Parry Chen Invests His Way To The Top
FeaturesProfile Features September 20, 2013 Admin
Photo Courtesy Of PARRY CHEN
BY SABRINA VICTOR
From short sales to assets, the ever-changing stock market world is often hard to predict. However, for senior Parry Chen, it is practically second nature. Climbing his way to the top of the DECA program, Chen now holds first place in its stock market game.
The Stock Market Game (SMG) is an online investment education simulation with the sole purpose of providing the public with a better understanding of the securities industry, the stock market, and their roles in the American economic system. For Chen, his first encounter with the stock market began in 8th grade when his U.S. History teacher, Marsha Norman, assigned the Florida Council on Economic Education stock market game.
“At first I had no idea why I was doing it,” Chen said. “Everyone has a beginning, and I actually picked a stock you weren’t allowed to invest in and Mrs. Norman started laughing at me.”
Over time, his portfolio and interest in business/finance grew as he continued to understand the guidelines of the Stock Market Game. The rules are simple. Everyone starts off with $100,000, and is allowed to invest in anything they want. Whoever makes the most money wins, and that is exactly what Chen set out to do.
“As I learned the strings of the game and I made more money, I began to think it was actual money I could be making,” Chen said.
Chen started to feel a real world connection and didn’t let his 8th grade failure of investing in the wrong stock set him back. In 9th grade, he found himself as the champion out of 6,000 teams of the FCEE Stock Market Game. For someone at age 15, this was a remarkable accomplishment, especially considering that most adults are clueless about the market and economics.
That same year, Chen made a decision that determined his future for the next few years. Chen decided to take Principles of Entrepreneurship with former DECA Advisor, Brian Chalk, and grew very interested in DECA when he discovered that it had its own stock market game.
Knowledge of the game and luck proved a big help to Chen when he competed in the DECA Stock Market Game junior year. He was able to develop a strategy that incorporated fundamental and technical analysis. This not only enabled him to do very well, but also to help his best friend, senior Jared Cohen, win 2nd place in the game too.
“Parry basically taught me how to play the stock market game when I first started and although we weren’t on the same team, he really helped me when deciding which stocks to invest in,” Cohen said.
Chen was 1st place in the Stock Market game out of 50,000 teams in the world, and was one of the lucky 25 in our district who got to attend Nationals in California. He also managed to help 14 other kids from our school place in the game and go to Nationals as well.
“I won a trophy at districts for being 1st place in the simulation,” Chen said. “Then, for Nationals, I had to create a business plan about how I picked my stocks and create a presentation on a huge board. Unfortunately, I placed 4th on my presentation, which is still impressive, but not as well as I would’ve hoped to do.”
Impressive it is, indeed. In fact, Chen’s accomplishments in the DECA Stock Market Game helped him land a job at an insurance company as an intern, where he is able to make more money than the average high school student and have flexible hours.
“My boss was completely impressed by my accomplishments since he worked in Wall Street himself, and I was able to talk to him fluently because of the skills I’ve learned in DECA such as how to present, how to be business formal, and how to talk to elders and impress them,” Chen said.
A job and DECA aren’t the only thing Parry has on his plate. He has a long list of extracurricular activities that include volunteering at Memorial Hospital West, playing the piano, being secretary of NHS and being a member of Key Club as well as SGA and Science Club. He even once partnered with Senior Michael Hirsh for a service project and, with the support of Junior Achievement and the Huizenga School of Business, taught middle school students about business and entrepreneurship.
“I’ve done a lot of extracurricular activities in order to build up my college applications because I plan on applying to Cornell and Harvard,” Chen said. “Getting into an Ivy League school is crucial because my parents don’t have a lot of money and those are the schools that actually pay you to go there.”
With his modesty and motivated attitude, Chen is sure to get into any university or pursue any career he desires. With hopes of one day being a financial analyst, Chen also hopes he has money on the side to invest in the stock market as a hobby.
“I remember ever since we started playing the stock market game Parry always won,” Senior Mina Entessari said.” Honestly, that kid is gifted in the stock market and knows all the tricks to the system. One day I expect him to be a big stock broker or some great businessman.”
Whether Chen will one day be a great financial analyst or one of the top stock-brokers in the nation, one thing that everyone who knows him agrees on is that he has a bright future in finance.
