NJCU SIM Group: Right on the Money
By: Marinell Montales
Issue date: 2/22/07 Section: News
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If you think greed is more of a virtue than a vice, then you share a cup of tea with the NJCU Student Investment Management Group. It is not so much greed as enterprise that is the driving force behind the three of the group's founding members. Jason Nadolny, 34, a graduate student in Finance and the president of the SIM Group, Chris Smiga, 21, the group's chief economist and an Economics undergrad, Kamil Ponichowski, 22, a Finance undergrad and the head of new investments, are no fools when it comes to money.
The group's main goal is to protect the purchasing power of the principal and produce a return for the NJCU Foundation. With the vision of becoming "the benchmark for the application of the study of finance in an urban educational setting," these young men, as well as the other members of the SIM Group, will inform you of everything you need to know about money-from adding it up, subtracting it down, dividing it, and most importantly, multiplying it.
GT: How was the SIMG founded?
JN: It was founded on October 2006. Former alumni donated $100,000 to the NJCU Business Foundation and to the Business Department, specifically to develop a student investment group. This is the first time in the history of NJCU that a Student Investment Management Group has been formed.
GT: Will SMIG run as a regular organization, like the Business Society, for example?
JN: We are totally different from the Business Society or any other clubs or organizations. We focus on real world experience. Since we deal with monetary issues, the business is much more serious. We are responsible for the money and for representing NJCU as an urban institution.
GT: Why would NJCU students want to join the SIMG?
CS: Our focus is to educate students on managing their finances. Not many people know how to invest in stocks or bonds because they don't really think it's important. Most college students don't even know how to manage their own credit cards, so students should want to really try to get into this at an early age because it is something that's really important, especially with regards to Social Security, low returns, and taxes. We are going to help students secure their futures. Many average people don't have retirement accounts at their own jobs. A lot of people do not even know that they can open an IRA. With an IRA, you have all these tax advantages. You could put your money in very safe investments, like government bonds, that can give you a higher return on your money, rather than keeping it in a bank account.
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