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Ohio waitress wins CNBC stock picking contest
Old 07-14-2007, 04:45 PM   #1
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Ohio waitress wins CNBC stock picking contest

Ohio waitress wins CNBC stock-picking contest - U.S. Business - MSNBC.com

An Ohio waitress and welder with no prior investment experience won the CNBC stock picking contest. The first six contestants were disqualified for cheating in one manner or another.

CNBC announced the winner about a week later than schedule, in a very basic manner.

The winner says her methodology was to buy stocks in companies whose products she used a lot, like WD-40.
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Old 07-14-2007, 04:58 PM   #2
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We should invite her to join the forum!
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Old 07-14-2007, 04:58 PM   #3
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The first six contestants were disqualified for cheating in one manner or another.
CNBC announced the winner about a week later than schedule, in a very basic manner.
Business Week was all over CNBC like a wet blanket and actually ran an article about the possibility of this woman winning the contest. How long has that been dragging out... a month? Six weeks?

No such thing as bad publicity-- this one's going into the Marketing Hall of Fame!
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Old 07-14-2007, 05:31 PM   #4
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Yeah the stats were final in late may, but I think the article said the winner wasnt scheduled to be announced until July 8?

I guess they had to bring in some experts to analyze how the 'winners' might have cheated and scuttled the top people.

One of the things thats always seemed to ring true to me is that in a lot of "skill areas", some of the stuff is really obvious and makes a lot of sense...then you learn a lot about it and figure you can take an angle on something...but you cant...then your learning matures and you know what you do know and dont know and can be very effective. But that middle ground is a danger zone, where you know enough to really screw yourself if you're not careful, but not enough to know your limitations.

"Beginners Luck" indeed.

I think it was Peter Lynch that suggested buying stocks in products you're familiar with? and of course Warren Buffet who allegedly wont buy a stock in a company he doesnt understand.
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Old 07-14-2007, 06:20 PM   #5
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Yes, that's right investing in what she knows something about - that's my philosophy most of the time, anyway, thanks to Peter L.

Did I read right - WD-40? because she was a welder and used it....
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Old 07-14-2007, 07:33 PM   #6
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Let's face it, this says something about the world of investing....It's pure luck.

This lady, a financial cavewoman with respect to all the investment wizards out there using expensive sophisticated software, beat them all by throwing a dart in the right spot.

I'm guessing if this had been a brain-surgery contest, there would be no chance someone who had never touched a scalpel would have even been in the top 99.99% of potential winners.
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Old 07-14-2007, 08:19 PM   #7
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Let's face it, this says something about the world of investing....It's pure luck.

This lady, a financial cavewoman with respect to all the investment wizards out there using expensive sophisticated software, beat them all by throwing a dart in the right spot.

I'm guessing if this had been a brain-surgery contest, there would be no chance someone who had never touched a scalpel would have even been in the top 99.99% of potential winners.
You hit the nail on the head there.
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Old 07-14-2007, 09:48 PM   #8
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Let's face it, this says something about the world of investing....It's pure luck.
I'll agree it says something about the world of short term investing speculating. Speculating Investing contests are silly because they last a few weeks. Heck, you could find the greatest investment ever and the odds of it moving up over the span of a few weeks is just about nil. To me, investing results don't mean anything unless you are talking about results over a period of about a decade or more.

If this had been a brain-surgery contest with a ten second timer and a butter knife for a scalpel she might have won.
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Old 07-14-2007, 10:05 PM   #9
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If this had been a brain-surgery contest with a ten second timer and a butter knife for a scalpel
Finally! A reality tv concept I'd be interested in watching.

Especially if we get to pick the 'patients'...
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Old 07-14-2007, 11:11 PM   #10
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What was her prize for winning?
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Old 07-14-2007, 11:19 PM   #11
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[Dr. Evil] One...Million...Dollars...[/Dr. Evil]
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Old 07-14-2007, 11:20 PM   #12
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I guess they had to bring in some experts to analyze how the 'winners' might have cheated and scuttled the top people.
"Beginners Luck" indeed.
From the Business Week article CNBC's Easy Money :

"How could traders exploit CNBC's glitch? According to several participants, the technique was relatively simple, but not obvious to all participants. A trader could go to the CNBC Web site and select a number of stocks to buy, but hold off on executing those trades. If you made the selection before the close of regular trading at 4 p.m. EST and left your Web browser open, you could execute those trades after hours and still receive the 4 p.m. closing price. For example, if a company whose stock closed at $20 a share rose to $25 in after-hours trading, you could buy the stock at $20, even though it was already worth 25% more (see BusinessWeek.com, 6/8/07, Slide Show: "How to Game CNBC's Stocks Contest"). "
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Old 07-14-2007, 11:25 PM   #13
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Too bad we cant do that in real life.

Anyone else wanna vote for the formation of the new cnbc brokerage firm?

You'd think that these brilliant media guys would have covered all those sorts of angles...

Shoot...I should have checked my Kaiser coverage to see if they cover removal of the tongue from the cheek thing...
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Old 07-15-2007, 12:22 AM   #14
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So, previous stories have shown that monkeys can beat analysts at picking stocks.

This contest shows that someone with no market experience can do well picking stocks.

Obviously, we need a final round now... waitress versus monkeys. No holds barred.
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Old 07-15-2007, 11:00 AM   #15
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I know where we can get the monkeys.
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Old 07-15-2007, 01:50 PM   #16
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I think she should start an investment newsletter based on her approach
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Old 07-15-2007, 02:30 PM   #17
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Love your blog Dan...

Quote:
95% of my bulbs were changed to CFB 2 years ago (had used a few larger FBs over the years, but were too big to use everywhere)
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Old 07-15-2007, 02:39 PM   #18
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Love your blog Dan...



Thanks! I'm a big believer in CFB
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Old 07-16-2007, 02:21 PM   #19
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From the Business Week article CNBC's Easy Money :

"How could traders exploit CNBC's glitch? According to several participants, the technique was relatively simple, but not obvious to all participants. A trader could go to the CNBC Web site and select a number of stocks to buy, but hold off on executing those trades. If you made the selection before the close of regular trading at 4 p.m. EST and left your Web browser open, you could execute those trades after hours and still receive the 4 p.m. closing price. For example, if a company whose stock closed at $20 a share rose to $25 in after-hours trading, you could buy the stock at $20, even though it was already worth 25% more (see BusinessWeek.com, 6/8/07, Slide Show: "How to Game CNBC's Stocks Contest"). "
Let's get her hooked up with a mutual fund, and give her $50 million or so to work with, and then see how smart she really is..........
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Old 07-16-2007, 07:49 PM   #20
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I think CNBC is already pretty darn embarrassed about the whole thing...now you wanna make her into the next Peter Lynch?
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