You've Got Mail! We certainly do since we opened our blog today and they're mostly dealing with one issue as you can see: multiple portfolios. I'll quickly go through them and then answer the burning question.
You can have multiple portfolios? Huh? Everyone should just enter as many times as possible and put all their money into one stock. The luckiest person wins. What's the point? This game has nothing to do with being a good stock picker or portfolio manager. I can hardly believe the financial geniuses at cnbc could do no better than this. This game is a sham and I've been duped - I'm out.
Being able to have more than one portfolio in the contest is rubbish. i am sure there are other participants who feel the same way.the true leader is the one who has only a single portfolio and has achieved the highest percentage gain.
While Joe from Oregon writes:
Just wondering what the ruling is on people with multiple entries. If a person has several portfolios entered in the contest, will the all be treated separate, or will they be averaged together?
And finally from Phillip:
I gather from your post about Nancy Beaumont that she is not in breach of the rules by maintaining multiple portfolios. Can you confirm this? If this is the case, I certainly plan to register some new portfolios, but no guidance as to whether this is allowed has been forthcoming from CNBC (and Beaumont has not yet been declared the week 1 winner according to the website).
Thanks for any insights,
Okay folks-here's the straight scoop. I can tell you all that--YES--it is perfectly all right and within the rules to have multiple portfolios, and that no one is breaking the rules by doing so. If you choose not to take part in the contest, like Michael, we hope you'll please reconsider. We want everyone to have fun and enjoy themselves. Whether you have multiple portfolios or not--you can still win.
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