Hello everyone. We have an official statement for you from CNBC on an investigation into the Million Dollar Portfolio Challenge. It speaks for itself. Here it is: The CNBC Million Dollar Portfolio Challenge ended May 25th. CNBC has been contacted by several contestants alleging unusual trading in violation of contest rules among some of the 20 finalists. Once these questions were raised, CNBC immediately launched a thorough investigation to determine who may have violated the rules. As the rules state, CNBC has until July 8, 2007 to declare a winner. Although CNBC hopes to announce a winner before that date, it is more important to ensure the individual awarded the Grand Prize is in compliance with the rules. Thank you again to everyone who participated in the CNBC Million Dollar Portfolio Challenge.
Hello everyone. The CNBC Million Dollar Portfolio Challenge has ended and the results from the 20 finalists are being analyzed. We are also analyzing the results from Second Chance Showdown. This requires, among other things, certifications of compliance from the winners. Once the certifications are complete, the winners will be announced. Thank you once more to everyone who participated in the Challenge. Be sure and check back with us.
Joe Dondero is another of our Million Dollar Portfolio Challenge contestants. He's vying for the $1,000,000 along with 19 other finalists. Joseph ended the first part of the contest with a portfolio value of $4,168,274.64--one of the top ten and that let him compete in the finals. He's currently in 4th place. The contest ends today!!
Will it be Nancy, or Serge or Steven--or maybe someone else winning a $1,000,000? The Million Dollar Portfolio Challenge is winding down today. Trading stops at the closing bell, so what happens will depend on who picked the best stock or stocks--as very little money separates the top three contenders. But as we said, there could be someone back in the pack, that's picked the best stock to leapfrog over the big three.
Hey everyone, please read this post. Once The CNBC Million Dollar Portfolio Challenge is over, the results from the 20 finalists and the Second Chance Showdown will be reviewed. Once we have received the necessary paperwork from the winner of both contests, he or she will be announced. Thank you once again to everyone who participated in the Challenge. We hope you enjoyed it.
Nancy Beaumont already has some firsts in the Million Dollar Portfolio Challenge. She was our first weekly winner--and that qualified her for the finals. And she's currently in first place as the contest enters its last day. Nancy is a Director of Counseling at Touro University in Vallejo, California. Her strategy was "to buy small stocks." We'll see how that plays out by the end of trading today
Here's one of our last looks at the contest stocks. The most active and widely held remained pretty much the same throughout the contest and the finals--for both the Million Dollar Portfolio Challenge and Second Chance Showdown. Most best and worst performers were affected by earnings and M&A's over the weeks as well. Here you go:
Scott Cole is not exactly a stranger when it comes to trading. That's probably why he's one of the twenty finalists competing for the $1,000,000 prize in our CNBC Million Dollar Portfolio Challenge. Scott is an investment fund manager with a BA from Northwestern University and has a MBA from Stanford University. He's married with two young children.
Shi Nisman is one of the twenty finalists in our Million Dollar Portfolio Challenge (by the way, his first name rhymes with shy). But Shi is not "shy" about the contest--he's in 7th place today as we head into the last hours of trading for the contest. He wants to win the $1,000,000 prize--but has some work to do. His strategy for the contest was to pick volatile stocks with expected low correlation to the rest of the contest participants. Shi works for an investment firm and grew up in Israel and San Antonio, Texas.
Well, it's the final day of trading for the Second Chance contestants--who are competing for the Sony Home Theatre Entertainment System. You "second chancers" continue to outpace the Million Dollar Portfolio contestants by over $300K in total portfolio value--but the Million $ contestants have narrowed the gap again. So here's the latest on Second Chance. Ronald Rose jumps from sixth place into first place. Ronald only gained a modest $2K, but with losses by Wednesday's top 5 contestants he was able to take the lead.
Good morning all. We're starting this last day on the rough side as more than half of our Million Dollar contestants lost ground Thursday in a volatile market. All of our finalists are fully invested, with the exception of #15, Chuck Chow who is all in cash. Nancy Beaumont holds first place for the 4th straight day on the 9% gain of Gymboree. Nancy may hold onto the top spot with her almost all-in trade on Verigy, a Singapore-based maker of test systems for the semiconductor industry, which beat estimates after the bell Thursday. Verigy was up almost 10% in extended hours.
John Tepichin says he's all in on his one stock--Biomarin--and "going for the fences," as the Million Dollar Portfolio Challenge is coming to a close. The contest ends Friday at the closing bell. John's stock was down some 2 percent today, but he says he has some "strong" ideas for Friday. He's currently in 15th place out of 20 finalists--so John better have some pretty good "fence going" ideas.
Barry Scholech is a 33-year-old radiology resident at Henry Ford Hospital in Detroit, Michigan and hoping to win a $1,000,000 as a finalist in the Million Dollar Portfolio Challenge. He's one of the twenty "fighting" it out for the big prize. Right now, he's in 17th place so he better come up with some strong medicine--and fast. The contest ends Friday.
Well, today is the biggest day for our Million Dollar Portfolio Challenge contestants. The trades they execute prior to 4pm will be the last trades that will impact their total portfolio value based on their performance on Friday. Only $22K separates the top three positions. Nancy Beaumont holds first place for the 3rd straight day. Nancy looks like she may maintain her first position with retail company Gymboree. Joe Dondero is losing so far today on his all-in bet on Ansoft. It's down in a rather 'up and down day" on the Street. But like Nancy, 3rd place holder Serge Amelyan is getting the benefit from Gymboree's rise.
Here's some more contest stock information for you--a look at the week's best and worst so far. Earnings as well as mergers brought out the best and worst in companies. Remember, today is the really big day for trades as the trades executed prior to 4pm today (Thurs) will be the last trades that will impact their total portfolio value based on their performance on Friday.
Mary Sue Williams says she doesn't own any personal stock--hard to believe considering she's one of the twenty finalists competing in the Million Dollar Portfolio Challenge. If she didn't own any before, she sure knows how to pick them now. She's currently in 5th place and out to win the $1,000,000 prize--with just two days to go. Mary Sue is a food server at a local Italian restaurant...(check out our slideshow for all the finalists)
Hey folks, here's one of our last contest stock reports. And it's somewhat appropriate we do so as we are coming back full circle to the start of the contest with Fremont General once again on the actives list based on their news about its reorganization, selling a unit, and installing new management. Here you go:
Well, like we said for the Million Dollar Challenge, today's trades will be big for the Second Chance Showdown players. But the players continue to outpace the Million Dollar contestants by over $500K in total portfolio value, though the $M finalists have narrowed the gap. Aric Fanzmeier's portfolio fell back below the $2M mark with a loss on ValueClick and Gamestop but he managed to hold onto first place for the third day. Jacob Swanson moves into second with a $411K gain on Fremont General. Both Aric and Jacob have bet on earnings for Thursday.
Good morning everyone. Today--Thursday--is a big day for our contestants. The trades they execute prior to 4pm will be the last trades that will impact their total portfolio value based on their performance on Friday. And, the race at the top gets tighter each day. Only $22K separates the top three positions. Nancy Beaumont holds first place for the 3rd straight day on the 9.75% gain of The Men's Wearhouse. Nancy looks like she may maintain her first position with Gymboree up almost 10% in extended hours.
Ban Tran says he's so caught up in the excitement of the CNBC Million Dollar Portfolio Challenge, that he's delayed finding a job until he's completely through with the contest. Well, he won't have long--with the contest ending this Friday. Ban is one of the 20 finalists competing for the $1,000,000 prize. So maybe if he wins, he'll delay his job search even longer.