiasco, but he admits he is no expert.

“I’m not trying to teach people,” Leder says, “This isn’t me lecturing people. I’m still learning about this stuff. I’m president because I want to see this club succeed.”

The Stock Traders Club averages about 30 to 35 people at their meetings, which are held Thursdays at Hanson Hall, Leder says. Even though the club is registered as a Carlson organization, any Joe Six-Pack can attend and look more confused than the fair governor of Alaska (but not as hot).

“We really do work to be a university club,” Leder says. “It’s valuable for everyone to know a little about the stock market, because it really does affect everyone. We’re finding that out right now.”

At their last meeting, however, there were many brahs in Hollister and other name brand digs, while others were dressed for success. Besides the one female there, one other person definitely drew some attention. With hair well past shoulder length, even longer sideburns and wearing a t-shirt and jeans, freshman Nathan Vik stood out in the sea of the future upper tax bracket.

“Stock trading and investment is just interesting to me,” the hippie look-a-like says. “I’ve learned a bit, and I’m sure I’ll learn quite a bit more.”

Why was this Jesus-esque looking person at a stock club? He is a chemical engineering major, which
means he will be bathing in money eventually. To begin investing that money, however, one must learn the jargon of investments, so sitting through the first few meetings may be like watching Telemundo while stoned: lots of words that make no sense, but sound hilarious.

It is not all stocks and asset allocations with the STC. They do have social meetings where they go out to Burrito Loco, for example, on the group’s tab, and discuss things like finances. Plus, they have free food most weeks, so why not give stocks a chance?