By Natalie Alcoba
Ryerson’s newest campus group could put debt-ridden students on the road to wealth.
The Ryerson Stock Exchange (RSE), which held its inaugural meeting Monday, will provide a forum for young investors to meet and discuss ideas while learning basic investing strategies.
“Ryerson needs a forum for students to discuss their ideas and get educated about the stock market,” said RSE’s founder, Rachel Kagan, a fourth-year business accounting student.
However, before the RSE becomes a fully operated club, its constitution, a requirement for all RyeSAC-sanctioned student groups, is being amended to clear up some liability issues.
“I’m not a professional,” Kagan said. “If a member loses money because of bad investment recommendations from the meeting, they cannot sue me, Ryerson or RyeSAC.”
Kagan became interested in the stock market during the summer of 1999 when she was looking for a way to make money. That’s when she discovered there wasn’t a student group catering to up-and-coming investors.
A chat with friends planted an idea in her head to launch one of the university’s newest student groups.
Kagan said the focus of the group’s meetings has yet to be determined.
“I don’t want to be before 20 students lecturing about the stock market,” she said.
Although Kagen is not a professional investor, she feels she has a little bit to offer to those who are just starting out.
She hopes the weekly meetings will become a public forum where students can discuss current market events and find answers to their investment questions.
Armando Guerez, a first-year business student, said he joined the RSE because he’s always been intrigued by the market.
“I would like this opportunity to learn about how the stock market works,” he said.
Kagan says running a student group is uncharted territory for her. She hopes to develop a structure for the group by the end of the school year so it can continue after she graduates.
RSE’s next meeting is Monday, November 13 at 6 p.m. in Oakham House.