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Celeb Ernie Hudson: Better Off Just Holding The Cash??

Ernie Hudson is currently co-starring on ABC's "Desperate Housewives" and has over 100 film and television credits on his resume. He's now ready to add the credit of celebrity stock picker for our "Trading With The Stars" part of the Million Dollar Portfolio Contest.

Ernie's competing for the first hour of "Closing Bell." Remember, the stars and CNBC-TV programs are going against each other!

Ernie said he just got back from Europe--that's why he hasn't begun trading yet (as Dyan Ratigan points out in the interview below, that's not bad idea right now as having cash puts Ernie in a top spot. The other celebs aren't picking so well!!).

"I know absolutely nothing about this, so I'm hoping I can learn," says Ernie. (mmm..maybe he should keep the cash.)

His personal areas of interest are basic materials and water, as well as senior citizen care. He said he's going to be studying up on stocks in the next few weeks. Hope he gets stocks as quickly as he gets his acting lines!

Ernie's charity is The Creative Coalition. He joins actors Stephen Collins and Willie Garson as well as political analyst and TV producer Lawrence O'Donnell--who are also playing for The Creative Coalition.

Each of our participating celebrities will receive $5,000 towards their favorite charity and the winner's cause will receive an additional $50,000.

We want to hear from you. Send your comments to millions@cnbc.com. For specific contest comments dealing with issues like technical questions or registration problems, please contact customercare@support.cnbc.com.