Hey, let's all take part in the CNBC Million Dollar Portfolio Challenge

Hey PFbloggers and readers,

I have a proposal.  Let's all take part in the CNBC Million Dollar Portfolio Challenge.  It's free to join, and you can actually win prizes of $10,000 or the grand prize of $1,000,000.  It's very simple.  You sign up at CNBC's web site.  Beginning on March 5, they give you $1,000,000 in CNBC bucks.  You can make up to 50 trades per day and the goal is to have the largest portfolio after ten weeks.  Each week they will award $10,000, and after ten weeks twenty players will compete for the $1,000,000 grand prize.  How cool would it be if one of us won?

Here's what I propose to make it more fun among us.  Each week I will post our group's results.  I will rely on emails or comments from you to keep your information updated.  Of course, as I am not running this thing, your results will have to be on the honor system.  At the end, I would encourage all blogger participants to post a congratulations to the winner with a link to his/her site.

As a disclaimer, I am not affiliated with CNBC in any manner whatsoever.

Post a comment or send me an email if you plan to participate.  Remember, the contest starts on March 5, so sign up today!

Comments

[NCN]

I'm in!
NCN

[ARW]

Sounds like fun. I will join too! Thanks!

[mapgirl]

Sounds like fun, but 10 weeks isn't even a full accounting quarter. They're asking for short term bets and honestly, that's not where you superstar growth. That's measured in full year terms.

Sounds like they are trying to drive people to short attention span investing, which is what sent people windmilling their arms this week over a 4% drop in the Dow. BFD. I lost 4% in one portfolio and less than 0.75% in the other. I'm not scared by short term volatility. I'm scared by the idiot minds that created a contest around it.

[LAMoneyGuy]

mapgirl,
I totally agree that this contest is absurdly short minded. In fact, my strategy will go along the lines of, "look for extremely volatile stocks, hope one of them announces merger news and shoots up 100%." Obviously not a good long term strategy.

Just thought it would be a fun diversion. C'mon, come out and play with us!

[thatedeguy]

I'm in.

[Charles]

I was already planning on it.

[mapgirl]

awww. I would love to, but I'm swamped at work right now. No time for ANOTHER project, even if it's really fun.

[El Indio]

I'm in too. Yesterday I started the efipo.com challenge at the virtual stock exchange website. I am using it as a learning tool before the CNBC game. Good luck to everyone!

[Lulu]

I am in too! I am doing badly on the Zacks stock challenge but hopefully I will do better on this one.

[RTB]

I'm in too!

[Norman Nunes]

cool

[Robert Cote]

I'm doing it for the practice. No way am I gonna come close to winning. I'm really investing. The wildest ride in the theme park I'm building is Apple, pretty staid for trying to triple in 11 weeks. After Day 1 I'm in the 28 percentile. Seeing as I only invested half and the remainder doesn't earn interest. That's pretty good/lucky. Mostly luck as one day with the likes of Berkshire Hathaway and AAPL and Lucent isn't investing.

[Stefan]

FYI, you can find the answers to the daily trivia questions at:

http://www.bonusbuckstrivia.com/

[domo]

Just checked my account on CNBC's site...it says I have no holdings, zip, zero, when in reality I was up a reasonable sum. They lost my info. This happened to anyone else? What a waste of time; at least it wasn't real money.

[David]

Anyone else having difficulty with the site? It lost or didn't register one day of triva answers, lose $3000. And today, Friday, I can't access. I log in but my portfolio is gone, no money, no stocks, no nothing. Wow, this is fun.

[Rex]

Logging in was impossible today.

I logged in after about an hour.

I did answer the questions.

I think I put in my sell order.

But I was never able to enter a BUY order.

My account info was all gone when I was trying to buy.

Last game, I never had a problem with the site. Always problems this time. Always.

[Deb]

Anybody feeling disadvantaged? I am so frustrated with this game..I have written to CNBC three times now regarding the loss of my portfolio. No response other than a generated email. I was not able to participate today due to my portfolio suddenly "disappearing". They also didn't credit me $3000 bonus bucks from Wednesday's trivia. I got both questions correct, the results showed that I got them correct, but the $3000 never showed up on my account Thursday morning. It seems that others are having the same problem.

[Deb]

The previous post was under the wrong name..gee now here is another example of "tech" problems.

"Anybody feeling disadvantaged? I am so frustrated with this game..I have written to CNBC three times now regarding the loss of my portfolio. No response other than a generated email. I was not able to participate today due to my portfolio suddenly "disappearing". They also didn't credit me $3000 bonus bucks from Wednesday's trivia. I got both questions correct, the results showed that I got them correct, but the $3000 never showed up on my account Thursday morning. It seems that others are having the same problem."

[Deb]

Where did the name "REX come from? Is there a Rex on board. So strange how it replaced my name when I hit the post button.

[CSV]

I also lost my entire portfolio today (everything blank and bonus bucks $0) and couldn't put in any trades by the time the market closed. Was okay before the market opened but I always put my trades in towards the close.

Yes, this is frustrating and putting those of us having these issues at a disadvantage considering the way you have to play this contest.

[John]

Hey Gang,
I've had the same problems with the Bonus Bucks on a daily basis, but I yell and the money eventually shows up. My big issue with the contest is that someone named Nancy Beaumont had eleven portfolios on the Leaderboard on Thursday. On Friday she was ranked #2, 5, 9, 10, 11, 16, 19, 22 and 23. As of Saturday morning, she's in the top three spots, and has six other portfolios in the top 25. I've written to them about it since Thursday. If they give her the money and interview her on TV, and she's just up there because she had tons of entries, the whole game becomes a sham. The website can't keep up with us now - what happens if we all set up a thousand portfolios each with a million dollars of some longshot for the week?

[lamoneyguy]

Sorry everyone has had problems. Fortunately, I have not had any problems. On the other hand I have not made any attempts at earning the bonus bucks.

[Richard]

The CNBC Million Dollar Portfolio Challenge isn't working! It won't let me pick any stocks.

[dvvf]

why not invest for real and make your own money instead of hoping to win a gay contest. plus, is there nothing better to do with your lives than join a gay group of gays on the net to participate in a gay contest? get a life dude, get a life.

[new jordans]

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