|
|
Ohio waitress wins CNBC stock picking contest
07-14-2007, 03:45 PM
|
#1
|
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Dec 2003
Location: Losing my whump
Posts: 22,708
|
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.
__________________
Be fearful when others are greedy, and greedy when others are fearful. Just another form of "buy low, sell high" for those who have trouble with things. This rule is not universal. Do not buy a 1973 Pinto because everyone else is afraid of it.
|
|
|
|
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!
Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!
You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!
|
07-14-2007, 03:58 PM
|
#2
|
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jul 2006
Posts: 11,401
|
We should invite her to join the forum!
|
|
|
07-14-2007, 03:58 PM
|
#3
|
Moderator Emeritus
Join Date: Dec 2002
Location: Oahu
Posts: 26,860
|
Quote:
Originally Posted by cute fuzzy bunny
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!
__________________
*
Co-author (with my daughter) of “Raising Your Money-Savvy Family For Next Generation Financial Independence.”
Author of the book written on E-R.org: "The Military Guide to Financial Independence and Retirement."
I don't spend much time here— please send a PM.
|
|
|
07-14-2007, 04:31 PM
|
#4
|
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Dec 2003
Location: Losing my whump
Posts: 22,708
|
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.
__________________
Be fearful when others are greedy, and greedy when others are fearful. Just another form of "buy low, sell high" for those who have trouble with things. This rule is not universal. Do not buy a 1973 Pinto because everyone else is afraid of it.
|
|
|
07-14-2007, 05:20 PM
|
#5
|
Thinks s/he gets paid by the post
Join Date: Jul 2005
Posts: 2,375
|
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....
|
|
|
07-14-2007, 06:33 PM
|
#6
|
Thinks s/he gets paid by the post
Join Date: Feb 2004
Posts: 2,670
|
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.
__________________
No man is free who is not master of himself. --- Epictetus
Enjoy Yourself (It's Later Than You Think). --- Guy Lombardo
|
|
|
07-14-2007, 07:19 PM
|
#7
|
Full time employment: Posting here.
Join Date: May 2006
Posts: 696
|
Quote:
Originally Posted by retire@40
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.
__________________
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
|
|
|
07-14-2007, 08:48 PM
|
#8
|
Recycles dryer sheets
Join Date: May 2006
Posts: 230
|
Quote:
Originally Posted by retire@40
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.
|
|
|
07-14-2007, 09:05 PM
|
#9
|
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Dec 2003
Location: Losing my whump
Posts: 22,708
|
Quote:
Originally Posted by terminator
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'...
__________________
Be fearful when others are greedy, and greedy when others are fearful. Just another form of "buy low, sell high" for those who have trouble with things. This rule is not universal. Do not buy a 1973 Pinto because everyone else is afraid of it.
|
|
|
07-14-2007, 10:11 PM
|
#10
|
Recycles dryer sheets
Join Date: Jun 2007
Posts: 377
|
What was her prize for winning?
|
|
|
07-14-2007, 10:19 PM
|
#11
|
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Dec 2003
Location: Losing my whump
Posts: 22,708
|
[Dr. Evil] One...Million...Dollars...[/Dr. Evil]
__________________
Be fearful when others are greedy, and greedy when others are fearful. Just another form of "buy low, sell high" for those who have trouble with things. This rule is not universal. Do not buy a 1973 Pinto because everyone else is afraid of it.
|
|
|
07-14-2007, 10:20 PM
|
#12
|
Moderator Emeritus
Join Date: Dec 2002
Location: Oahu
Posts: 26,860
|
Quote:
Originally Posted by cute fuzzy bunny
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"). "
__________________
*
Co-author (with my daughter) of “Raising Your Money-Savvy Family For Next Generation Financial Independence.”
Author of the book written on E-R.org: "The Military Guide to Financial Independence and Retirement."
I don't spend much time here— please send a PM.
|
|
|
07-14-2007, 10:25 PM
|
#13
|
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Dec 2003
Location: Losing my whump
Posts: 22,708
|
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...
__________________
Be fearful when others are greedy, and greedy when others are fearful. Just another form of "buy low, sell high" for those who have trouble with things. This rule is not universal. Do not buy a 1973 Pinto because everyone else is afraid of it.
|
|
|
07-14-2007, 11:22 PM
|
#14
|
Full time employment: Posting here.
Join Date: Jun 2007
Posts: 567
|
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.
|
|
|
07-15-2007, 10:00 AM
|
#15
|
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Dec 2003
Location: Losing my whump
Posts: 22,708
|
I know where we can get the monkeys.
__________________
Be fearful when others are greedy, and greedy when others are fearful. Just another form of "buy low, sell high" for those who have trouble with things. This rule is not universal. Do not buy a 1973 Pinto because everyone else is afraid of it.
|
|
|
07-15-2007, 12:50 PM
|
#16
|
Thinks s/he gets paid by the post
Join Date: Jul 2005
Posts: 2,375
|
I think she should start an investment newsletter based on her approach
|
|
|
07-15-2007, 01:30 PM
|
#17
|
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Dec 2003
Location: Losing my whump
Posts: 22,708
|
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)
|
__________________
Be fearful when others are greedy, and greedy when others are fearful. Just another form of "buy low, sell high" for those who have trouble with things. This rule is not universal. Do not buy a 1973 Pinto because everyone else is afraid of it.
|
|
|
07-15-2007, 01:39 PM
|
#18
|
Thinks s/he gets paid by the post
Join Date: Jul 2005
Posts: 2,375
|
Thanks! I'm a big believer in CFB
|
|
|
07-16-2007, 01:21 PM
|
#19
|
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Aug 2006
Posts: 12,483
|
Quote:
Originally Posted by Nords
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..........
__________________
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).......:)
This Thread is USELESS without pics.........:)
|
|
|
07-16-2007, 06:49 PM
|
#20
|
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Dec 2003
Location: Losing my whump
Posts: 22,708
|
I think CNBC is already pretty darn embarrassed about the whole thing...now you wanna make her into the next Peter Lynch?
__________________
Be fearful when others are greedy, and greedy when others are fearful. Just another form of "buy low, sell high" for those who have trouble with things. This rule is not universal. Do not buy a 1973 Pinto because everyone else is afraid of it.
|
|
|
|
|
Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
|
|
Posting Rules
|
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts
HTML code is Off
|
|
|
|
» Recent Threads
|
|
|
|
|
|
|
|
|
|
|
|
|
» Quick Links
|
|
|