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reddingrunner (95.29)

Buy&Hold: Smarter than the average bull.

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June 01, 2007 – Comments (2)

I joined in Smart Money's little stock market game that just ended after a five week run.  You only got to pick from 40 stocks, most of which I'd never heard of.  From the 18 whose names I recognized ("'Crocs,' don't they make shoes or something?") I picked 8 that sounded good (no research).  

You were allowed to switch stocks regularly but I decided to see how a buy-and-hold strategy would fare (if you dare call five weeks a "hold"!). I made my picks and walked away.  I knew I wouldn't win, some active traders would get lucky, just like if enough people roll dice 35 times, someone is going to roll higher than average scores, but I couldn't win that type of game anyway.

Results?  I finished 110th out of nearly 1800 players with 195 points (the winner had 283), top 8% or so.  It wasn't quite the blind-folded monkey strategy, but close.

Umm, gee... I wonder if there is a lesson in here somewhere?

2 Comments – Post Your Own

#1) On June 01, 2007 at 2:32 PM, EPS100Momentum (72.48) wrote:

The Active trader can make 100x his money using margin. But can also lose it all quickly.

 An  example is the wBeat the Street contest that just ended with a chance to win real 100k prize to winner.

 You started with 100k and margin 100% of ur money. 

One active trader turned 100k into Billions in just 50 days! That was pretty impressive.

I thought I had a shot until I saw him doubling his money daily.

I finished 36th place out of over 25,000 players. 

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#2) On June 01, 2007 at 4:29 PM, reddingrunner (95.29) wrote:

Very impressive (both of you!).  I don't know how to play that kind of game and don't plan to learn! (It would just get in the way of my life).

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