I must confess. Yes, I have turned to my blog to make a confession. Actually a couple. First, I am solidly hooked on CNBC. This is what I have become. This is me. Today. If I am hanging in my house, and it's a business day, I got "the first in business" on the tube. With the live market reports, business perspectives, and trader analysis, this stuff gets me going. This network has a rather long history, first emerging on cable in 1988. I've only recently discovered it, since I am relatively new to cable. But once they introduced the "Million Dollar Challange" I was indeed hooked.
What's the "Million Dollar Challange" you ask? Why only the coolest contest in the world. You sign-up @ cnbc.com and they give you $1,000,000 of play money and let you trade and sell stocks. It lasts for 10 weeks, with one winner each week. (And a grand winner after that.) I got in the game the second or third week and tomorrow it enters the fifth week. (I think.) Each player is allowed 40 trades a day. The funny thing is, I've only traded about 18 times total!! And I am ranked in the top 18% with about a 5% return on the pretend cash!! It's really fun and there are about 450,000 contestants currently playing.
And then there is Erin Burnett. Opps, my stock is rising. Excuse me.
10 comments:
Well it could be worse. You could be hooked on Fox News with Bill O'Reilly. ;D
Wow, good for you, Flix! That's some pretty good investing you've done for yourself. If I had $1,000,000, there is a good chance I'd invest it all in umbrellas. Why? Why not? There's a reason my personal banker worries about me.
Pru, that is true.
Mish, it's been great fun and I've learned quite a bit about the stock market. I really don't know if I could ever use real money.
The contest sounds like it could be a lot of fun!
I have a friend that attends the Univeristy of the Pacific in CA and their class is given $100,000 dollars(real money) and they are to invest it in the stock market during the school year. It is a 2 semester course and if they make money in their investments it is used for various projects at UOP. The class started a couple years ago due in part to a generous donation by an alumni.
Ryan - That's pretty cool!
Flix - I was hooked on CNBC back in 1994/95 during the OJ debacle. CNBC was all OJ, all the time. BTW, are you hooked on CNBC or Maria Bartiromo?
LA- I loved the OJ trial and watched every minute! I miss those days.
Ryan, that sounds like a great learning experience.
LA, both! And through Erin in there, too
Pru, it was great theatre.
Flix - you'll be pretend rich and pretend retired in no time!
Great to hear about your interest in CNBC, and the markets and investing. I'm not sure if you're an experienced investor but for any novices out there please be aware that the stock market is a very volatile place when investing in individual stocks. At the same time, historically (since the early 1900s) the stock market has returned the highest yield (compared to CDs, Bonds, etc). That's why for most people, it is best to invest in the market, which means an index fund which tracks the S&P 500 (or Wilshire 5000, etc). For those interested in investing and spending free time researching to beat the market, check out the Motley Fool. It is a stellar investment website started by two terrific brothers (who have a track record for beating the market, aka they know what they are doing) and is run by individual investors for individual investors. It is simply an invaluable resource.
Sorry about such a long comment, it's just that the stock market can be a troubling place without the proper information and preparation. And www.fool.com is truly, in my opinion, a helpful resource for anyone.
PS - www.fool.com = Motley Fool website
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