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 long-term mindset, in this contest the best strategy is to gamble it up and hope you hit big quickly. In any event I’ll have fun doing it and I’ll keep posting on my moves, strategies and progress in the game. If anyone else is playing feel free to comment on my posts and let me know how you’re doing in the contest (if you’re doing worse than me that is!)
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