CNBC.com Launches "Million Dollar Portfolio Challenge"

Authored by Mark Hefflinger on February 8, 2007 - 1:38pm.

Englewood Cliffs, N.J. - Financial news cable network CNBC has announced the launch of its first CNBC.com Million Dollar Portfolio Challenge, a stock-picking contest where participants invest a virtual million dollars for the chance to win a $1 million grand prize. Players can use CNBC.com tools that screen stocks, funds and earnings to help pick which companies to invest in, and earn bonus money by answering questions based on on-air news and interviews. In addition to the $1 million for the top-performing portfolio, weekly winners will receive a $10,000 prize.

 

Related Links:

http://contests.cnbc.com/milliondollar/main.do

tags: Games | TV | CNBC |


Comments

Off and Running

Looks like the contest is off and running. Here's a comment I came across earlier: "One of the anchors mentioned that the 248 leaders all were 100% in SYKE, which was +23% yesterday. So, the leader must be at $1,235,000 with those bonus bucks."

WIKIPEDIA ENTRY REGARDING THE "MULTIPLE ACCOUNTS" CONTROVERSY

WIKIPEDIA ENTRY REGARDING THE MULTIPLE ACCOUNTS CONTROVERSY http://en.wikipedia.org/wiki/CNBC#Contest_.22Multiple_Accounts.22_Contro... Contest "Multiple Accounts" Controversy The Million Dollar Portfolio Challenge, which is being sponsored by OptionsXpress,[16] has become embroiled in controversy after just its first week when it was revealed that one participant, Nancy Beaumont from California, registered 800 separate portfolios in the contest, exponentially increasing her probability of winning the $1,000,000 prize, and leading to her occupying no fewer than nine places in the Top 25 Leader Board. [17][18][19][20] The express terms of the Rules, however, provide in material part: Description of the Contest: The contest is a stock trading game that provides Participants with a fictional trading account, One Million (1,000,000) fictional dollars ("CNBC Bucks") and the fictional ability to trade individual stocks on the NYSE, NASDAQ and/or AMEX exchanges. [21] The Rules further state: Trading: Each participant begins the Contest with One Million (1,000,000) CNBC Bucks to create a fictional portfolio of the NYSE, NASDAQ and/or AMEX-traded stocks. ... Each participant can make a maximum of fifty (50) trades per Day, based on the time the trade is entered by the Participant. [22] As a result of Nancy Beaumont's registration of 800 accounts, therefore, she has $800,000,000 CNBC Bucks available to her in the contest, spread over 800 separate accounts, and the ability to make a total of 40,000 trades per day. Other participants who registered one account per the express terms of the Rules, by comparison, have $1,000,000 CNBC Bucks available to them and can only make 50 trades per day. As a result, the probability of Nancy Beaumont winning the contest is dramatically skewed in her favor. The sponsor of the contest, OptionXpress has yet to make a statement regarding the controversy.

FYI, you can find the

FYI, you can find the answers to the daily trivia questions at: http://www.bonusbuckstrivia.com/

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