An MBA graduate from Lindenwood University was recognized June 6 at UMB Bank in St. Louis for winning the second annual Intercollegiate Investment Contest; the university received a $10,000 prize for winning the contest, which spanned 28 months, starting in 2005.
Each participating school was “given” a hypothetical $1 million, with which they were instructed to put together an investment portfolio. Ed Morris, dean of the university’s Division of Management, used the contest as a project for his Investments II class in the fall of 2005, and the class chose the student portfolio of Brad Nowak for the school’s entry.
During the contest period, Nowak’s entry grew by 46 percent to $1,468,129. During the same period, the Standard and Poor’s Index 500 grew by 5 percent. Nowak, who has since graduated from Lindenwood, is employed by the Boeing Company and lives in Washington, D.C. The school was notified of the contest win in March.
The other schools in the 2005 contest were Greenville Christian College, Harris-Stowe State University, McKendree University, St. Louis University, University of Missouri–Columbia, University of Missouri–St. Louis, and Principia College. Principia College organized the contest, but UMB Bank has administered the contest so Principia can also participate. Lindenwood did not take part in the contest the first year but has entered the 2006 and 2007 contests.
"I think this is a wonderful testament to the abilities of our students and to Brad Nowak in particular," Morris said. "I can't express how proud I am."
Morris said the $10,000 prize will be used to name a classroom in Nowak's honor in Lindenwood's Harmon Hall, which will house the university's School of Business and Entrepreneurship following renovations that are scheduled to start in 2008.