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#1 |
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Give me a museum and I'll fill it. (Picasso)
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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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Many an optimist has become rich by buying out a pessimist |
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#2 |
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Thinks s/he gets paid by the post
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Posts: 1,645
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We should invite her to join the forum!
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#3 | |
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Moderator Emeritus
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No such thing as bad publicity-- this one's going into the Marketing Hall of Fame!
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#4 |
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Give me a museum and I'll fill it. (Picasso)
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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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Many an optimist has become rich by buying out a pessimist |
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#5 |
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Thinks s/he gets paid by the post
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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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#6 |
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Thinks s/he gets paid by the post
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Posts: 2,597
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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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No man is free who is not master of himself. --- Epictetus Enjoy Yourself (It's Later Than You Think). --- Guy Lombardo |
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#7 | |
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Full time employment: Posting here.
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Quote:
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Oh, you hate your job? Why didn't you say so? There's a support group for that. It's called EVERYBODY, and they meet at the bar.--Drew Carey |
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#8 | |
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Recycles dryer sheets
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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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#9 | |
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Give me a museum and I'll fill it. (Picasso)
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Quote:
Especially if we get to pick the 'patients'...
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Many an optimist has become rich by buying out a pessimist |
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#10 |
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Recycles dryer sheets
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What was her prize for winning?
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#11 |
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Give me a museum and I'll fill it. (Picasso)
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[Dr. Evil] One...Million...Dollars...[/Dr. Evil]
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Many an optimist has become rich by buying out a pessimist |
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Moderator Emeritus
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"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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#13 |
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Give me a museum and I'll fill it. (Picasso)
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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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Many an optimist has become rich by buying out a pessimist |
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#14 |
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Recycles dryer sheets
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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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#15 |
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Give me a museum and I'll fill it. (Picasso)
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![]() I know where we can get the monkeys.
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Many an optimist has become rich by buying out a pessimist |
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#16 |
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Thinks s/he gets paid by the post
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I think she should start an investment newsletter based on her approach
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#17 | |
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Give me a museum and I'll fill it. (Picasso)
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Love your blog Dan...
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Many an optimist has become rich by buying out a pessimist |
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#18 |
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Thinks s/he gets paid by the post
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#19 | |
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Give me a museum and I'll fill it. (Picasso)
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Quote:
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Consult with your own advisor or representative. My thoughts should not be construed as investment advice. Past performance is no guarantee of future results (love that one).......:) |
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#20 |
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ... ![]() ![]() ![]() ![]() ![]() ![]() ![]() Join Date: Dec 2003
Location: Losing my whump
Posts: 22,527
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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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Many an optimist has become rich by buying out a pessimist |
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