Freebee Friday: Boom or Bust
What’s the best way to teach kids about finance, stocks and how the stock market works? Try Wall Street Magnate, a free online simulation of the world of securities trading. Each student starts with $100,000 of simulated money to start an investment portfolio with stocks, bonds and funds. After that they can track the value of individual items and the portfolio’s total value on a day-to-day basis as well as buy and sell items. Because it uses actual data from the markets, Wall Street Magnate is eerily similar to the real world of finance, except that no actual money is used.
An entire class can be set up as a club in Wall Street Magnate so that members can share information, investment strategies and trading tactics. The site provides access to the latest news reports and trading data as well as trade data that is delayed by 15 minutes. There’s a great primer on how to use the program and get started although it lacks suggested lesson plans and a curriculum guide. In addition to tracking a class’s returns, Wall Street Magnate has five levels of return and uses live data, making it seem more real than other simulations. Who knows, the next George Soros or Warren Buffett might be in your class.