Tuesday, May 06, 2008

CNBC Million Dollar Portfolio Challenge - 2008 Contest

CNBC.com is sponsoring another Million Dollar Portfolio Challenge from May 12, 2008 to July 18, 2008. This year's contest will involve trading both equities and currency, starting with $900,000 and $100,000 in fictional dollars for each account respectively. In addition, each player will be allowed five portfolios.

Last year's winner used a strategy of buying stocks just before an earnings announcement, with the expectation of positive results. I plan to use a similar approach in one of my five portfolios this time. Buying low priced stocks is another stock selection method I plan to use. Of course, I will also submit selections from my own stock picking method based on The Unemotional Investor.

To join the fun, sign up at the CNBC.com Million Dollar Portfolio Challenge. Good luck!

For more on Ideas You Can Use, check back every Tuesday for a new segment.

This is not financial or investing advice. Please consult a professional advisor.

Copyright © 2008 Achievement Catalyst, LLC

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