CNBC.com Announces "Million Dollar Portfolio Challenge"

by: Randy - posted: 2/12/2007 10:42:00 PM

Perhaps you're like the mathematically god-like Maximillian Cohen in 1998's Pi.  Or perhaps you want to get your Giovanni Ribisi on in the Boiler Room.  If you're NASDAQ-savvy enough and/or sneak late-night peeks at E*Trade's landing page, then you're a prime candidate to be CNBC.com's winner of their "Million Dollar Portfolio Challenge."  All registrants will receive 1 million "CNBC Bucks" to establish their own high-risk portfolio (think Fantasy Football for the Wall Street Journal crowd), track the real-life course of their financial decisions, and hopefully push the greatest percentage of gains for the contest's duration.  Ten weekly winners will win $10,000 (in cash money, yo), while the top-dog trading investor will walk home with a cool mil.  The challenge begins March 3rd.

 

CNBC.COM ANNOUNCES

“MILLION DOLLAR PORTFOLIO CHALLENGE”

GRAND PRIZE WINNER: $1 MILLION

 

PICK HOT STOCKS, WIN A COOL MILLION:

TWELVE WEEKS OF INTENSE COMPETITION!

—NO MORE THAN FIFTY TRADES PER DAY—

 

All Registrants Receive 1 Million “CNBC Bucks”

10 Weekly Winners Will Win $10,000

 

 

ENGLEWOOD CLIFFS, N.J., February 7, 2007---Pick Hot Stocks.  Win a Cool Million.  The first-ever "CNBC.com Million Dollar Portfolio Challenge" (http://contests.cnbc.com/milliondollar/main.do) is underway where aspiring portfolio moguls can turn 1 Million “CNBC Bucks” into a Grand Prize of $1 Million US Dollars.  In addition, 10 weekly winners will each earn $10,000 based on their portfolio prowess.

 

Contestants can begin to register online at the new CNBC.com to receive their 1 Million “CNBC Bucks.”  The Portfolio Challenge begins March 5^th, 2007.  CNBC anchors will provide play-by-play commentary throughout the contest and announce the weekly winners. 

 

“The CNBC.com Million Dollar Portfolio Challenge allows anyone to build a Million Dollar fantasy portfolio into a real Million Dollar deal,” said Tom Clendenin, Vice President, Marketing, CNBC.   “With our challenge, everyone is on equal footing.”

 

Participants are provided with a fictional trading account, 1 Million “CNBC Bucks,” and the ability to trade individual stocks on the NYSE, NASDAQ and AMEX exchanges.  Individuals may be awarded bonus money into their trading accounts throughout the contest by answering questions on CNBC.com based on news and interviews seen on CNBC.com’s video-on-demand section and on CNBC television.

 

And participants can use CNBC.com’s tools such as the Stock Screeners, Portfolio Watchlist, Fund Screeners, Financial Glossary and Earnings Screenings to identify stocks he or she may want to include in individual portfolios.  Participants will track their portfolios by using the CNBC.com watch list. 

 

For ten weeks, beginning March 3^rd, the player with the largest percentage gain each week becomes the Weekly Winner and receives $10,000.  On May 14^th, after ten weeks, the finals begin.  All ten weekly winners will be invited to participate in the final round for the $1 Million Grand Prize.  In addition, ten other contestants will be invited to compete in the finals: the ten players who have the highest portfolios as of May 11^th.  For the finals, the clock is effectively reset.  All 20 players will again receive 1 Million in "CNBC Bucks" to build a brand new portfolio. 

 

In the two-week, winner-take-all challenge, contestants compete to build the largest portfolio.  Trading will close on May 25, 2007 and the player with the highest portfolio value will be awarded $1 Million. 

 

·                                                                                Contest Dates:                   

·                                                                                Registration Currently Underway

·                                                                                Contest Begins: March 5, 2007

·                                                                                Finals Begin: May 14, 2007

·                                                                                Contest Ends: May 25, 2007

·                                                                                Contest Duration: 12 weeks

 

·                                                                                How it works:                     

·                                                                                Players are given 1 Million in “CNBC Bucks” to start

·                                                                                Players can make up to 50 trades per day

·                                                                                For 10 weeks, the player with the largest percentage gain becomes the Weekly Winner and receives $10,000

·                                                                                After 10 weeks, on May 14^th, The Finals begin

·                                                                                Only the top 10 players as of May 11^th and 10 weekly winners are eligible to compete in The Finals

·                                                                                The twenty finalists start over with 1 million in “CNBC Bucks” in a brand-new portfolio

·                                                                                The finalists compete for the $1 Million Grand Prize in a two-week, winner-take-all challenge to build the biggest portfolio

·                                                                                Trading will close on May 25^th, 2007 and the player with the highest portfolio value will be awarded $1 Million