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CNBC's Million Dollar Portfolio Challenge

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TechnoPotamus
Posts: 11626 - Karma: 3,522
hey dudes.


CNBC is having a portfolio challenge/stock picking challenge where you get $1,000,000 fake dollars to make your best possible portfolio using equities and currencies. First place wins a real 1 million dollars, second place gets a maserati and then they've giving away 10 vacations. It's a pretty big contest.

Anyway, it started yesterday and runs through November so you should enter, what do you have to lose?




i'm up $10,000 since yesterday so it's kinda fun, especially if you have a clue about stock markets. post up your best picks or just call me a big tool for doing this or idk, go sit on your thumb and rotate.
Sep 20 2011 11:34AM
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TheStamos
Posts: 9311 - Karma: 910
i spend 899,000 ISh bucks allready. One buy , lets go SWX !

Sep 20 2011 6:05PM
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_DUSTY_
Posts: 1097 - Karma: 686
Damn it why not in Canada. I just want to do it for practice.
Sep 20 2011 6:16PM
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.RYAN66
Posts: 5381 - Karma: 237
make it investment


i would have made one awhile ago just not to sure how to set errything up
Sep 20 2011 6:16PM
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.cam.
Posts: 1852 - Karma: 48
https://newschoolers.com/ns/cult/home/id/5257/t/Investment+Cult/
Sep 20 2011 6:26PM
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.RYAN66
Posts: 5381 - Karma: 237
anyone going to join besides me?


also some aud has a nice buy roll right now
Sep 20 2011 6:43PM
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I.B
Posts: 8137 - Karma: 24,355
investing
Sep 20 2011 6:49PM
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H8CH
Posts: 2709 - Karma: 218
This-! I just dumped a bunch of my own real money into BAC..... (Bunch = north of 8 grand).

I fancy it for long term - it only needs to get back to 18 or so and i'll be happy with that....

not gonna happen by november mind.
Sep 20 2011 6:50PM
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TechnoPotamus
Posts: 11626 - Karma: 3,522
haha yeah man not a chance. we're all competing against people who do this for a living, including hedge fund managers and Chartered Financial Analysts, but I just figured I'd put it out there and hopefully help give people a taste of trading and mutually educate each other a bit.

plus it's fake money, so it's perfect.
Sep 20 2011 7:43PM
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dmc12380
Posts: 3545 - Karma: 792
kind of wack they determine the winner by % return. you could dump all your money into some penny stock and make like 1000% return, but not much in a real capital gain.

if you interested in this stuff, go to www.updown.com

you start with $1 million and are automatically enter into a contest every month where you can win real money. plus you can trade ETFs and shortsell, and do stop and limit orders
Sep 20 2011 8:38PM
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Sno.
Posts: 12155 - Karma: 6,152
They judge the winner by % return? Then why does the leader board have them listed by order of portfolio amount?
Sep 20 2011 8:41PM
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CassiusClay
Posts: 1757 - Karma: 2
Click for larger image
Sep 20 2011 8:59PM
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J.D.
Posts: 21362 - Karma: 5,144
^
Sep 20 2011 10:37PM
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Mr.Turtle
Posts: 3690 - Karma: 96
use mod powers to delete those 2 posts to erase evidence. everyone uses insider trading, just don't get caught
Sep 20 2011 10:43PM
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SlimDunkin.
Posts: 2065 - Karma: 361
My economics teacher entered this, he shorted some company, I cant remember which but jumped up like 69 gs, he also invested in a ton of penny stocks, which may be a cheap strategy but its a damn good one.
Sep 20 2011 10:49PM
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YewTard
Posts: 619 - Karma: 196
Sep 20 2011 10:54PM
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Charlie_Kelly
Posts: 11954 - Karma: 12,302
No clue what im doing but here goes nothing
Sep 20 2011 11:33PM
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shitty
Posts: 242 - Karma: 46
I'm glad I saw this thread, interesting contest. Games like this are interesting, in that there is absolutely no regard for the whole risk/reward trade-off that confronts every investor. In regards to what TechnoPotamus said a little earlier in the thread, we have jobs and there is still BOATLOADS to learn. I just graduated last year and now work as an equity research analyst and thought I knew a good bit about investing but it only took a couple minutes of getting smacked around by some seasoned portfolio managers to know my place on the totem pole.

I think the top players in this game will easily have returns in excess of 1000%. There's no reason why one wouldn't have 5 different portfolios utilizing 5 separate completely ridiculous strategies. I expect to have one, maybe 2 portfolios with adequate returns (+300% maybe) while the others will probably crash and burn terribly. But why not? There's no real risk.

My thoughts: If your looking at buying midcaps and large caps (from wal-mart to netflix to whatever), while they are companies most of us all know, they will generate modest returns or losses at best (-50% to 100% let's say). Which is fun and all - nothing wrong with that. But money is probably in distressed securities, micro caps/penny stocks. Stuff that I wouldn't never dip my own money in, but why the fuck not? what's there to lose? Just go, make a new account and move on? We're not in a raging bull market at all, so just going long on big name equities won't get you far "competition wise" in this game. Shorting a certain stock gives you a maximum return of 100% at a time, and the timing has to be spot on. In addition, looking for "value" and what not won't get you very far. You have 2 months to win. Some may not believe in it, but i think having the ability to read charts will get you far(ther) in this game. Looking for companies with great earnings that are ready to "break out" as we would say. Google "technical analysis" and read a little about price movements and volume, it gets very deep and complicated, but it could prove quite lucrative. Knowing a little is better than nothing at all. Just my thoughts. Best of luck and take chances!
Sep 21 2011 12:25AM
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N-John360
Posts: 835 - Karma: 8
I am in this contest myself and I think they are fun, however I do not think it is good for learning finance. The winners of contests like these always have a ridiculous return for making extremely risky bets - bets they probably would not make with real money. Successful investors think years down the line, not 10 weeks like how long this contest is. If a hedge fund manager told me he made 50% return during a 10-week period, I would run without looking back, because with that strategy he could lose 70% the next week.

As for my strategy for this contest - trade small-cap stocks and hope I hit a goldmine (for those new to finance small caps are more volatile and more likely to experience the swings necessary to be at the top of this comp).
Sep 21 2011 12:30AM
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cool_name
Posts: 4295 - Karma: 3,131
random tip put all money into skyline gold they realaseing findings soon
Sep 21 2011 1:37AM
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Sno.
Posts: 12155 - Karma: 6,152
that stock isn't available in the contest.
Sep 21 2011 11:12AM
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Sno.
Posts: 12155 - Karma: 6,152

yes, i know, I'm a retard. I was thinking of 100% return on a 20.00 stock vs. a .01 stock...

I wasn't thinking about it from the standpoint that in both scenarios you're investing the same amount in each.

Sep 21 2011 12:03PM
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CassiusClay
Posts: 1757 - Karma: 2
No problem- just joking a bit. But yes, portfolio performance is the ultimate measure for this contest. Drop a bunch on aapl and it moves a couple bucks? You probably won't do well. Drop a bunch on a growth stock that moves from 10 to 75? You're guaranteed to do well. The trick with contests like these is create all 5 portfolios that they allow you to and make sure they are risky as shit/you would never actually do this in your own life. That way hopefully one or two of your portfolios will do well while the rest will get destroyed. With fake money there is no reason to not 'go all in' with what you have a small inkling will do well.

To anyone looking for help- the equities world is very tough to jump into, you need to know what you're doing a lot more so than currencies. Spend a lot of money on a currency you think will rise fast, or you think is doomed (short euros) - not sure if they allow you to short currency in this game though.
Sep 21 2011 2:46PM
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Sno.
Posts: 12155 - Karma: 6,152

There are a shit ton of stocks that are unavailable in this game.

Also, I learned today that this game is no fun when the entire market crashes...what a shitty day for stocks.

Sep 21 2011 4:09PM
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PON3
Posts: 3817 - Karma: 783
Welcome to playing with stocks. Your bound to have more of those days.
Sep 21 2011 5:39PM
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.RYAN66
Posts: 5381 - Karma: 237
Yeah not a good day today. I was going to sell my aapl when it hit 430 because that seemed like the trend as sure as shut it drops 20 in the last hour
Sep 21 2011 6:22PM
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shitty
Posts: 242 - Karma: 46
Today was not a very good day... the downturn looked to be lead by financials - with Moodys cutting BAC, wells fargo, and citi's ratings. Here's something you can use: ETFs, which can follow indexes, groups of stocks, commodities, bonds, currencies.

More specifically, in today's market, the use of INVERSE ETFs would have been the ticket. For example, a Dow inverse etf tracks the dow jones where if the index is down 1%, the ETF will be up roughly 1%. Now I haven't played the game yet so I don't know its available, but today I would've been all over 3x inverse ETFs. These not only inversely track the performance of whatever that ETF follows, but multiplies the returns (or losses) by 3 times. My favorite has always been, and especially in this market is FAZ, a 3x financial bear (inverse) ETF tracking financial stocks. NOTE: I don't know this game, but I always close this position at the end of the day due to "daily rebalancing" which for simplicity let's just say it lessens returns.

We can look at today's biggest gainers on yahoo! finance. What do you see? Inverse ETFs and stocks with prices <$5 generally. http://finance.yahoo.com/gainers?e=us Its hard for most kids on here to do all this since you're in school all day, but if you look at the news in the morning and let's say europe news is not looking hot, you can maybe change your daily strategy accordingly.
Sep 21 2011 6:43PM
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TOAST.
Posts: 7519 - Karma: 36,552
I have a feeling that somebody that is already a millionaire will win this.
Sep 21 2011 7:01PM
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CassiusClay
Posts: 1757 - Karma: 2
I don't think you can. I've been trying to short currencies and couldn't figure out how to do it. If they allowed shorting this game would be so much easier.
Sep 21 2011 9:21PM
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Tinga
Posts: 11349 - Karma: 2,333
holy wow the opening hurt a bit huh?
Sep 22 2011 10:04AM
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Charlie_Kelly
Posts: 11954 - Karma: 12,302
well corn took a fucking huge tumble. I guess this is what you get when you play a game you know nothing about. I just made a second portfolio and invested everything in HP.
Sep 22 2011 10:11AM
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skiminnesota
Posts: 9093 - Karma: 429
lol i was up a bit yesterday and now ide have been better holding onto cash. nothings making me money except GR which made me a decent amount but everything else in the portfolio has lost me money.

its crazy though that the leaders are at just 1.2ish million. nucking futs.
Sep 22 2011 10:12AM
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TechnoPotamus
Posts: 11626 - Karma: 3,522
DJIA down 294 points and falling as i watch right now

S&P 500 down 27 and falling.



adios to my initial gains haha
Sep 22 2011 10:37AM
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molsongolden
Posts: 1649 - Karma: 162
kabloom

Sep 22 2011 10:59AM
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.RYAN66
Posts: 5381 - Karma: 237
Damn. Stocks are in trouble again
Sep 22 2011 11:47AM
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Sno.
Posts: 12155 - Karma: 6,152
yeah the leaders actually dropped yesterday. After day one they were at 1.2+, yesterday at 1.16+
Sep 22 2011 2:40PM
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skiminnesota
Posts: 9093 - Karma: 429
my proshares ultra short fund is making me money.

just about the only thing that is. lololol

dow down 500 FAIL

S&P down 370 FAIL
Sep 22 2011 3:30PM
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Abc567def
Posts: 8756 - Karma: 801
This was actually a really interesting thread to read on peoples opinions. Sucks that I'm Canadian and can't dabble with my piggy bank
Sep 22 2011 4:02PM
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Sno.
Posts: 12155 - Karma: 6,152

pretty much all of mine ended down for the day except for GR.

I did make about 10k today though, by buying/selling a volatile stock during highs and lows. So now I have 1 million and five thousand dollars. lol.

Sep 22 2011 4:07PM
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Peach.
Posts: 3879 - Karma: 933
Watch me gamble my money away based on zero logic and win.
Sep 22 2011 4:13PM
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skiminnesota
Posts: 9093 - Karma: 429
yep, GR has been killing it for me, to bad everything else in that portfolio took a shit. haha
Sep 22 2011 5:03PM
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hoodSlayer
Posts: 900 - Karma: 7
up 28k as of today
Sep 22 2011 5:10PM
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shitty
Posts: 242 - Karma: 46
hedging? going long in equities with etf shorts? i honestly dont mean to sound like a preachy bitch,, i apologize, but big money in this time horizon isnt made diversifying. put it all in one position (equity side). if it turns down reverse the position if possible or go to cash. FAZ, as mentioned lastnight, wouldve made about 100k today. eggs in one basket in this fantasy. just offering my thoughts..
Sep 22 2011 7:47PM
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Sno.
Posts: 12155 - Karma: 6,152
I had all the money I could (250,000) on FAZ. went pretty high but ended slightly lower. Didn't make 100k-- you can only put up to 25% each.
Sep 22 2011 7:58PM
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Sno.
Posts: 12155 - Karma: 6,152
I have one stock-- YOKU-- that is up 16% today.  To bad I bought the stock prior to it's extreme decline. I'll need it to raise to about 18% just to get back to even on it.
Sep 23 2011 10:13AM
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Sno.
Posts: 12155 - Karma: 6,152
woot! glad I got into Netflix and Red Hat last night.
Sep 23 2011 10:27AM
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Sno.
Posts: 12155 - Karma: 6,152

quad post post-whoring, what!

 I'm up $16,563.86 for the day...i know weak sauce in the grand scheme of thigns but feels a lot better than the last two days.

Stocks that are killing it for me:

AKS steel (hit a 50 week low yesterday, bound to go up)

YOKU (up 24% like whoa)

Netflix (rumors yesterday that they were partnering up with Amazon, and announced today that they're partnering with facebook)

Sep 23 2011 11:27AM
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Sno.
Posts: 12155 - Karma: 6,152
up 100k. How is everyone else doing?
Sep 27 2011 10:20AM
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TechnoPotamus
Posts: 11626 - Karma: 3,522
down 6600 at the close yesterday, up 11,400 so far today i think.

BLOWIN IT haha
Sep 27 2011 10:24AM
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Tinga
Posts: 11349 - Karma: 2,333
I'm bad at this. Still trying to recoup from last week.
Sep 27 2011 10:25AM
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Sno.
Posts: 12155 - Karma: 6,152

Those doing really well for me are:

YOKU, AKS steel holding, AOL, FAS, Red Hat, Walter Energy, and Arch Coal Inc.

Sep 27 2011 10:28AM
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