CNBC $1,000,000 Challenge

TheFalls · Feb 15, 2007

Anyone else going to do this?
An average trader obviously has no shot, and it could interfere adversely with your real portfolio.....but i plan to use it as a learning experience until my bankroll is blown.

I read an article about LY winner who netted 400%!!! ($5 million). He has his portfolio up to like $2million and put it all on one stock that had just previously ran from $35/share to $4. It recovered and flew back up.

I'm going to do this and probably get smoked considering you can not short any stocks, and I am the definiation of anti-public/contrarian/don't pass line.

ivyconniver · Feb 15, 2007

It's free, so it's not really a contest of skill. Whoever wins is going to be a random lucky person who hits a couple big runs on no name stocks.

SSI · Feb 15, 2007

im thinking about doing this.... should be fun but not really real......

no way, you will trade this contest, like real money......

greed and emotion ------- will not enter the picture......

TheFalls · Feb 15, 2007

ivyconniver said:
It's free, so it's not really a contest of skill. Whoever wins is going to be a random lucky person who hits a couple big runs on no name stocks.

Probably so; penny stocks aren't allowed. Each co. must have a market capitalization of at least $500 million.

SHACK · Feb 22, 2007

I entered. I used to do a lot of contests when I was in college. I placed several times in the CNBC/USA Today Contests Professional Division. I was fortunate enough to win the 1994 AT @ T Collegiate Investment Challenge, which netted me $5000 and a live interview on CNBC. Not to mention a lot of clients.

WorldNumberOne · Feb 22, 2007

i'm signed up..

want to see how fast i can blow thru a mil...

c00kieS · Feb 22, 2007

I entered the contest. No $$ down, nothing to lose...why not?

Dawoofdaddy · Feb 22, 2007

SHACK said:
I entered. I used to do a lot of contests when I was in college. I placed several times in the CNBC/USA Today Contests Professional Division. I was fortunate enough to win the 1994 AT @ T Collegiate Investment Challenge, which netted me $5000 and a live interview on CNBC. Not to mention a lot of clients.

Thats pretty cool Shack.

Ill probably enter this since its free, but wish I could short stocks with this imaginary trading capital.

SHACK · Feb 22, 2007

Dawoo,

Yes, it was a great experience. Was on the show will Bill Griffeth and Jonathan Steinberg, who later married Maria Bartiromo. I rode in the elevator with Marria before the show, she was just starting to get known then. I was hoping to get Maria to go to the room with me, lol, but she was talking to Steinberg in the elevator after the show and in hindsight I guess they were seeing each other then.
Shorting isn't the key in the game though, you need to make over 100% to win and a short won't get you there.

TheFalls · Feb 22, 2007

Shack-good story.
Was Maria smoking hot or what?
She definately has the likes-to-get-beatdown look.

Who do you work for now?

SHACK · Mar 2, 2007

The Falls said:
Shack-good story.
Was Maria smoking hot or what?
She definately has the likes-to-get-beatdown look.

Who do you work for now?

Yes Maria was hot. She could use a little more meat on her bones though.
I am an independent and clear through a major bank brokerage.

Dawoofdaddy · Mar 4, 2007

Bump.

Registered tonight and should be exciting.

Would be great if one of us rx guys made it to the finals.

glta

:money8:

SSI · Mar 4, 2007

i think im in.......

WorldNumberOne · Mar 5, 2007

am i reading this right :

it says that our trades are made at the closing number ..

meaning that i see a price i like on a stock and place an order , it doesnt get filled until the close and my price could ( and would ) have changed a lot..

that seems pretty f'd up..

TheFalls · Mar 5, 2007

World Number One said:
am i reading this right :

it says that our trades are made at the closing number ..

meaning that i see a price i like on a stock and place an order , it doesnt get filled until the close and my price could ( and would ) have changed a lot..

that seems pretty f'd up..

ya..you get the closing number.

BASEHEAD · Mar 5, 2007

The Falls said:
ya..you get the closing number.

Yes this is quite gay but what the hell.

WorldNumberOne · Mar 5, 2007

kind of a joke then...

not to real..

so i sit here all day and watch my stock go up $ 2.50 knowing i wont see any of that profit .

i guess they are trying to eliminate the day traders and those who want to jump in and out.

TheFalls · Mar 5, 2007

And the ways things are looking-most stocks will be sold closer to closing.

desrat · Mar 5, 2007

World Number One said:
kind of a joke then...

not to real..

so i sit here all day and watch my stock go up $ 2.50 knowing i wont see any of that profit .

i guess they are trying to eliminate the day traders and those who want to jump in and out.

Maybe, but why limit the number of trades then? I thought that was for the day traders. I think GE is just too cheap to spend any money on the technology needed to run it like a real brokerage account. They probably have interns and pages doing all the compilations and data entry at the end of the day.

WorldNumberOne · Mar 5, 2007

they should have just stolen investopedia.com's simulator...

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