Friday Night's OTM had an interesting conversation with a former and current contestant: Chris Thomson. Chris is a buy-side analyst with a money management firm. He was in the top five from last year's "Squawk Box" Portfolio Challenge--so he knows where of he speaks.
Chris says the key lesson he learned is fairly simple: look for stocks that have some sort of upcoming catalyst--like earnings. Seems like common sense but sometimes common sense is NOT so common to find. Chris says it's also good to look for stocks that haven't had huge run-ups before earnings come out.
How much time does Thomson spend on the contest? He says about an hour and a half a day.