An Interview with Robert Spence, the President of University of Pittsburgh The Trading Pitt
1. What are the goals of The Trading Pitt and can you tell me how the organization got started?
The purpose of The Trading Pitt is to run a virtual portfolio as a global macro hedge fund that takes positions across five main asset classes: equities, derivatives, fixed income, commodities, and currencies. The goal is to achieve absolute returns relative to the Global Macro Hedge Fund Index. I founded the group with my fellow board members in the fall of 2008 because there was no previous extracurricular outlet for students that were interested in trading.
2. What type of events does the Trading Pitt run during the year?
We host a trading competition on Investopedia each semester in which all of our members compete against each other to see who can achieve the highest return. The winner at the end of the semester gets a prize. Last year the prize was a $100 gift card. We are also looking to take a trip to New York City in February to attend the Money Show, which is a traveling convention for traders. I think that this will give our members a great opportunity to network with the people who are actually in the field trading professionally.
3. Rob, can you tell me about yourself? How did you get involved with the organization and become President?
I have been trading stocks and options since my junior year in high school (2005). Among those of us that initially formed the group, I had the most experience in financial markets, so it was very easy for me to start out in the president role.
4. What advice do you have for other students that are interested in assuming a leadership role in a student organization?
The best time to start getting involved with something you’re interested in was yesterday. Target the people who are in the positions that you would like to occupy in the future and pick their brains. Most people are more than happy to share information with those who seek it. If the position/organization doesn’t exist yet at your school, don’t hesitate to create it. You can reach out to the leaders of other people who head similar organizations for guidance/ideas as to make your group successful.
5. What are your current views on the economic markets?
I think that we are due for a correction in the U.S. equities market, which I believe will give the dollar an intermediate term bounce. I’m trading this with a Strangle on SDS (Ultrashort S&P 500 ETF). Basically I’m betting that whatever the move is from here, that it will be significant.
6. Where can students go to get more information about your organization or to reach out to you?
Our website is currently under construction, but if you want more information about our group, shoot us an email at thetradingpitt@gmail.com. One of the board members will get back with you as soon as possible with the answers to your questions.
