This "Financial Focus" column is prepared by Edward Jones Investments, headquartered in St. Louis. Jones includes branches throughout the nation, including Cape Girardeau and Jackson.

It's always gratifying to see people benefit from investing in the stock market -- but a 10,000 percent return? That's what a group of eighth-graders achieved in merely three months of stock investing.

Of course, eighth graders can't invest directly in the stock market. This was the CNBC/MCI Student Stock Tournament, and the winners were members of the Investment Club of Port Huron South School in Port Huron, Mich.

It's an amazing feat to turn a hypothetical $10,000 investment into $1 million in three months. What's even more interesting is how they did it.

The contest allowed a few considerations that most investors don't enjoy. The $1 million result was without brokerage fees or taxes. The students invested imaginary money, so they took more risks than most investors would. And they traded often, sometimes several times a day.

But the way the students picked their stocks is worthy of sharing: They followed the same criteria any astute investor would.

For example, one guideline was to invest in companies that affect our lives positively. They also wanted stocks in promising industries where most companies in the sector would probably benefit. They learned that large companies with a diversified product line are especially attractive. They paid particular attention to competitors, earnings and new products. The students also looked for companies with strong foreign exposure, making sure such exposure had a positive impact on profits. Two of their favorite sectors were pharmaceuticals and telecommunications.

The students were not long-term investors, but they realized the importance of buying shares at the right time. They looked for reported developments, good and bad, that would give them reason to buy or sell.

The students also compared their opinions with those of the experts to ensure they didn't miss anything. If they found more "hold" or "sell" than "buy" recommendations on a stock, they re-evaluated their decision.

The students did a lot of research, much of it on the Internet. They tracked Reuters and Business Wire online and were able to obtain volumes of information on the Web, from current valuations to historical charts.

They also read The Wall Street Journal, looking for ideas about companies. When a news item caught their eye, they'd research the company's financial health and prospects. Television helped, too. When they saw an impressive CEO being interviewed, they looked into the company.

Granted, these students used imaginary money, and they didn't have the benefit of professional advice. Investors would be better-advised to enlist the help of a competent investment representative.

In addition, they took risks. We never hear about the students who took risks and lost. In these competitions, only the winners make the headlines.

But perhaps these eighth-graders won because they didn't try to find a new method to beat the market. They followed time-tested principles of what to look for in a stock investment. They may have used new tools like the Internet, but they followed the old rules -- and won.

The Southeast Missourian does not recommend that readers buy or sell stocks featured in this column, which is provided for informational purposes only.