CNBC’s Million Dollar Portfolio Challenge

CNBC The email read: Do you have what it takes to compete in CNBC.com’s Million Dollar Portfolio Challenge? Ooo, a challenge!

This started when two buddies and I made a bet to see who could earn the most money out of one dollar, after one year. We started the challenge last December 2006. If I can appreciate that dollar significantly by December 2007, I’ll win!

(We’re just playing for bragging rights and are going by honor that each of us will keep track of just that single dollar’s earnings accurately.)

With all that talk of investing bets, entering the Million Dollar Portfolio Challenge was a no-brainer. Here are the rules:

On March 5th we’ll give you $1,000,000 CNBC Bucks to play with. Make your picks on NYSE, NASDAQ, or AMEX and see how big a return you earn on your portfolio. Make up to 50 trades per day.

Each week one player will win $10,000. After ten weeks, only twenty players will make it to the finals for a chance to compete for the Grand Prize – $1,000,000!

You can earn bonus dollars to grow your portfolio. When you register for the contest, you’ll have a chance to refer 5 friends. You’ll receive an additional $1,000 CNBC Bucks for each one that signs up to play.

Ah. So that’s why he referred me. Dammit, he’s already $1,000 CNBC Bucks ahead of me.

If anyone else would like to enter this challenge, let me know! C’mon, it’ll be fun! Plus, I get an extra $1,000 CNBC Bucks!

Every once in a while, I’ll publish my trades & holdings on BizThoughts, so you can see how poorly I’m doing. I’m an amateur investor at best (and am nowhere near as good as someone like, say, a Playboy Playmate). But, heck, it’s only CNBC Bucks. And who doesn’t love a good challenge?

Author: Mike Lee

An idealistic realist, humanistic technologist & constant student.

8 thoughts on “CNBC’s Million Dollar Portfolio Challenge”

  1. CNBC’s Portfolio Challenge

    Is this a joke?

    I signed up and entered my stock purchases/transactions today, Monday, March 5th. They were posted to my “portfolio” BUT with Friday’s closing prices!???!

    I knew they would screw something up, but I didn’t think it would be something so simple as daily prices. Maybe I should ask for some 2004 prices if they are backdating transactions! :)

    This game has the feel of being made up by some advertising dork on Madison Avenue who’s never heard the stock market.

    If this is the way it’s gonna be run, with its already “too stupid” contest rules, CNBC will become the laughing “stock” it has often so richly deserved (pun intended).

    I emailed them as I know others have also. I’ll post up if they ever fix it.

    Keep up the good work, LA money man! :)

    B. Hopper

  2. MPEL has been talked down by Jim Cramer, but the next day after he sledged it, they announced their much touted Macau casino will be opening on time 28 April.

    He was wrong on it before betting on it, he is now going to be wrong betting against it.

    This one will rocket this week.

  3. This is a JOKE!
    Transactions posted before market open will be bought at CLosing Price of that trading day…what good is that?

  4. CNBC’s Million Dollar Portfolio Challenge is a big SCAM! I was ranked 61177 on Monday morning (3/12) before the trading began. My portfolio was up 8.99% as of Wednesday close (3/14). Yet, I am still ranked 61177 today (3/15). This means that the entire ranking system is corrupt. My best guess is that this contest is just a marketing ploy. The infrastructure to manage the contest is far too inadequate to provide accurate results. Whether that was done on purpose or lack of resources is unknown. What is obvious is that my ranking has not changed since Monday. Other players are probably having same problems. CNBC has not replied back to my email. Even though they promised to get back to me within 24 hours. It appears CNBC has received over 59,000 emails since the contest started. My guess is that many of these emails are because of problems contestants are seeing with the contest.

  5. I personally think this contest is all about “LUCK” than test of “REAL KNOWLEDGE”. This CNBC contest is not well organized and it’s total disaster. . . Trivia answers posted all over web. I bet all virtual $ on American Oriental Bioeng(AOB), reason why is that I bet my real money on it, if my research is right it soon will hit $15.
    GOOD LUCK to all of you contestants!

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