Published in Macalester Today
The Macalester Investment Group might sound like a buttoned-up group, but actually this student organization welcomes anyone interested in learning about investing or careers in finance, investment banking, or consulting.
When the group was founded in 2001, economics professor Karl Egge asked alumni to contribute to a fund the students could use for gaining investment practice. The alumni responded by donating $21,000—which MIG has since grown to almost $40,000. Any member can pitch a stock to MIG, but buying or selling is only done by group consensus. Recently there were 10 to 15 active and another 20 or so registered members.
They also invest imaginary money. Everyone gets $100,000 of fake money to invest in a stock simulation game. Stocks reflect the actual market activity, and the year’s most successful virtual investor wins a chalice.
MIG leaders teach Excel skills, review market news, demonstrate modeling, and prepare an interview question of the day for meetings. Members help each other by conducting mock interviews and reviewing resumes. MIG also collaborates with Macalester Consulting Group and the economics honor society Omicron Delta Epsilon on alumni networking events.