Tuesday, May 20, 2008

CNBC Million Dollar Portfolio Challenge!

Let the Games Begin!

Since I'm confessing to other things I figure now is a good time to confess to one of my other vices. For the longest time, I was addicted to CNBC! You know -As in - I used to watch it religiously at every opportunity. After 3 interventions and successfully completing a 12-step program I was able to ween myself away from my daily fixes. I'm now down to about two or three times a week and shorter spurts. I used to wake up in the morning to Squawk Box and just power through the day. When I was sitting in my office I'd have it on for background noise. Okay, so yes I am exaggerating a bit but you get the point. Anyway, last year, about this time, CNBC announced that they would sponsor a Million Dollar Portfolio Challenge. The competition would allow individuals to trade a fictional portfolio of $1,000,000.00. They advertised and marketed the competition like crazy. So for grins, I signed up. It was a fun. I worked my way gradually up the ladder until I was in the top 3%. And that's when I pulled out all of the stops. In the last two weeks I knew I had to be very aggressive to win. After all, there was to be only one Grand Prize winner and that was going to be me. Needless to say, my aggressive moves didn't pay out and someone else took home the big check. Oh well, I told myself there was always next year.
Well next year is here and Monday I signed up again. The contest is a little different this year. They're allowing each contestant to trade 5 different portfolios. The plan is designed to allow $900,000.00 in stock and $100,000.00 in currency trading. They've had some issues getting the currency trading started. We'll see if they can work out all of the bugs. Nonetheless, I'm off to the races. My poorest performing portfolio is has me in position 508,016th. My best performing portfolio after 3 days has me in the top 14.4% and in game position 96,007th. So only about 96 thousand people to pass and approximately $400,000 in profits are required to catch up with the leader.
The good news is: After I win I plan to have a really big party and invite all of my Blog Friends! So wish me luck and send me your stock tips!
If you want to check it out or even play along..... Follow this link to CNBC -Million Dollar Portfolio Challenge!
Thanks in advance for your support and Good Luck if you decide to play along!


Jane Turley said...

Well, it all sounds a bit complicated to me Mr I! The only suggestion I have is cocoa shares. I believe the price of cocoa has been rising for sometime and one thing's for sure there will always be demand for chocolate....

Imagine if you should win Mr I!

intrepidideas said...

Hello Miss Jayne! I like that... Stay long on the commodities! Okay, I'll bite on that one. Thanks for the tip. You'll surely get an invite to the party.

Speedcat Hollydale said...

Will I be invited????? (discerning look)

intrepidideas said...

Of course Speedy- You're sitting at the celebrity table!