CNBC Million Dollar Portfolio challenge starts Monday

devianttrader

Quite unfair how Republic of Ireland is excluded.

TheInquisitor

Ireland is allowed!

BrokenArrows

Does anyone know what the winners in previous years portfolios were worth?
I haven't been able to find it anywhere.

Arciphel

Just signed up, sounds really interesting. I'd be interested in getting into online trading so going to use this as a dry run, hope I don't do TOO well :pac:

Isoaxe

BrokenArrows wrote: »

Does anyone know what the winners in previous years portfolios were worth?
I haven't been able to find it anywhere.

I saw two conflicting reports, one saying a 100% return and the other saying 500%. Are you allowed to use leverage (and if so how much) with either Forex or equity trading?

devianttrader

You need to be Australian, American or British resident.

devianttrader

I signed up anyway using the address of a motor cruiser in Isle of Wight. Where there's a will.

devianttrader

Arciphel wrote: »

Just signed up, sounds really interesting. I'd be interested in getting into online trading so going to use this as a dry run, hope I don't do TOO well :pac:

Will not give an acurate image of what real trading is like. A lot of scenarios and order types excluded by rules.

No Limit Orders or Open Orders.

Must not have a portfolio with just one stock representing the whole 900,000. No one position can amount to more than 25% of the portfolio value unless it grows to more than 25 during the course of owning it.

In real life; I only trade 1 stock at a time. In this competition; I will have to trade 4 stocks minimum, and for my style of trading to work I will have to find 4 stocks that follow an exact same trend all of the time.

devianttrader

BrokenArrows wrote: »

Does anyone know what the winners in previous years portfolios were worth?
I haven't been able to find it anywhere.

2006

CNBC, the World Leader in Business News, today announced the winner of its first-ever "Squawk Box Fantasy Portfolio Challenge," which tested the stock-picking expertise of its viewers by giving those who entered the contest $1 million in virtual "Squawk Bucks." On this morning's telecast of "Squawk Box"—CNBC's signature morning program with anchors Joe Kernen, Becky Quick and Carl Quintanilla—Thomas Ko of San Jose, CA, was revealed as the challenge winner with a portfolio valued at more than $5.015 million. He was awarded a 2006 Maserati GranSport live on the air.

2007

Mary Sue Williams won the $1 million by besting 375,000 people who entered CNBC's free fantasy stock game. Mary Sue, depending entirely on common sense, turned $1 million fantasy dollars into $1.3 million.

2008

Ed Burke over 2 million


2009

Stephen Weber used currency fluctuations and earnings plays to become the winner of CNBC's latest Million Dollar Portfolio Challenge. Weber, who was also the week nine winner, got to the finals on his currency-trading prowess. At the end of regular play, his currency portfolio value was $963,481.77, which was roughly half of his total portfolio value of $1,916,676.14.

BrokenArrows

Thanks for the info.


I got off to a good start on day one but things turned south today and i ended up losing about 1% of yesterdays profits.

Its kind of annoying the rules on what stocks are allowed to be traded. Kinda restrictive.

Also the site is slow as hell.

jkerr

Glad I found this thread to chat about the challenge. I was ranked 156th coming into today and I did very very well, so I expect to be much higher up the leaderboard tomorrow. I'm at 1.11 million right now. All of my gains are in the equity account because for some reason my computer won't accept the currency trading platform.

I have found it very difficult to try to do much daytrading with the site because it's so slow and you can't set limit prices, so the fluctuations kill your returns. Anyone else have any luck?

Arciphel

All my day one gains wiped out today ;-( carnage.

Glad it's not real money!

BrokenArrows

Only one of my portfolios have managed to survive the day. Im at 1.04mill at the moment.

All others are beyond redemption at something like 700-800 thousand, ill keep trying anyway.

Arciphel

Winner might be the one who manages to keep all their money by the end by investing in pork bellies and orange juice :pac::pac:

AstonMartin

Whats a good site to manage a virtual portfolio, competitions not a necessity as it would be a competition between a couple of people with a sidebet.