Mitchell Hennessey, also known as Hugh Henne, a self-made 22-year-old millionaire, founder of Hennessey Capital Management and co-host of PGIR, the world’s #1 stock market podcast, has funded a new student investment competition out of the College of Business at the University of Nevada, Reno.
The annual Hugh Henne Investment Competition will create experiential learning opportunities for students to learn about the stock market, trading strategies, career prospects and networking with other investment-minded students.
“It is remarkable to have Mitchell, a recent college graduate with national celebrity, philanthropically invest in this experiential learning opportunity for the next generation of Wolf Pack students,” Greg Mosier, dean of the College of Business, said. “The Hugh Henne Investment Competition will be an incredible resource for our students and an asset in attracting new students to our campus. We are excited that Mitchell believes in our vision and greatly appreciate his investment of time and resources in the College.”
Hennessey’s passion for trading stocks began in high school after being diagnosed with a heart condition that forced him to step away from playing sports. At the age of 21, he decided to challenge himself to turn a $50,000 portfolio into $1,000,000 as fast as possible. He successfully exceeded that goal in just under four months. His success, talent and love for the stock market inspired him to pass on his knowledge through his podcast to aid everyday people in their quest to obtain financial freedom.
“My goal is to help people make smarter decisions with their money,” Hennessey said. “My hope is that the new competition inspires students to take an active approach to investing. Ultimately, time and compounding are on their side. Smart financial decisions in your early 20’s can lead to more financial freedom and flexibility in the future.”
The Hugh Henne Investment Competition will begin on Wednesday, Sept. 8, 2021 with a welcome introduction from Hennessey. This fall semester, Hennessey will also be hosting a live PGIR podcast on-campus in front of an audience of students.
The intense, two-month long competition is intended for the Nevada Student Investment Organization, which is open to all University students regardless of field of study.
“Students who participate in this competition will learn how to research, invest and trade in various financial markets in real-time,” Dongjoon Lee, lecturer of finance, said. “Through the Nevada Student Investment Organization, they will also have opportunities to interact with investment professionals and share their investment ideas.”
During the competition, participating students will perform real-time simulations using the Rotman Portfolio Manager software, equipped with real-time trade execution, customized benchmark portfolios and fundamental performance analysis. Within the program, each student will be allocated the same number of resources, and the winners will be determined by the largest growth to their portfolio during the eight weeks of the competition.
Winners of the competition will be afforded the opportunity to compete in the annual Rotman International Trading Competition the following spring semester in Toronto, Canada. The RITC event brings teams of students and their faculty advisors from universities worldwide to participate in a unique three-day, simulated-market challenge.
“The Rotman International Trading Competition was one of the best learning experiences I have had during my college career,” Brian Smith, University alumnus and past RITC competitor, said. “The competition requires you to put what you have learned into practice against some of the best students throughout the world. Not only does the competition challenge you, but it also allows you to meet people with the same interests as you. The memories I made at the RITC will not be forgotten, and I highly recommend it to anyone passionate about a career in finance!”