Lessons from students

College may be a great place to learn about the investment business, but professionals could learn a thing or two from a group of 20 students at Houston's Rice University. Founded last fall, Rice's student-run investment group, Owl Capital Management, outperformed the market from Oct. 14 to the end of the fall semester Dec. 22. The portfolio rose 14%, while the Standard & Poor's 500 stock index dropped by 13%. The portfolio was up 2% from Oct. 14 to March 18, compared with a 20% decline for the S&P 500. Other colleges also have investment clubs that have outperformed the market, such as Colby College in Waterville, Maine. But unlike Colby and Yale University in New Haven, Conn., which get endowment money to invest, the Rice students use their own money. The group is a registered general partnership under which each member buys between one and five $100 shares in its portfolio at the beginning of the year and receives a payout at the end of the year that reflects any losses or gains. As of Dec. 22 the portfolio was worth about $10,000. In addition to investments, Owl Capital also seeks to educate area high school and college students through financial information sessions and lectures. The group has also started a journal to provide financial information to other college students, already reaching more than 10,000 students online from 40 campuses worldwide. "It's really rewarding," said Chris Kopczynski, the group's founder. "We can give a fresh collegiate perspective on the market, and we're looking into collaborating with other collegiate financial-writing groups to create a premier journal." Although Owl Capital is independently run by its student members, Mr. Kopczynski said, they take advantage of real-world connections to further their investment education. "A lot of us have worked at different firms, so we still have those relationships," he said.