This is a joke, right? It is fundamentally flawed. Look at the leaders and their respective methodologies. Every one of the top performers got there by taking extraordinary risks in their portfolios of play money, buying massively in front of earnings announcements, buying takeover rumors, buying high risk high reward situations across the board. No one in their right mind trades like that.
If CNBC wants a real contest, make participants put up their own real money, $50,000 per account of their own funds. Now let's see who knows what they're doing.
A
4 comments:
Yes Allan but it's all about ratings and wouldn't it be fun to risk 0 and have a chance at a mil?Beats any lottery
Allan, I am "so" on your side of this. Who cares to watch what we can not follow. I am here for some years now. I am more wise and much more wealthy for it. I would sooner keep here reading your blog waiting for just one more crispy morsel of market wisdom then be any other place. Thank you Allan.
Well said Allan... Experience and reality talks.
It would be interesting to see a follow up on the "winner" a year (ok, maybe a month) after the $1 million was won.
Such a contest, other than for the publicity, is more about making the right guess at the right time which, in real trading and as you know, is against the odds and quickly doomed to failure. The antenaes to play with fake money just aren`t compatible with working with real money in more than one way. Knowing how to make calculated and regular profits is richer than owning a sudden $1 million.
Regards,
Frank at Stocks & Bulls
Pincus:
Agreed.
However Robbins Trading Company has done this with futures for a long time- the contestants usae their own real money.
I know little about investing (I can barely balance my checkbook) and nothing about futures but this is a "real" contest at least. They track the winners and prize money is awarded.
GO STANFORD FOOTBALL
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