Is it me, or does it seems silly that there was limit to what % of your account you could put on a single stock? Not only would it have been unrealistic to bet 100% on a single play, but the slippage would've been ridiculous. CNBC just rigged the rules for people who were loose and fast with their money. I don't think any of those guys could be considered serious traders if that's how they play. The fact that the top 2 only made it their because they both just happened to pick the same stock is so ridiculous. It awards the masarati based on luck more than skill. Just my thoughts. I would've been more impressed with someone who got 50% return while maintaining strict money management and diversification rules.
Trading competitions always work this way. There is always going to be someone who has some ridiculous gain, so the only chance to win is to be super aggro. Pros such as Larry Williams, etc will quote from an astounding competition result for years. What you don't hear about is the number of competition accts they blew up, or even the fact that they may have had 5 different accts per competition (some allow this). Jay
I agree that the rules created a contest based more on luck than skill, but I know for a fact the third place guy does o.k. trading in the real world.
Taking risks with play money is what the contest is all about. You have to get the greatest margin ahead, even if that means putting all your eggs in one basket. Believe it or not, I'm Jeremy's sister (the 2nd place winner today!!!!) and the daughter of one of the best day traders in the country as well. So I can attest to the fact that it takes much more than luck to be able to pick that one stock that will give you the edge. It takes a whole lot of research on more companies than you can count, not to mention extensive knowledge of the market's entire history. You've gotta love it and devote all your time and energy to predicting what each company will do next. And yes, my father and brother do beyond well trading in the real world. And they certainly know what "serious" trading is all about. (althought, I admit, a little luck is nothing to scoff at!)
WOW: The winning trade from 2006 was DE-listed: http://news.moneycentral.msn.com/ticker/article.aspx?Feed=AP&Date=20070205&ID=6437695&Symbol=ESCL How do I find the list of Co's about ready to get delisted this year? I need that $1 mill, in $36,000 annual payments over a billion years.