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CNBC Portfolio Challenge Results - Week #1

March 11, 2007

After the first full week, our portfolio was up a total of $120,000*. That is a 12% GAIN in a week that was rather volatile. There were a few losers, but the worst was a 3% overall loss on Heely’s (HLYS) when it took a $3 plunge on an earnings disappointment. The best gain was a $61,000 profit from Chicos FAS which showed a better than expected earnings report for the quarter.

I have said that the contest is part luck and a smidgen of skill as the “investors” cannot sell a position intra-day and all buys and sells are done at the close of the market day - 4 pm. Even so, the strategy of looking for overnight moves paid off and took the portfolio up nicely and earned us a ranking of #1992, or the TOP 1% of all portfolios. (There are well over 250,000 entrants for the first week.)

Next week, we will continue with the same strategy and see how it plays out.

 

 

Week1 CNBC Challenge Results

 

*Gain = $118,270 plus $2,000 bonus

 

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Written by Andrew Horowitz · Filed Under Long Ideas, Markets 

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