With the stock ticker scrolling in the new trading room of the University of North Texas' Business Leadership Building, the Student Investment Group got its first training session on the Bloomberg terminals Friday.
Bloomberg representatives showed students how to create a profile, navigate the system and create a portfolio.
"It was really exciting," said Alex Coronel, a master's student studying finance. "Not a lot of schools have one." DRC/Al Key Bloomberg representative Frandy Napoleon trains members of a University of North Texas student investment group how to use new equipment in the trading room of the Business Leadership Building on Friday in Denton. View larger More photos Photo store
Coronel said this is a privilege for the students because it takes expensive equipment to access the Bloomberg data.
The subscription for the 12 terminals - three of which the university bought and the rest provided by Bloomberg as part of its program for universities - costs $60,000 a year, said Marcia Staff, chairwoman of the department of finance, insurance, real estate and law.
The money for them came from a finance alumnus, she said.
On Thursday, the students spent an hour and a half learning the basics of the system.
"The amount of information is overwhelming," Coronel said.
Frandy Napoleon, a Bloomberg representative, broke the system down to make it easier for the students to understand by equating the interface to that of an iPod.
The terminals use a menu system that allows users to easily get right to where they need to go, said Jared Shrode, a Bloomberg representative.
"The main goal is to get them trained in the system," he said.
Shrode said the interface is a lot different from what people are used to and there are a lot of functions to learn.
Shailendra Agrawal, a master's student in finance and information technology as well as president of the Student Investment Group, said he was impressed with the system's capacity.
The students are excited about the opportunity to have the system at their fingertips because it will minimize the amount of time to perform analyses on companies.
"It's a real opportunity for finance students to get in and do actual analysis," Coronel said.
The Student Investment Group manages an investment fund that was endowed to the group in 2002 by Col. Guy M. Cloud Jr.
The fund currently has about $400,000, Staff said.
"They have beat the market a long time," she said. "We think now that they have Bloomberg, they can do even better."
Before the 12 Bloomberg terminals were installed, students had to go to several websites to research companies and stocks.
"This can be our one-stop shop for the research," Agrawal said. "We could find the information but it was fragmented across the board."
He said it will also help students bolster their resumes.
"We've always wanted to have a trading room," Staff said, adding that when the university decided to have a trading room, it would have to sport Bloomberg terminals.
"We consider this to be the gold standard," she said.
RACHEL MEHLHAFF can be reached at 940-566-6889. Her e-mail address is firstname.lastname@example.org.