ASX today joined over 60 other exchanges globally in ringing the bell for financial literacy in support of World Investor Week. This annual event, led by the International Organization of Securities Commissions (IOSCO), aims to promote investor education and protection by empowering investors with the tools and knowledge they need to make informed financial decisions.
NSW Treasurer, the Hon Daniel Mookhey MLC joined ASX Managing Director and CEO Helen Lofthouse and schools from across NSW to ring the bell for financial literacy at ASX headquarters in Sydney.
NSW Treasurer, the Hon Daniel Mookhey said: “I’m very pleased to be highlighting the importance of financial literacy at the ASX’s ring the bell for financial literacy event.
“Financial literacy is essential in empowering people to make informed decisions about their money, investments and futures. By promoting education and awareness, we can help more people navigate the complexities of the financial world with confidence.
“The NSW Government is committed to supporting initiatives that enhance financial literacy. We believe that everyone, regardless of their background, should have access to the knowledge and tools needed to make sound financial decisions that will benefit them and their families in the long term. I commend ASX for their focus on investor education and congratulate all the winners of the ASX sharemarket game.”
ASX Managing Director and CEO, Helen Lofthouse, said: “World Investor Week unites securities regulators and exchanges, and other financial institutions globally to raise awareness on the importance of financial literacy and informed investing.
“The ASX plays an important role in promoting these objectives, and this event aligns with our intent to enhance financial literacy and empower investors to make sound investment decisions for their future.”
The ASX has run its flagship sharemarket game for more than 45 years and we remain committed to this program which promotes investor education in a practical and fun way. Participants are given a hypothetical $50,000 to invest and, based on the returns made, the winners for the 2024 game are:
- 1st – John Redgrave
- 2nd – Paul Gabrielides
- 3rd – Stuart Vaughan
All three winners shared similar characteristics in terms of patience and temperament; they were able to ride out the volatility, including choosing the right time to sell.
In taking out first place with a portfolio value of slightly more than $67,000, John’s advice for other players is to lose your fear of selling. His ‘winning move’ was to sell and repurchase after a major geopolitical event: “I was surprised the stock markets didn’t fall straight away so I decided to sell all stocks at a good price. The falls in the next week were extensive and I then rebought after the falling finished.”
Ignoring the noise and doing your homework was the key takeaway for all three.
“I would like to congratulate this year’s sharemarket game winners and thank everyone that took part,” Ms Lofthouse said. “Financial literacy is the foundation of good investing and ASX is committed to providing investors with the knowledge and tools they need to build confidence in their investment decisions and to navigate both opportunities and risks in the marketplace.”
Further information on World Investor Week 2024 is available on IOSCO’s website.
Information about the ASX sharemarket game and investor education resources is available on ASX’s website.
