Hi everyone. We got quite a few responses from you after I posted yesterday, the latest round of emails that came in, so I thought I'd post some more. Like the others, they cover a range of opinions and I picked the ones that reflected most of your thoughts. Just fyi--we do take what you say seriously so thanks very much.
Why not have a stock challenge contest between amateurs and professionals? This way the playing field would be level in contrast to the current game. Also, one entry per person would be more in line for competition.
An anonymous email says:
Love your contest. Maybe next year you could widen the winners' chance of winning some real cash ! A million dollars is a lot of money ; but also like playing the lottery, you have a very slim chance of winning. If you spread out the winnings to the top 100 - I think you would attract more contestants and make it more interesting and suspenseful on the final days!
This from Rich:
Gentlemen: I think you are doing an excellent job in running this contest. It would be a good idea to make this an annual event. I will not be winning any money but the experience, fanfare and general excitement makes the contest a happy endeavor. The competition gives one a tremendous thrill. Good luck to all of the participants and keep up the fine work you are doing in keeping us informed on how we are progressing. You have truly made the contest a special event.
Just fyi Rich-we have plenty of "gentlewomen" working on this contest. In fact, it would be impossible to run the challenge without them!
This contest is all about attempts to pick long shots (check what all the weekly winners have picked), and that's perfectly ok with me. In my personal portfolio I would never, ever, pick the way I have been picking for the contest. As of now I am in the top 3% which seems the best I am going to be able to achieve because I don't have time for any more specific research.
And another Jerry writes:
Really love the Million Dollar Contest and am glad to hear that it might be back next year.
One suggestion might be to limit each player to only one account and then they will have to put their best efforts forward. In response to Walt Fulps comment on how EDU can increase revenue by 50% and still have a loss, as a retired businessman I can tell you that it is easy to have a loss if you don't watch your expenses and they increase by 51% or more at the same time that revenue increases by 50%.
And this from Jim:
Dear Sir or Madam:
Although I do not believe in creating a lot of arbitrary rules, if CNBC plans to have future contests like this one, I would like to offer a suggestion. Make the contest a little more real-life. That is, make it a requirement that each participant have a minimum number of stocks in his/her portfolio, for example, five, or ten, at all times. This would have benefits on at least two fronts. One, it would reinforce to novices and to experienced investors the practice that an individual should have a diversified portfolio. Also, it would mitigate the luck factor in which an individual just happened to make a "one lucky pick" or the situation in which an individual has "special knowledge" on a single stock. I believe someone at CNBC could design an appropriate system that would keep to the principle and avoid loopholes.
My best to Joe Kernan, CNBC, and the Bearcats,
Once again, thanks for your thoughts folks. We'll post more as they come in.
We want to hear from you. Send your comments to email@example.com. For specific contest comments dealing with issues like technical questions or registration problems, please contact firstname.lastname@example.org.