Wednesday, March 07, 2007
The CNBC Half Million Dollar Challenge
The sponsors like to call it a million dollar challenge but it is an annuity and present value minus taxes in California it is more like $400,000. No matter. I'm doing it for the practice. No way am I gonna come close to winning. I'm really investing. The wildest ride in the theme park I'm building is Apple, pretty staid for trying to triple in 11 weeks which is what I think it will take to win. After Day 1 I'm in the 28th percentile. Seeing as I only invested half and the remainder doesn't earn interest, that's pretty good/lucky. Mostly luck as one day with the likes of Berkshire Hathaway and AAPL and Lucent isn't investing. If I don't recognize a one day gain of $9,000 as luck I've no business pretending I'm an investor. We'll see after a few days.
Now, I'm surely not the only person here playing. How are you all doing and any tips?