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CNBC Million Dollar Portfolio Challenge - The Airing Of Grievances

The Festivus Pole So, as you're likely aware if you've been playing the game and are at least mildly sentient, the CNBC mock trading platform has encoutnered some, er... technical difficulties.  Currency trading, for instance, got bollocksed up the first day and was promptly torn down by the admins, yet to re-appear.  But even the equity trading has fallen somewhat short of stability (somewhat befuddlingly, as this is the third year of the contest).

Based on the performance rankings, there appear to be 510,000 or so active portfolios, which means there are at least 102,000 registered traders (up to 5 portfolios/trader).  But last year's contest had roughly 220,000 traders at the outset and grew swiftly from there, so the size of this year's user base alone shouldn't present any new tech burdens.

The most common problem I'm encountering is a "Page not found" error (no matter which section of the site I browse to) in the main content frame.  Logging out and back in seems to remedy the error, so it's little more than a mild nuisance.  But a lot of you have been writing in and/or leaving comments about the problems you're encountering, so I thought we'd open up a post devoted to your beefs with the contest.

In addition to the many technical issues (can't view portfolios, can't process trades, trades already entered spontaneously disappear, etc.), we're also welcoming general "fairness" grievances.  The rules are what the rules are, of course, and other than cases of real ambiguity, I'd be surprised if the administrators were to consider reversing something simply because it's a crap rule wreaking unintended consequences.  Still, it can't hurt to let them know you're peeved about certain things.  You're probably not alone.

To wit, one reader e-mails his dissatisfaction with the trivia bonus time window.  These questions (which amount to $12,000 or 1.2% of your initial allocation every day) can only be answered during the day - after each question appears on the site (the last one going up at 3 pm), but before 4 pm, at which point they all disappear.  This is how the rules spelled things out, but it's a fatal disadvantage to anyone who can't be logged in between 3pm and 4pm.  I understand the contest is meant to drum up viewership, both of the shows and the online content, but in an effort to drag people back to the site several times per day, they're likely losing otherwise interested participants who can't simply get online at the right time and know they can't compete without those $60,000 in weekly bonuses.

Whatever bone it is you have to pick, you can plead your case to the admins at
customercare@support.cnbc.com and/or let us know in this thread.  You may find someone else has encountered (and possibly resolved) the same issues.

See all related posts in the CNBC Portfolio Challenge archive.

Handcrafted by Flip on May 14, 2008 |

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Comments

I wrote in and put my two cents in about the bonuses, stating the unfairness of it and having to be online all day. Also that it will not increase viewership of the website or TV shows , because most players will go to a website like this and get the answers. Thanks for you site, I enjoy reading it. Although I may drop out now, because I am one who cannot be online 24/7..lol.. Plus I think I missed the first day of action also..

Posted by: Jaxxman | May 14, 2008 11:43:13 AM

I think it totally sucks they messed up the Currency Trading, I was long YEN on day one at $103 and now it's $105,,,it would have been a nice cushion for my D@MN#D Deere (DE) position I had on for today!!!

Posted by: Jim | May 14, 2008 12:04:33 PM

Hey I like reading your stuff! As of today im in 991st place and im up 3 percent intraday. well see what happends! Moody

Posted by: Moody | May 14, 2008 1:13:14 PM

I like the contest, but I don't expect to win, it's a good idea.. Getting more people involved with the market, but the game is poorly laid out, if anyone had to attempt to invest/trade with these kinds of delays they'd pull all of their money out of the market and never look back.. As it is, it's a lottery ticket you can make educated guesses on, being forced to endure a full day's moves on a position locked in a day prior is rather annoying at best.. I can make decent guesses on the general directions of individual companies, but trying to trade news 48 hours in advance is rather difficult.. *shrugs* I'll continue to play, might even be able to hold onto a top 1k portfolio, but unless I get very lucky on one of my pure lottery ticket portfolios I doubt I'll win.. Think I'll stick to day-trading and long-term investments to make my money, this contest is a joke, too short to be an investment contest and the moves last too long to be a trading contest.. It's just a lottery with a cheaper ticket..

Posted by: Random | May 14, 2008 1:22:45 PM

I'm playing for fun, since I'm quite certain there is no way I'm going to be able to actually win. The "page not found" is rather annoying, especially when I was trying to get my *first* order in. The "trades only execute at 4PM" aspect is definitely a little weird - I see no reason why they shouldn't have the technology to be able to have trades during the day. But, it's made me rethink some strategy, which isn't a bad thing. Both my ports are up, so I'm off to a nice start. Wouldn't it be nice just to have $1M to invest with for real?

Posted by: Cindy | May 14, 2008 2:05:30 PM

have a way to remember your password on cnbc contest

Posted by: gene | May 14, 2008 2:33:07 PM

I am stumped as to how the contest could have gotten worse in its administration from last year. They have implemented lots of creative bad ideas. My top 3 are 1. You can't choose how many stocks to purchase, only a percentage? Mouse moving dexterity is now a factor. 2. Who wants to be forced to place currency trades? Great if that is an option, but how many stock traders want play forex? 3. Allowing only 25% of your portfolio to be allowed in one stock cramps my style.

Posted by: Jacqueline Cole | May 14, 2008 2:50:30 PM

I love this contest. Now I am hooked on CNBC (both TV and web). CNBC has fixed the worst thing about last year's contest: multiple accounts based on multiple email adddresses. There are still two things that MUST be corrected... (1) The slider bar. Maybe it's just JAVA on my pc, but accuracy is difficult at best. (2) Bonus bucks. Anyone can google to find sites with the exact questions and answers. Maybe it's okay to "cheat" because it shows ingenuity.

Posted by: David | May 14, 2008 4:17:43 PM

OK, seriously, it's past 8PM and they still haven't managed to do the mark to market by now?? As for the trivia questions, I have to think they know everyone will google for the answers - at least a few of them were based on interviews from April, and frankly, I doubt I'd remember those kinds of specifics unless I'd acted on them.

Posted by: Cindy | May 14, 2008 8:18:31 PM

IIRC, last year the portfolio values for a given close didn't usually adjust until the next morning. Incredibly, that translates to up to 2.5 days before you see the results of your trades (e.g. submit buy order Monday night, trade is processed at Tuesday's close, stock's Wednesday move is first to hit your portfolio, Wednesday's move is reflected in your portfolio on Thursday morning).

Posted by: Flip | May 14, 2008 8:46:58 PM

I really enjoy reading your stuff..thanks! I'm playing the "lottery" game w/ CNBC in hopes of learning more about trading...no hopes of actually winning. I have a very stupid question for anyone interested. Look at a daily chart of RTN on 5/14...at 12:09...there is a HUGE lower shadow on the candle. What causes a shadow this long? Thanks. Good luck to everyone playing!

Posted by: Erin | May 14, 2008 10:33:14 PM

In response to Erin, while I'm no expert on charts, and generally I don't even look at the candlestick charts, as I understand it the shadow represents the trading range for the stock.. So how long or short said shadow is is simply a reflection of how high/low the stock has traded on any given time period.. On intraday charts these can get rather confusing as the stick will spike sharply if something happens that drops the stock, like a bad bit of news that spikes the stock price.. While I don't have a candlestick of RTN infront of me atm, judging by the line chart of the price it looks like there was a pretty sharp decline in share price around the time you're talking about, followed almost immediately by a V shaped jump back above where it began, resulting in a price that fluctuated radically in around an hour time period, and closed higher, which probably is pretty close to the candlestick you're looking at... As for what causes those types of movements, could be anything from a rumor floating around, to someone suddenly dumping a large position of stock.. I'm not seeing any significant news for RTN yesterday so more than likely nothing to worry about in the long term, and only a mild hiccup short term, atm I'm not watching RTN closely so I won't say there's no problem there, but these things happen sometimes.. Hope this helps, and good luck in the CNBC lottery..

Posted by: Random | May 14, 2008 11:47:32 PM

The Million Dollar contest. How do you sell a stock and purchasr another? Please call me on my cell phone (410-xxx-xxxx).

Posted by: Lloyd Thacker | May 16, 2008 1:16:30 PM

So much for a fair contest. After a week of small program glitches I accessed my portfolios at 3:30 PM on Friday, May 15th. After selling some of my stocks I got a computer error message that my portfolios were not found. Despite many tries I was unable to access my portfolios before 4:00 PM and have no idea what trades were completed and I was unable to buy any stocks for Monday's trading. This year's contest involved too many changes in the contest program and they obviously did not test it thoroughly nor provide adequate server capacity.

Posted by: Dennis | May 16, 2008 4:36:51 PM

Dennis - this seems to have happened to a lot of people today (see here). I'm waiting to hear back from CNBC about it.

Posted by: Flip | May 16, 2008 4:42:52 PM

I enter into the third week doing ok with stock I picked the first day but since second day of playing, no matter what time I try to trade 24/7, it won't let me trade one. The edit button is greyed out. Tried like every hour for a few days and never will let me.

Posted by: Mark | Jun 5, 2008 10:41:05 AM

If I had to do this every day or try to do this for a living I would be a crazy person........... I was playing with your portfolios and the birthdays.HA! Big mistake I will never recover! But then again my portfolio I personally picked is entirely red today and those you picked are green. I love doing this I just wish it was winter instead of summer so we wouldn't have to miss the great outdoors........ Thanks Suzy

Posted by: SUZY | Jun 11, 2008 11:30:10 AM

I am new and want to find out hoe to sell stocks

Posted by: Richard Williams | Jul 8, 2008 12:18:34 PM

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