CNBC Contest Farce

Discussion in 'Trading' started by seasideheights, Mar 12, 2007.

  1. The leader has over 800 portfolios entered? Each with a different stock? LOL

    I guess I should write a program too to submit portfolios under new usernames.

    I'll do one for every stock on each of the exchanges.
  2. S2007S


    Everyone knew that was going to happen. You really think everyone is trading 1 account.
  3. This should just serve as further proof that such contests judge who is luckiest, not who is best. Even if each person had a single portfolio, the winner of the contest will still be determined primarily by luck. Throw a hundred thousand monkeys into a prop shop and one will outperform the rest dramatically. Is this monkey superior to the rest? No, someone had to come out ahead simply because the probability of every monkey performing identically is very, very low.

  4. There is no rule against multiple entries. Looks like Nancy actually read the rules, realized that multiple entries were OK, and took advantage of it. Whether she is a good stock trader or not, she certainly was smarter than most of the other participants as to how to actually play the game.

    Personally I think CNBC screwed up by not forbidding multiple accounts. But they can't really change now, can they? I mean think about it...maybe Nancy would sue them! LOL.

    As I understand it though....she can only win once weekly...and can only have one entry in the finals. So her ploy mainly accomplishes a weekly win it looks like to me.