Cnbc Million Dollar Challenge - Mass Cheating - All Accounts Revert To Zero

Discussion in 'Wall St. News' started by THE-BEAKER, Oct 22, 2011.

  1. Trading in CNBC's Million Dollar Portfolio Challenge was suspended as of close of trading today at 4:00 p.m. ET for one week.




    All trading suspended until 30/10/11.

    It came to our attention that there was a technical glitch in the current equity trading system, which a handful of players found and exploited to jump to the top of the leaderboard. The contest accidentally allowed what our rules specifically prohibited.

    Out of fairness to all registered contestants and as is our right, according to the rules of the contest, we are suspending the contest and will restart it Sunday, October 30 at 5:00 p.m. ET. Upon relaunch, all player accounts will be reset to their opening balance. Play will begin anew for the final five weeks of the contest. All winners from the first five weeks, including this week, will retain their prizes.

    We apologize for any inconvenience, but fundamental fairness compels us to take this action.
  2. WTF!! Nobody play fair anymore just the stupid people. I think they did not want to let a certain person win. Why not that way you can rig the game better and really screw people over.

    Welcome to Planet Misery,

  3. Pretty simple concept. They allow you to buy and sell at last price and there is system lag between cnbc's order entry and the real time market prices. You just trade dollar stocks like EK or S and trade the spread all day. Buy when the tape hits the bid and sell when the tape hits the ask. Its tedious but looks like some guys got vacations out of it. I wonder what the new rules will be.
  4. Thanks for providing the details. I hadn't seen specifics discussed anywhere.
  5. LOL

    And the "Industry" wonders why the typical Joe is pulling his money out of the active markets and sticking it in some 2.5 year cd that pay's 3%, it that.

    Even main street who strives to be in the game has little morality.
  6. The USA is no longer the Home of the Brave - it is the home of the Coward and Cheater - sad

    (btw I live in Chicago)
  7. Eight


    Tell it to Bin Ladan, Ghadafi, Iraq, etc...
  8. I don't see it that way. I see it as "Oh you think you're so smart, watch this."