CNBC $1,000,000 challenge

Quote from stonedinvestor:

Jack does market environment play any roll?

Not really for the rockets and type 1's. It is tough for a stock to be in the hot list. When its there its there.

Is there a chance everyone bombs with powerful beta stocks during a correction and a highyield & M&A strategy might prevail with a 14% - 20% or so gain?

you can get a list of stocks that are showing a schedule of 250% earnings gain a year for the next 3 years. This tight list prevails no matter what the market sentiment is.

Right now with this regime, we are going through tough times for people who are really on the cutting edge of finance. There are going to be a lot of crimes investigated in the near future and especially as the major election nears.

It is tough on young people especially. If our debt on some of these things is not worked through properly, there will be tough times ahead for years to come.

Quality is the alternative to bad times coming up. It is important to have a "bullet proof" approach.

I will certainly be listing my picks on this thread- and to put these paper traders to shame- I'll actually buy the damn stocks question-- it's just a question of how much.

~stoney
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I think we can really post here as great daily election of stocks in advance for people who want to win some prizes. It will be tough to beat Trader666 but everone should try.

I've been on the Morning shows in the past, so it will be great to see a winner from ET be on the show. using my own name would be so dull.

Someone PM his phone number to me so they can schedule him when he wins. Do a search for us so we have the # handy.
 
I entered the contest myself. As an option and futures trader on the INDEXES I do not expect to win since it is mainly stocks..... but it is free so what the @#$%. Does not matter when I buy during the day anyway since it will be the closing price.

EDIT: The $1 million is paid as an annuity, $100,000 lump sum and then like $36,000 a year:

"One (1) Grand Prize Winner will receive (i) One Million Dollars ($1,000,000), payable in an initial one-time lump sum of One Hundred Thousand Dollars ($100,000) followed by twenty-five annual installments of Thirty-Six Thousand Dollars ($36,000) (the “Grand Prize”)"

CNBC is too @#$%ing cheap to just pay out the million that the person earned. Instead they get to defer it over 25 years lol...
 
This is a huge downer optioncoach: IT: The $1 million is paid as an annuity, $100,000 lump sum and then like $36,000 a year:

"One (1) Grand Prize Winner will receive (i) One Million Dollars ($1,000,000), payable in an initial one-time lump sum of One Hundred Thousand Dollars ($100,000) followed by twenty-five annual installments of Thirty-Six Thousand Dollars ($36,000) (the “Grand Prize”)

25 annual checks of $36,000 it sounds like a dividend.
God a million dollars isn't what it used to be...
 
$36,000 a year over 25 years is not a million when you consider time value of money lol.... with all the money they generate, they can't pay out the prize at once??

Quote from stonedinvestor:

This is a huge downer optioncoach: IT: The $1 million is paid as an annuity, $100,000 lump sum and then like $36,000 a year:

"One (1) Grand Prize Winner will receive (i) One Million Dollars ($1,000,000), payable in an initial one-time lump sum of One Hundred Thousand Dollars ($100,000) followed by twenty-five annual installments of Thirty-Six Thousand Dollars ($36,000) (the “Grand Prize”)

25 annual checks of $36,000 it sounds like a dividend.
God a million dollars isn't what it used to be...
More...
 
Quote from ByLoSellHi:

http://www.cnbc.com/id/15839052/site/14081545/#contestduration

The Contest will begin on March 5, 2007. After the end of the first ten (10) weeks, the ten (10) weekly prize winners together with the participants with the ten (10) highest portfolio valuations will compete for the grand prize in a play-off during the remaining two (2) weeks of the Contest.
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That last two weeks is when I turn over the account in trader666's name..so he can really burn the road up coming down the stretch.

Thanks to whomever sent me his phone #.
 
From the Rules:

Prize Winners:
... Participant with the highest percentage gain in his/her total portfolio value during such week will be declared the Weekly Winner for that week and will be entitled to receive a Weekly Prize, as described below,

... At the beginning of the Finals, the portfolio value for each Finalist will revert to One Million (1,000,000) CNBC Bucks.


So the strategy to get to the final is: Win 1 week, any week - it doesn't matter what you do for the other weeks since the value resets for the final. And the weekly winner is based on % gain, not dollars.

It seems then the strategy (at least for the preliminaries) is to bet "all in" on a single news stock - a biotech due for results of a trial; a takeover or merger rumor; a major earnings surprise. Anything that could give you a huge pop. If you loose, so what - you try again next week. All you need is 1 pick with a huge gain.

You've got 10 chances to pick 1 big winner - seems like easy money! (Yeah, right).
 
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