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Note: The Tycoons Quest Days will only count the days of the actual challenge & of trading. Today, 3.12.07, is the 6th day of trading on the CNBC Portfolio Challenge, as nothing happened on the weekend.
Well, last week we had some interesting news that unfolded all within a weeks time frame. It was first heard here at Tycoons Row about the Nancy Beaumont shenanigans. Thanks to all the commentors who uncovered more information on the suspected fraud, gave insights on their trading & provided advice. I had about 15 commentors respond, and its evident that with the 240,000 plus people who have joined the challenge, that the competition is heating up.
This just goes to show that news travels fast in the blogosphere, especially when there is conflict. At this point, I don’t need to go to the major news stations to see what’s happening, because the news is right here at TycoonsRow & the social network that is forming. The news is in the blogosphere, where new-media is becoming the norm. I love this stuff!
So, on for todays news for my Tycoons Quest: CNBC Portfolio Challenge.
Nancy Beaumont from California has taken the lead, & she is currently in the Top 3 positions. It’s been reported that she has invested in on a “Chinese Supermarket Chain.” However, my research states that this chain would have possibly been Daiei, Inc which is a Japan-based company which is in the retail business, focusing on not only supermarkets, but discount & department stores as well as specialty stores.
Here’s an image of the current leaderboard.
Now, Nancy Beuamount has the following rankings: 1st, 2nd, 3rd, 6th & 7th. So I think she’s definitely made the Top 10. Here’s her other rankings, 11th, 12th, 15th & 17th. There has been reports that some bloggers have written letters about this, as well as called in. But nothing has been done & no formal response has been made regarding Beaumont and her “misdeeds.” The question is do we call it misdeeds, because has she violated the rules? Or has she found a loophole?
Now, we also have celebrity traders amongst us who are also playing the game. The celebrities will receive $5,000 towards their favorite charity & that charitable cause will also get an extra $50,000. Here are the celebs:
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Allowing the “Beaumont Advantage” cheats everyone else involved in the game. It also shows how the weekly contests are being gamed. The only traders that will count are those final 10 with the overall highest portfolio. Gamblers may score big for a week, but often they end up in the long run losing more than winning. I suggested at another site that we all create another 4 or five accounts under the name of Nancy Beaumont and flood CNBC with so many bogus Nancy Beaumonts they will be thoroughly sick of it by the end of all this. It would be a great way to protest the Beaumont Advantage being accepted by CNBC. Can you see the outrageous confusion if thousands of new Nancy Beaumonts suddenly appear on their game servers? Can you imagine the fun looking down a list of those to find the “real” Nancy Beaumont? If she can trick the computer trading game and be allowed to, then we can do the same in protest over it. So, everyone, just sign up new accounts each day for a Nancy Beaumont, put in one “hot” stock with high Beta value, and if you do a few each day, by the end of this they will have more than half the names registered be various “Nancy Beaumont”. I can think of no better way to express our outrage to CNBC than to trick Nancy and CNBC back from the other side.
Open as many Nancy Beaumont accounts each day as you have time, and let’s watch the fun and games grow.
Hey Darrin,
Hows the portfolio going? I cant handle this beamont thing anymore? Seems as though a lot of people are very unhappy. I dont have time to dwell on that,it is what it is,instead I will focus on getting to the finals by doing my personal best in 10 weeks of trading. Kinda boring, but I am learning alot.I currently have about 1,320,000. I figure that if I get to the finals with all of these multiple account holders, they shouldnt be hard to beat after all only luck will have gotten them there, and I will have improved my “street savy” but working my butt off for ten weeks. GOOD LUCK……AND PARLAY!!!!!!
DYLAN RADIGAN LAST WEEK SAYING MULTIPLE ACCOUNTS IS CHEATING, WHICH IS CONSISTENT WITH THE PLAIN LANGUAGE OF THE RULES. CHECK OUT THE VIDEO ON YOUTUBE.
CNBC and OptionsXpress are all over the place on this issue.
http://www.youtube.com/watch?v=A9VR77_gzOs
WIKIPEDIA ARTICLES
http://en.wikipedia.org/wiki/OptionsXpress
Mark: Thanks for coming back. I took a big dive in trading. I’m assuming I had some trades that either were put in too late when I did them, or what killed me was New Century Financial. I’ll be reporting on that tomorrow. Also, I’ve found out that some stocks I got were based on bad information. This is another concept I will be writing about. Thanks & Congrats on your $1,320,000. I think that would prove to be pretty high up in this competition. What’s your rank?