Search This Blog

27 Oct 2008

Wall Street Survivor - Virtual Stock Portfolios

A new online game has been brought to my attention, it's called Wall Street Survivor, where novice investors can contemplate their present and future investment plans without gambling with their hard earned savings.

As volatility in the world’s financial markets have even the most hardened Wall Street warriors at a loss, the game lets potential investors test the waters with a simulated, risk-free platform designed to help individuals take control of their financial futures.

Utilizing the web’s sophisticated trading simulation engine, Wall Street Survivor enables users to build and track virtual stock portfolios bought with pre-set fictional (play money) trading budgets, all while executing a full range of trading actions. The Wall Street Survivor features the world’s only simulator where trades and portfolios are executed and updated in real time.

The platform also possess robust web 2.0 social networking capabilities such as Facebook style message “Walls”, buddy lists and a community of traders to learn from and compete against. The competition aspect of the site lets users pit their portfolio against friends, family, peers and fellow students and the streaming leader-board allows budding financial wizards keep one on eye the market and one on the game.

Highlighting its educational benefits, the site’s proprietary technology platform is in use by over 200,000 students worldwide as part of the curriculum at 900 schools including Columbia, the University of Chicago , Yale, London School of Business, McGill University and others. The platform also maintains an evolving database of stock trading tips and articles on investment strategies.

“In this day and age people, now more than ever must take the time to properly prepare themselves prior to taking risks,” states Rory Olson, CEO of Stock-Trak Group.

UK Hedge Fund Managers Recieve AIMA's Latest Capital Adequacy Guidance

Global representative association for the hedge fund industry, the Alternative Investment Management Association (AIMA), has issued updated guidance to its members on how to implement an Internal Capital Adequacy Assessment Process.

"The hedge fund industry has embraced the capital adequacy debate proactively and the sophisticated risk management techniques undertaken by hedge funds make this framework possible," Andrew Baker, AIMA’s Deputy Chief Executive, said, "Hedge fund managers employ progressive business management techniques and we are fortunate to be able to draw on the expertise of leading advisers from the industry to guide our membership on how to most effectively implement this process."

AIMA’s ICAAP Guidance Note – originally published in July 2007 - has been revised to address issues that have been identified now that firms and the FSA have gained more practical experience of the ICAAP; and to include examples of the processes that have been implemented by firms to date.

The Guidance Note was produced by an AIMA-led ICAAP Working Group, consisting of industry experts from compliance advisory, auditing and law firms. Members of the group include: John Griffiths of MMS Regulatory Solutions; Stephen Burke of IMS Consulting Ltd; Uner Nabi of Deloitte and Touche LLP; Philip Niel of FIM Advisers LLP; Sarah Nowell of Ernst & Young LLP; Fiona Raistrick of BDO Stoy Hayward LLP; and Matthew Jones of the AIMA Regulatory and Tax Department.

Verizon Expands Despite Economic Conflict

Verizon Communications Inc. reported strong results in the third quarter 2008, reporting 59 cents in diluted earnings per share (EPS) in the third quarter 2008, compared with 44 cents per share in the third quarter 2007.

"Verizon again reported solid revenue, earnings and cash flow growth this quarter," said Chairman and CEO Ivan Seidenberg. "The strategic investments we made over the past few years continue to drive growth in wireless, enterprise, broadband and video.

"Although the capital markets and economy may present challenges, we will continue to execute on our business plan and invest for future growth," he said. "We increased the dividend 7 percent this quarter, reflecting confidence in continued growth opportunities. Verizon has a great set of assets and an employee team focused on creating value for our customers and shareholders."

Verizon had total revenues of $5.4 billion, or growth of 1.2 percent compared with last year's third quarter. This was Verizon Business' eighth consecutive quarter of year-over-year pro-forma revenue growth.

Verizon Business continued to expand its global network reach and capabilities, announcing during the quarter that the first phase of the Trans-Pacific Express submarine cable system directly connecting Mainland China, the U.S., South Korea and Taiwan is ready for service. The company also began a significant expansion of its operations in India, activating Private IP nodes in five major business centers following receipt of international and national long-distance licenses earlier this year.

New commercial customer agreements included CA Inc., First Data, H&R Block, Husqvarna and Kuwait Petroleum International Ltd. Verizon Business also signed new contracts with several U.S. government agencies.