Isaac Garonzik, a Pikesville High School sophomore, was recently named winner of the Maryland Investwrite Essay Competition presented by the Maryland Council on Economic Education to challenge students to reflect on long-term investing and personal finances.
The competition follows students’ participation in the Stock Market Game, a simulated classroom experience in which students in fourth through 12th grades create and manage a hypothetical $100,000 portfolio of stocks, bonds and mutual funds over a 10-week period. Participants consider what they have learned about wealth creation through investing while exploring how world and local events impact markets.
Essays illustrate the impact the game has made on students, where they learn through experimenting with actual investing, reinforcing key principles while competing and having fun.
Isaac — who with McDonogh School student Grace Miller is a co-founder of Keeping Baltimore Warm, which spreads awareness about homelessness and provides new and gently used blankets to homeless people in the Baltimore area — competed against students throughout the state to write the best essay in the high school division. He impressed a panel of thousands of expert judges from across the financial services industry with his essay.
“Some people compare the uncertainty in investing to chances you take when gambling,” Isaac wrote. “Investing and gambling both involve the expenditure of money in hopes of achieving a financial gain. So, what differentiates the two?? Knowledge. … If you think that investing in uncertain, then trying to do so without researching is even more difficult. That research starts with you — knowing your own capabilities, apprehensions, and goals will make you wiser and put you in the right direction. Knowing what types of investments are available — and the risks associated with each — makes you a better investor.
“Knowing there are experts and professionals who can give you suggestions and guidance can help open your mind to new ideas,” he wrote. “The best bet is the one you take when you confidently place the chips all in on yourself and you’ve taken stock on all the possibilities that come from being an informed investor.”
Isaac and his social studies teacher, Ethan Goodman, were honored at a Mar. 23 presentation by the Maryland Council on Economic Education and the SIFMA Foundation, an educational nonprofit based in New York.
Offered by the Maryland Council on Economic Education and SIFMA, Investwrite bridges classroom learning in math, social studies and language arts with the practical research and knowledge required for saving, investing and long-term planning. First Financial Federal Credit Union sponsors the Stock Market Game, and InvestWrite programs for students in Baltimore County Public Schools.
“Isaac’s essay, and his exciting accomplishment, illustrate the importance and impact of personal finance education,” said Julie Weaver, executive director of the Maryland Council on Economic Education. “When students understand concepts in saving and investing, they are preparing themselves for lifelong financial health and success.”
For information, visit econed.org/Invest-Write.
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