Here is a portfolio for you to use to follow along with the contest that will give you the % you want. You will note it has the same stocks you picked and the portfolio total cost is the same as your contest portfolio. You will be able to determine the difference in % gain as well as dollar gain for your method vs. contest method.
Scott, seems you're missing some entries. With the 2 mentioned in the prior post included, I'd be 10th at 4.4%. siliconinvestor.com Of course, with equally weighted stocks, I wouldn't even be close to positive. :) Bob
Why doesn't SI have the guts to come out and say Hey! We made a mistake! It was our intent to sponsor a Stock picking contest for the enjoyment of our members. Knowing we have the most knowledgeable investors on the Internet, we should have put more effort into this project. The Stock-Picking Challenge thread has proved just how savvy our members really are! We Apologize to all our loyal members and vow the next Challenge will be handled in a fair and logical manner. We also would like to take this opportunity to invite each and every member to share their thoughts and ideas to make the next Challenge a success. We here at SI sincerely appreciate our members and want to express our heartfelt Thanks for your forgiveness in this blunder!
Jon- you are right. My suggestion is a portfolio picking contest. It is also a stocks picking contest. I contend they are one and the same. The idea behind picking stocks is to make money. Plain and simple.
A stock picking contest is just that - A STOCK - Not plural. One. That would be fine too (and would be easy to track). Once you start talking more than 1 stock though, a "stocks" picking contest is just another name for a portfolio. That is the definition of portfolio.
I was beginning to lose all respect for this contest.
Really? So now you have the upmost respect for this "KISS" principle? To that I say that Investing is Challenging, and I see no reason to have a simple contest. Or, perhaps SI can have two contests? Let's see how many participants join in each one? How about it? :o) Then we'd have three contests going.
I still say Suck it up SI! Admit the mistake and let's straighten this out.
How many members are there here at SI? How many readers are watching? There's no reputation at stake here is there? We don't want to go to RB and start a thread called SI's flawed contest discussion.
(forgive me for beating this horse to death, I just can't stand it!)
No, Doppler, you are wrong. You are twisting semantics to your own liking.
Make up all the private definitions you want. But make it clear that that is what you are doing.
There IS an accepted definition of a "stock-picking contest". You pick "n" stocks, and put an equal dollar amount in each stock. It's a test of your ability to pick several stocks, which must do well in aggregate for you to win.
Several financial publications have have publicized these kinds of challenges for years. A common wrinkle is to pit the experts against the dartboard. The rules are always the same, though, in the regard that the dollar investment in each of the "n" stocks is equal.
A stock-picking (you call it stocks-picking, I call it tomato....) contest is NOT a portfolio contest - they are NOT one in the same, and there is plenty of precedent for the term.
A portfolio contest is entirely different - run along the lines of the rules that mutual funds follow. (And there generally ARE rules - typically you may have no more than x% invested in any one stock, so that you cannot get away with picking just a single stock and have your other picks be insignificant.)
I don't see the point of a contest where you pick one stock. There's no statistical validity to any supposed correlation between the result and the skill of the winning stock-picker.