CNBC Million Dollar Portfolio Challenge
I managed to close in the top 5% in the CNBC Million Dollar Portfolio Challenge.
Having no edge with the "put it all on black" approach needed to actually win the game (and lacking Bill Luby's superb volatility tactics), I decided instead to see how my real-life approach would measure up.
I started with 15 stocks, then kept whittling down the list, selling the laggards and plumping the winners. Almost all were stocks in my real-life portfolio. I rose to the top 5% early on -- when it was only about 250,000 participants -- and then drifted between 4-7% for the rest of the contest. My big winners were AAPL and CELG.
Unfortunately, I was very undisciplined about the Bonus Bucks thang, and remembered/chose to plod through the questions only about half the time. A tactical blunder, just $48,000 of the above winnings were Bonus Bucks. I figured I left about $100,000 on the (imaginary) table.
Anyway, I opted into the final round, and probably will try a 3-stock strategy. I'll let you know how it works out.
Congrats to everyone who participated, and Happy Mother's Day!
best
dk
2 comments:
Good job on the top 5% finish...
Thanks...but not close enough for a cigar - lol
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