Seems fitting that after a 700 plus point Dow decline that CNBC would launch their “Win $1 million portfolio” contest.
The contest is ‘perfect’ because it encourages you to make the biggest craziest bet you can so you have a shot of winning over the next lunatic.
If they ran POKER during market hours, people would learn more about money management.
Definately good for ratings though.
They don’t let you buy ETFs. In 2007. I was going to put the whole $1 million in QID.
A lot of people were probably planning on putting it all on their favorite dodgy chinese microcrap ethanol internet biotech stock. I wonder if you can sit in cash for a week and win.
Do they let you buy real estate with the money?
Mark my words. The jerkoff who wins will have put ALL his money in ONE microcap stock for a single trade, at some point in the game.