Monday, July 28, 2008

You Win Some, You Lose Some....

The past two weeks have been a little nuts. Two months ago John joined the CNBC stock challenge. They give you a fake 1,000,000 to invest and then have great prizes for weekly winners and overall finishers. So at about week 3 John was bragging about being in 1200th place. Joe (my brother-in-law) and I got a great laugh out of his "bragging rights." Then in week 4-5 he was in ~400th place - I wish we had been more supportive, but we were still laughing at him. If you get 400th place in a 5K or marathon you probably walked most of the way - I guess we are hard to impress. At that point he declared that if he won anything (the top price was a cool $500,000) he wasn't giving us anything. When he got to 63rd place we thought we should probably stop making fun of him. Then came 18th place, 11th place, 10th place, 6th place. You see where this is going - the Wednesday before the end of the game - 1st freakin place. NBC contacts him and asks him to fill out a mound of paperwork - could it really be?!
The story unravels from here - John made a statistically great decision with the money - the market had other plans. The winner made 700 trades in the last four days of the game. He is a professional musician - which obviously translates into "time on your hands." So, no cash prizes for the Collins household - but John finished up in 13th place out of 750,000 - so that was pretty amazing. He made a crazy 163% on his money! Oh well - you win some, you lose some. We are proud none-the-less.

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