Australian Securities Exchange (ASX) Competition

Congratulations to Lachlan McIntyre of Year 7 who has come first in NSW in the Australian Securities Exchange (ASX) Competition for Semester 2 2020. Lachlan won a prize of $400!!! This competition is entered by tens of thousands of students across Australia. We have never had a student at Fort St win a monetary prize in this competition before.

Lachlan started the competition with $50,000 in pretend money to invest in shares in the ASX200. He invested in Nine Media and Dominos Pizza among other shares on the first day then held. With a few weeks to go in the competition he sold shares in AGL Energy and bought shares in Afterpay. He says he was incredibly lucky on the last day of the competition, as he gained more than $3,000 that day. Lachlan ended the competition with $59,446.52 – an almost 20% gain in his portfolio in just two months. In contrast, the official interest rate (the cash rate) is now 0.1% for the whole year. What an impressive achievement by Lachlan!

Lachlan is quoted in the ASX newsletter