Here is the latest status for the portfolio I entered in the CNBC.com Million Dollar Portfolio Challenge. Overall, my long term picks have done surprisingly well in this short term contest.
I entered a portfolio based on the modified Unemotional Investor portfolio which I described in My Stock Picks for Q1 2007. (Disclosure: I closed out this portfolio on March 2, 2007 as described in Q1 Stock Purchases Update - Closed All Positions and I repurchased Avnet (AVT) and C. B. Richard Ellis (CBG) on April 20, 2007. I sold CBG again on May 8, 2007.) In addition, I purchased Google (GOOG) and Golden Star Resources (GSS) which are stocks I like but were not identified by the system. Here is the portfolio status as of the market close on Friday, May 11, 2007.
|Portfolio Opened||March 14, 2007|
|Stocks Purchased||Avnet (AVT)|
C. B. Richard Ellis (CBG)
Golden Star Resources (GSS)
$1,206,000 (top 6% in ranking)
|Gain to Date|
20.6% (12.3 % from bonus bucks)
Overall, I fell pretty good about this portfolio. Without the bonus bucks, the portfolio returned 8.3% for two months. Annualized, that is about a 50% gain per year. I wish my actual portfolio was doing this well:-) Individual stock returns were: Avnet (AVT) - 19%, C. B. Richard Ellis (CBG) - 16%, Golden Star Resources (GSS) - 4%, Google (GOOG) - 4%, and Coach (COH) - 0%.
The top finisher had $4,886, 000 (389% gain!)and the tenth finisher had $3,503,000. Since this portfolio did not end up in the top ten finishers, I will be participating in the second chance contest.
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Photo Credit: CNBC.com
This is not financial advice. Please consult a professional advisor.
Copyright © 2007 Achievement Catalyst, LLC