Good morning. We'll start off today with our weekly winner for week #6. It's James W. Kraber III. James is self employed as a market risk analyst--so he trades for business. He's now removed from the leaderboard and qualifies for the finals.
James told us about his strategy: "For the weekly win, I used the multiplication rule of conditional probability. Applied to the CNBC contest, if an entrant randomly chooses one stock out of four possible stocks each day for five days, the odds are 1 in 1024 (i.e. ¼5) that the entrant will choose the best performing stock each day. Since I was confident in choosing four stocks with at least one 10% gainer each day, I played multiple portfolios...my methods for selecting stocks included betting on earnings, catching falling knives, betting on takeover candidates (Mondays only), and using of a high risk version of my own proprietary method."
(wow--James is definitely in the biz!).
What will James do if he wins the $1,000,000? "With all the excitement I will ‘attempt’ to maintain my concentration in studying for the CFA Level III exam that I am taking on June 2nd. I would then like to start an education program for junior high school students to introduce them to calculus in an effort to help them gain more confidence in math. The program will emphasize the value of pursuing college education in math, science, and/or engineering regardless of what career they choose."
James went on to say that the one stock that surprised him the most was Vonage on Friday.
And what does James like to do in his spare time--he says to play: golf and to watch football.
What are his favorite TV Shows? Currently running favorites: "Power Lunch," (Thanks James) "Sopranos," "Entourage," and "South Park." All time favorite: "Seinfeld."
Congratulations to James!
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