Bloomberg Trading Challenge: HBCU Students Compete in Real-world Investing

Last Updated on April 3, 2024

Jaeden Patterson and Dr. Daniels-Hollar celebrating the Bloomberg Trading Challenge win at Bloomberg headquarters.

Pictured is Jaeden Patterson, a Senior at FAMU, this year’s winner of the Bloomberg and Historically Black Colleges and Universities (HBCUs) Trading Challenge, alongside FAMU faculty advisor Dr. Daniels-Hollar. 

In the world of finance, where do desire and chance meet? Jaeden Patterson, a student at Florida A&M University (FAMU), saw this convergence in the 2023 HBCU Bloomberg Trading Challenge, where his smarts as a trader helped him win big.

The Challenge: A Stepping Stone to Financial Mastery

This Trading Challenge is no ordinary competition. It's an arena where HBCU students manage $1 million in virtual US dollars, simulating real-world financial decision-making. This challenge is not just about winning; it's about learning, growing, and preparing for a future in finance.

Jaeden Patterson: A Visionary in Finance

Jaeden's triumph was a testament to his strategic foresight and resource utilization. His advice to future participants is invaluable: “Take advantage of your resources. The mentor provided through the challenge helped me navigate unfamiliar functionality on the Bloomberg Terminal. The Bloomberg ESG Certificate Course was instrumental in developing a profitable investment strategy.” How often do we overlook the resources at our disposal?

Participating Universities: Nurturing Financial Talent

In addition to FAMU, institutions including Clark Atlanta University, Howard University, Hampton University, Morehouse College, Morgan State University and Spelman College competed in this challenge. Their participation underscores the growing emphasis on practical financial education in HBCUs. Dr. Inger M. Daniels-Hollar, Assistant Professor of Finance at FAMU, captures this sentiment perfectly: “Bloomberg access enables us to simulate for our students the experience of sitting on a real-life desk. It’s like a law student arguing in a mock courtroom before becoming a lawyer.”

Impact Beyond the Trading Floor

The Challenge bridges the gap between academic theories and real-world financial market demands. It's an opportunity for students to apply classroom knowledge in a simulated yet highly realistic financial environment.

Bloomberg’s Role in Shaping Future Financiers

Bloomberg's commitment to HBCU colleges is manifested in its provision of resources like the Bloomberg Terminal. This tool enriches coursework and prepares students for the dynamic nature of financial markets.

Jaeden's Legacy and Future Prospects

Jaeden Patterson's story is a beacon for aspiring finance professionals. It highlights the importance of resourcefulness and continuous learning. As future challenges unfold, his journey will undoubtedly inspire many more HBCU students to aim high in the world of finance.

In conclusion, Jaeden Patterson's victory in the 2023 Bloomberg Trading Challenge is a narrative of inspiration for HBCU students. It underscores that with determination, the right tools, and the unwavering pursuit of knowledge, the financial world is full of endless possibilities. As we look ahead, the question remains: Who will be the next Jaeden Patterson to rise from the ranks of HBCU students?

Source: Bloomberg, Bloomberg for Education

FAQs for the Bloomberg Trading Challenge

What is the Bloomberg Trading Challenge, and how does it benefit HBCU students?an HBCU?

There is a virtual investment game called the Bloomberg Trading Challenge for students at Historically Black Colleges and Universities (HBCUs). Using the Bloomberg Terminal, students can trade like they would in the real world. They can handle virtual funds and choose investments. The challenge gives HBCU students real-world experience in the financial markets, which improves their skills and gets them ready for jobs in finance.

Who was the winner of the 2023 Bloomberg Trading Challenge and what was their strategy?

The 2023 Bloomberg Trading Challenge was won by Florida A&M University student Jaeden Patterson. Bloomberg gave him tools, like mentorship and the Bloomberg ESG Certificate Course, that he used to create and implement successful ESG investment strategies in his portfolio. This was his winning strategy.

Can students from all HBCUs participate in the Bloomberg Trading Challenge?

There are usually only a few HBCUs that can take part in the Bloomberg Trading Challenge each year. Students who want to join should check with their university's business or finance department to see if they are involved and find out how to get on the team for their university.

What advice did Jaeden Patterson give to future participants of the Bloomberg Trading Challenge?

Jaeden Patterson told people who want to take part in the challenge in the future to make the most of all the tools it offers, such as mentors and educational courses like the Bloomberg ESG Certificate Course. It was very important for him that people used these tools to learn more about the Bloomberg Terminal and come up with good business plans.

How does the Bloomberg Trading Challenge prepare students for careers in finance?

The Bloomberg Trading Challenge helps students get ready for jobs in finance by letting them use real-life financial tools and situations. It teaches students important skills in areas like investing, risk management, and data analysis that are in high demand in the finance business. The challenge also gives you the chance to meet financial workers and recruiters and make connections.

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