CNBC Million Dollar Portfolio Challenge Update

The million dollar portfolio challenge is in full swing over at cnbc.com and shockingly, I’m not winning! I’m playing two portfolios in the game and my best portfolio ranks in the 82nd percentile and officially in 118,677th place as of the end of trading Friday (10/14). From the $1,000,000 starting balance they give you my best portfolio now has $1,059,353 for a gain of 5.94%.  Of the two portfolios this isn’t the one I expected to be performing the best. I’ll keep my specific holdings a secret for now, but I will say I hold 4 US stocks in this portfolio and hold one foreign currency. The stocks are actually performing very well for me, but I’m taking a beating in the forex trading. This is to be expected however, because I really had (have) no clue about currency trading as I mentioned in my original post on the game. … Continue reading

CNBC Million Dollar Portfolio Challenge

CNBC.com is having their yearly “Million Dollar Portfolio Challenge” and this year I’m throwing my hat into the ring. It’s basically an amplified version of the stock market game you may have played back in high school. CNBC gives you 1,000,000 “cnbc bucks” to invest in a portfolio of stocks and currencies ($900k for stocks $100k for currency). Whoever has the portfolio that shows the greatest gains wins! The grand prize is $1,000,000 with other big prizes such as a Maserati and a few exotic vacations. I don’t have any experience with currency trading, but I’m going to study up a bit and give it my best shot. I have no illusions of actually winning because what it takes to win a contest like this is the exact opposite strategy of how you or I would invest in real life. Where in my posts I preach about investing with a … Continue reading