Suitably Flip

CNBC Million Dollar Portfolio Challenge - Tuesday, Week 6

For answers to the most recent Bonus Bucks trivia questions, click here.

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Bonus Bucks for Tuesday, November 1 (the ones posted Monday night).

1. According to the Bank of England, how many mortgage approvals took place in the United Kingdom in September?
A. 50,967

2. What is the net worth of Asia-Pacific's richest family, the Ambanis, founders of India's Reliance Industries.
C. $37.6 billion

3. Why does Uwe Parpart think Japan's strength as an industrial society is fading on the international stage?
D. Over regulation

And we have our first look at the leaderboard, post-reset.  Looks like a nice reasonable distribution, with the top gainers netting 6-8%, ex-Bonus Bucks.  But boy is there an outlier.  Ted Hamilton of Birmingham, Michigan jumped a whopping 28.5% on the first day of the reboot.  That's 3.5x the gain put up by his nearest competitor.

Did he catch something we all missed?  Or is a glitch still afoot?

Hamilton's gains came almost entirely from currency trading (he nearly quadrupled his $100,000 in a day), so if something's amiss, it's not the same something that was tripping up equities before the reset.

I don't think I'm out on much of a limb in saying something doesn't smell right.  Expect to see this one reversed when all is said and done.

Forget the $10 million portfolio values we saw at the end of Week 5.  If Ted can maintain 278% daily gains in his currency portfolio, he'll surpass $77 million by Friday and $27 trillion by the end of Week 10.

Update:  FWIW, Ted appears to be a software engineer.  I've reached out to ask for any insights into his monster day / clerical error.  Will update with any clarity that yields.

Update:  Looking a little more closely at the currency leaderboard, we see that it was a day of unusually lofty currency gains.  Hamilton was still a remarkable outlier, but all 20 made more than 40% in their currency portfolios. We haven't see anything like that before.  But the multiple currency rocketeers suggests this might simply reflect the kind of gains achievable amid today's crazy forex action, rather than another glitch.  The dollar-yen pair moved more than 3% (which becomes 30% thanks to the 10:1 currency leverage), which makes 40% in a day begin to sound feasible.  And 287% begins to seem... well, potentially fathomable.  Perhaps.

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Archive:  CNBC Portfolio Challenge 2011

CNBC Million Dollar Portfolio Challenge - Monday, Week 6

For answers to the most recent Bonus Bucks trivia questions, click here.

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They're baaaack...

Bonus Bucks for Monday, October 31 (the ones posted Sunday night).

1. What European head of state last week told UK prime minister David Cameron that he was "sick of you criticizing us and telling us what to do"?
B. Nicolas Sarkozy

2. What wealthy Southeast Asian family has a majority stake in Wilmar International, the world’s largest publicly-listed palm oil company?
C. Kuok Family

3. How many Tweets per second were sent when Beyonce revealed her “baby bump” on August 28?
C. 8,868

The only additional commentary we have from CNBC on the nature of the glitch is this:

We have corrected the equity trading issue and all trades will now correctly execute based on the next last-sale price as stated in the rules.

Make of that what you will.  My best guess, all things considered, is that the "glitch" basically boiled to down a slight time lag, whether that was the result of the CNBC quote stream actually lagging 3rd party real-time quote services (allowing players to front-run the contest, playing with a crystal ball with a couple seconds' visibility) or the result of an actual software glitch that caused trades to be matched at the last last-sale price, rather than the next last-sale price - not quite as valuable an advantage, but certainly a repeatedly exploitable glitch, particularly with foreign-traded penny stocks or beaten down stocks like Eastman Kodak.

If it was an actual lag problem, I wouldn't presume the resolution involved speeding up the system, when a nearly equivalent fix would be simply to impose a few second delay on every trade processed.  So it should be apparent rather quickly if that's what's happened.  And based on what we've heard from the multiple top tier leaderboard dwellers who've recounted their methods on this site (including at least a couple who didn't realize they were exploiting any kind of glitch), it seems more likely that the problem was in the actual matching engine (last last sale vs. next last sale), which would strongly favor penny stock day traders, trying to capture 1-2 cent swings, dumping every time it ticks up (even if it only catches a single tick, a last last sale matching algorithm would give you credit for the gain).

Anyway, whatever what went wrong is ostensibly remedied, so feel to avail yourselves with great abandon of the volatile, the beaten down, the leveraged, and the foreign-listed, without fear of being summarily disqualified.  We're assured that the "exploit" is no longer achievable, thanks to whatever software patching they've undertaken.  While they haven't seen fit to spell it out for us and we're thus to trust in their patchwork, it stands to reason that we can on similarly blind faith accept that inadvertent or nebulously proscribed cheating is now literally impossible, since the as-yet undefined, erstwhile exploitable glitch is no longer.

Good luck to everyone in the next five weeks.  If you've answered the above questions (and assuming you got the early registration bonus), you're currently tied for 1st place.  Kudos.  Try not to blow it this time.

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Archive:  CNBC Portfolio Challenge 2011

CNBC Million Dollar Portfolio Challenge - Friday, Suspension Week

Your suspension is nearly at an end, traders. They've begun to reset the equity portfolio values (though you may have noticed not all of the fields yet reflect the reset values, nor have the currency accounts yet been reset).

CNBC hasn't given any further clarification of the nature of the "glitch" or how it was being exploited, which others have rightly noted leaves us in a bit of a pickle if we want to ensure we don't exploit it ourselves.  We haven't even been informed whether the technical glitch itself has been resolved, or whether we're just to reacquaint ourselves with the rules and try our best to interpret them within the ever-nebulous "spirit of the contest" to ensure we don't run afoul of it.  We still have more than 48 hours until trading resumes.  It'd be great if CNBC could settle some of this.

A few have pointed out this clause in the rules.  I can't say for sure whether this was added this week, but I definitely don't recall seeing it before:

19.                Participant Behavior:
...
Participants agree not to trade or cause others to trade the actual equities (or options) of the companies included in their Contest portfolios, within five (5) trading days of the effective date of a trade of such Equity within the Contest.

Of course, this doesn't mean you have to hold a stock in the MDPC for a minimum of 5 days - just that you can't go out there and manipulate the real-world price of the stock, just before or after you buy or sell it in the contest.  If this is a change, it seems like one of the less crucial ones, as market manipulation was already explicitly forbidden.  But maybe one or more of the irregularties they found did involve such behavior (whether with the ASX penny stocks, as theorized here) or elsewhere.  If so, that wildly differs (both in methodology and seriousness) from our understanding of the "exploitation" method that brought everything to a halt.

Even that method (which was less egregious, per our understanding, than real-world market manipulation would be) was deemed to be straight-up cheating by nearly 60% of you who participated in our poll.  22% thought the rules concerning exploitation were too ambiguous and 18% said the alleged exploiters got a bum rap.

Update:  Commenter Jay indicates the 5-day rule was indeed in the original rules, suggesting there may not have been any rule changes since the suspension, and debunking the suspicion cases of real-world price manipulation triggered the reset.

Previously:
Tuesday, Suspension Week
CNBC Million Dollar Portfolio Challenge - Monday, Suspension Week
MDPC RESET!
Friday, Week 5; Update: Leaders Reveal Their Secrets

Full Archive:  CNBC Portfolio Challenge 2011

CNBC Million Dollar Portfolio Challenge - Tuesday, Suspension Week

Apparently there will be no further Bonus Bucks to tide us over, but reader WEC had a fine idea in an earlier post's comment thread, namely to poll the readership on whether the "glitch" "exploiters" were indeed cheating.

I won't bother rehashing the arguments for and against.  Instead, check out these two posts and their respective comment threads for endless discussion thereabout (or Friday's installment for the post that appears to have sparked this whole $#!&storm).  You might also re-read sections 17 and 19 of the contest rules for the official discussion of contest exploitation and modification.

Previously:
CNBC Million Dollar Portfolio Challenge - Monday, Suspension Week
MDPC RESET!
Friday, Week 5; Update: Leaders Reveal Their Secrets

Full Archive:  CNBC Portfolio Challenge 2011

No Confidence, No Credit, No Problem!

Accept the programming.  Things suddenly are all better.  Avert your eyes from the data.

Consumer confidence plunged to 39.8 this month from 45.4 in September, the Conference Board reported.

Economists had expected a slight improvement to 47.

All of these numbers — this month’s, last month’s, and the forecast’s — are bumping along near the worst numbers ever recorded in this series.
...
This was the lowest confidence reading since March 2009. In history dating back to 1967, confidence has only been lower during the worst months of the 2008-09 crisis.

Stocks took a brief break from their inscrutable rocket ride to wallow in the number, then resumed creeping curiously upward.

FoxNews.com Live 9-10

I'll be on FoxNews.com Live Monday from 9-10 am.  Topics TBA in the morning, but I imagine they'll include Gaddafi, Cain/Romney/Perry, and maybe some jazz about the economy.

If you miss it live, catch the replay at the link until 8 am Tuesday (dial the reel back to 00:00).

CNBC Million Dollar Portfolio Challenge - Monday, Suspension Week

Um, okay... I wasn't really expecting a fresh batch of Monday questions, given the weeklong hiatus.  But there they are nonetheless, so we may as well answer them.

(In the meantime, Bonus Bucks writers, call your office.)

And you, noble trader, answer at your own risk!  You wouldn't want the contest admins to decide you'd been grubbing ill-gotten Bonus Bucks outside of regulation play and force another reset.

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Bonus Bucks for Monday, October 24 (the ones posted Sunday night):

Concerns have recently come to a head about the effectiveness of UK consumer product regulation, following a series of fires determined to have been caused by what kind of appliances?
A. Freezers

The Royal Bank of Scotland expects Asian stocks to fall by how much over the next three months?
B. 15-20%

How many Tweets per second were sent when Beyonce revealed her “baby bump” on August 28?
C. 8,868

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Previously:

MDPC RESET!
Friday, Week 5; Update: Leaders Reveal Their Secrets

Full Archive:  CNBC Portfolio Challenge 2011

CNBC Million Dollar Portfolio Challenge - RESET!

Ho. Ly. Crap.

CNBC has announced that due to a "glitch" in the system, they're suspending trading until October 30, at which point all portfolios will reset to $1 million, and trading will resume for the final 5 weeks.  Weekly winners from week 1-5 will keep their vacation prizes, but other than that, we're all back to the starting gate.

In case you missed it, Jam and Mr. Anonymous offered up some secrets of the leaderboard on this site earlier today, revealing what some decried as a shady, borderline-against-the-rules method, which they'd used to post gains as high as 800% over the last 5 weeks.  As I noted in that thread, I don't see the method as cheating, even arguably.  As I understand it, it simply exploits a well-documented simplification in the game mechanics (trades are booked at the last trade price, not the bid or ask price) that CNBC chose to adopt and make known in the official rules.  Unless there's more shadiness to the method than I've been made aware, I don't see why this should have resulted in the suspension of the game.

Then again, it could just be coincidence that this was made public on this forum today and they suspended the game today.

But I tend to doubt it.  At least 3 people from NBC Universal visited this site at least 13 times between 3:00 and 5:15 pm (around the time the announcement was made), usually landing on the previous post, in which the method was discussed.  If any such personnel happen upon this post and care to comment (Was this exploit the so-called "glitch"? Was the method deemed cheating? If so, are those who used it banned? If not, then why the suspension of trading and reset of portfolios?), please feel free, either in the comment thread or via email.

More as it unfolds.

Update:  Finally found this official announcement.  Why it doesn't appear on the MDPC site, I can't say.

Portfolio Challenge Suspended for One Week

Trading in CNBC's Million Dollar Portfolio Challenge was suspended as of close of trading today at 4:00 p.m. ET for one week.

It came to our attention that there was a technical glitch in the current trading system, which a handful of players found and exploited to jump to the top of the leaderboard. The contest accidentally allowed what our rules specifically prohibited.

Out of fairness to all registered contestants and as is our right, according to the rules of the contest, we are suspending the contest and will restart it Sunday, October 30 at 5:00 p.m. ET. Upon relaunch, all player accounts will be reset to their opening balance. Play will begin anew for the final five weeks of the contest. All winners from the first five weeks, including this week, will retain their prizes.

We apologize for any inconvenience, but fundamental fairness compels us to take this action.

For the persnickety, here's the relevant section of the Rules:

17.  Contest Modification:
...
CNBC reserves the right to cancel, modify, or suspend the Contest or any element thereof (including, without limitation, these Official Rules) without notice in any manner and for any reason including, without limitation, if (i) viruses, bugs, unauthorized human intervention, fraud, technical failure or other causes which may corrupt or affect the administration, security, fairness, integrity or proper conduct of the Contest; or (ii) earthquake, flood, fire, storm or other natural disaster, act of God, labor controversy or threat thereof, civil disturbance or commotion, disruption of the public markets, war or armed conflict (whether or not officially declared). 

CNBC and its representatives reserve the right to make changes to the Site, any elements of this Contest, or the Rules at any time with or without notice. CNBC further reserves the right to terminate, postpone, suspend, amend or modify the Contest for any reason, in the sole discretion of CNBC. Notice of such cancellation, modification, or suspension will be posted on the Site.

CNBC's certainly within their rights; they give themselves pretty broad license to do whatever they like.  I just think it was a bad call (assuming the glitch/exploit/whatever was no more exotic than what Jam and Mr. Anonymous outlined).  The game had a flaw.  Not an unknown bug or short-circuit or "glitch," to use their word, but a deliberation approximation of real world conditions deemed necessary by the game's designers (in favor of trade processing efficiency, presumably) that users found a way to turn to their advantage, without breaching the rules.

A lot of people felt the game became unfair because of the runaway scores, but the method was no less available to them than to those who found and employed it.  Still, in pursuit of the slippery concept of fairness (and also, to be blunt, assuredly in pursuit of recapturing the monetizable participation of hundreds of thousands of de facto dropouts), CNBC chose neither to accept the suboptimal consequences that their simplification had wrought, nor to truly own the opposite path, brand the exploiters as cheaters, ban them, and warn copycats of similar treatment, but to slink down a middling road, pretending the simplification was an inadvertent bug and torching the entirety of the contest to date.

Alas.

Update:  Since a number of my dear readers respectfully differ with me on this, let me throw out a blanket caveat.  My take depends crucially on the idea that we now thoroughly understand the special method.  If, contrary to current understanding, it turns out there was more to it - if, say, there really was a software glitch, whereby you can effectively trade slightly in advance of the CNBC reflecting a one-tick move visible on a 3rd party streaing quote provider (or any similar true "glitch" that enabled users to knowingly gin up false gains, clearly beyond the parameters so clearly delineated in the rules) - then not only was it an exploit, it was genuine cheating.  And not only should the contest be rebooted, but the perpetrators should be booted, if not worse.  So far, I don't know anything like that to be the case.  The method, as described to us earlier today, does not fit that description.

Either way, one clear obligation CNBC now has is to tell us what the problematic trading behavior was, why/how it violated the rules, and how (if at all) the mechanics or rules have been altered going forward to clarify what's permissable and what's not.  With $1 million at stake, it's not enough to sketch broad strokes with multiple potential good faith interpretations and admonish people to abide by the spirit of those rules.  They need to be unmistakable and unambiguous and then we all (including CNBC) need to live with them, even if it turns out they constitute a flawed game that bears little resemblance to real-world trading.

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Archive:  CNBC Portfolio Challenge 2011

CNBC Million Dollar Portfolio Challenge - Friday, Week 5; Update: Leaders Reveal Their Secrets

For answers to the most recent Bonus Bucks trivia questions, click here.

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Bonus Bucks for Friday, October 21 (the ones posted Thursday night).

1. The Marco Polo Pure China Fund is down by how much year-to-date?
D. 25%

2. What did the unofficial U.S. “misery index” do for September?
A. Rose to 13.0, highest since 1983

3. Miner Anglo American said on Thursday that its third-quarter copper production dropped by 9 percent. Where is Anglo American's flagship Los Bronces copper mine?
A. Chile

Want to know how the folks atop the leaderboard are putting up such consistently huge gains?  Check out the comment thread.

Update:  Holy crap.

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Archive:  CNBC Portfolio Challenge 2011

CNBC Million Dollar Portfolio Challenge - Thursday, Week 5

For answers to the most recent Bonus Bucks trivia questions, click here.

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Bonus Bucks for Thursday, October 20 (the ones posted Wednesday night).

1. Which of Rupert Murdoch's four children once ran a television production company called Shine that was acquired by Murdoch's News Corp. in April?
B. Elisabeth

2. According to CNBC.com’s table of earnings surprises, how did Abbott Laboratories’ most recently reported earnings per share number compare to the consensus estimate?
C. EPS was one cent above the estimate

3. Which publicly listed company has the world's largest workforce?
D. Wal-Mart

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Archive:  CNBC Portfolio Challenge 2011

Fox News Live Rewind

Here's a clip from yesterday's show, in which we contemplate Obama's latest campaign "policy" bus tour.

CNBC Million Dollar Portfolio Challenge - Wednesday, Week 5

For answers to the most recent Bonus Bucks trivia questions, click here.

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Bonus Bucks for Wednesday, October 19 (the ones posted Tuesday night).

1. China's economy is expected to grow at what rate in 2012, according to the China Market Research Group?
B. 8.5%

2. Which college dropout went on to create on of the largest social networking websites with an estimated worth of $100 billion?
C. Mark Zuckerberg

3. According to a CNBC.com analysis, compensation for financial sector CEOs is what percentage of the companies’ earnings before taxes?
B. 0.21%

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Archive:  CNBC Portfolio Challenge 2011

CNBC Million Dollar Portfolio Challenge - Tuesday, Week 5

For answers to the most recent Bonus Bucks trivia questions, click here.

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Bonus Bucks for Tuesday, October 18 (the ones posted Monday night).

1. How did real estate agent Bret Parsons characterize the decor of actor Nicolas Cage's foreclosed mansion in Bel Air, California?
C. "Frat house bordello"

2. What word did analyst Anthony DiClemente use on CNBC to describe Google's cash hoard?
B. "Astonishing"

3. The Ernst & Young ITEM Club, which bases its quarterly growth report on finance ministry models, cut its forecast for the UK gross domestic product increase. What is the ITEM Club's new prediction for UK growth for this year?
C. 0.9% growth

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Archive:  CNBC Portfolio Challenge 2011

Belated: FoxNews.com Live 9-10

I was on FoxNews.com Live this morning with host Jamie Colby, talking about the economy, Occupy Wall Street, and presidential politics.  You can catch a replay of the whole hour at the link (rewind the reel to 00:00) until Tuesday at 8 am.

CNBC Million Dollar Portfolio Challenge - Monday, Week 5

For answers to the most recent Bonus Bucks trivia questions, click here.

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Bonus Bucks for Monday, October 17 (the ones posted Sunday night).

1. The seventh most emptiest US City is:
C. Dayton, OH

2. The domestic gross of the remake of Conan The Barbarian was:
C. 21.3 million

3. Property prices in Beijing fell by how much in August, according to Daiwa Capital Markets.
A. 2.3%

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Archive:  CNBC Portfolio Challenge 2011

Belated: FoxNews.com Live 9-10

I was on FoxNews.com Live this morning, mainly discussing Herman Cain.  If you missed it, you can catch a replay of the whole hour here until 8 am Friday (rewind the reel to 00:00).  Or you can enjoy the clip below and spare yourself the burden of futher browsing.

CNBC Million Dollar Portfolio Challenge - Friday, Week 4

For answers to the most recent Bonus Bucks trivia questions, click here.

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Bonus Bucks for Friday, October 14 (the ones posted Thursday night).

1. In the third quarter of this year there were 284 Initial Public Offerings. The Asia Pacific region accounted for what percentage of these IPOs according to Ernst & Young?
C. 57%

2. The UK trade deficit for August, which analysts expected to swell to
8.8 billion pounds, ended up contracting instead. What did it fall to?
A. 7.768 billion pounds

3. For what company is Anna Anisimova the “daughter heir-apparent?”
B. Coalco International

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Archive:  CNBC Portfolio Challenge 2011

CNBC Million Dollar Portfolio Challenge - Thursday, Week 4

For answers to the most recent Bonus Bucks trivia questions, click here.

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Bonus Bucks for Thursday, October 13 (the ones posted Wednesday night).

1. In CNBC.com’s Scenes from the ‘Occupy’ Protests slideshow, what is written immediately below the “We Occupy Boston” sign?
B. “End Corporate Greed”

2. The number of unemployed in Britain jumped on Wednesday. When did the jobless rate, now at 8.1 percent, last high such highs?
D. October 1996

3. Which country in Asia Pacific is expected to cut interest rates when its central bank meets next, according to AMP Capital Investors.
C. Australia

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Archive:  CNBC Portfolio Challenge 2011

CNBC Million Dollar Portfolio Challenge - Wednesday, Week 4

For answers to the most recent Bonus Bucks trivia questions, click here.

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Bonus Bucks for Wednesday, October 12 (the ones posted Tuesday night).

1. According to NFLShop.com, what was the third best-selling NFL jersey between April 1 and September 30, 2011?
B. Michael Vick, Philadelphia Eagles

2. How much did Huijin - a unit of China's sovereign wealth fund - spend on buying shares of the 'Big Four' Chinese banks, according to an analyst at Mizuho Securities Asia.
C. $31 Million

3. The Bank of England has said it will buy UK government bonds or gilts again. But which assets will the Bank of England not buy?
C. Corporate Bonds

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Archive:  CNBC Portfolio Challenge 2011

CNBC Million Dollar Portfolio Challenge - Tuesday, Week 4

For answers to the most recent Bonus Bucks trivia questions, click here.

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Bonus Bucks for Tuesday, October 11 (the ones posted Monday night).

1. Which are the world's top three most polluted countries?
B. Mongolia, Botswana, and Pakistan

2. What is Aviva's exposure to Spanish government debt?
B. 300 million pounds

3. Siemens' Peter Solmssen tells CNBC his company has _______ job openings in America that his company is having trouble filling.
D. 3000

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Archive:  CNBC Portfolio Challenge 2011

CNBC Million Dollar Portfolio Challenge - Monday, Week 4

For answers to the most recent Bonus Bucks trivia questions, click here.

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Bonus Bucks for Monday, October 10 (the ones posted Sunday night).

1. Which economist believes the United States is now in a "modern-day depression?"
C.  David Rosenberg at Gluskin Sheff

2. Household spending accounts for what portion of the UK economy?
C. Two-thirds

3. Which tech executive or entrepreneur said Steve Jobs had spent time offering him advice and knowledge "even though he was not at all well?"
D. Larry Page

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Archive:  CNBC Portfolio Challenge 2011

On "Teenage Self-pity and Hipster Narcissism"

Brendan O'Neill takes a look at The New York Times fashion section's unintentionally comical feature on the hautest of "Occupy Wall Street" couture.

Previously grasping at cohesive, coherent aims "demands," the now more overtly aimless throng of malodorous enlightends is finally finding its voice.

Apt unofficial spokeswoman Marissa Mickelberg (an NYU student of - yes this is a thing - "performance theory") neatly captured the mood when asked by the Times what had called her to the cause of fighting... whatever they're supposedly fighting.

“I like the use of public space as a performative realm and I like the combination of bodies in space. I think it makes a statement.”

Most of the feature is dedicated to actual hipster garb and it's probably shy of shocking that it's mostly 90s grunge throwback, Doc Martens, proudly borrowed crap with holes in it, the occasional clown, and vintage, vintage, vintage, thrift store, and did I mention my shirt is totally vintage - here, smell it!

Go ahead and click through the slides.  They're good for a chuckle.

(Via Patrick Young)

On That "Good" Jobs Number

The employment headline looks good better than expected this morning.  103,000 jobs created in September, versus expectations of 60,000.  And August's zero was revised up to 57,000.  The unemployment rate didn't fall from 9.1%, but at least it didn't rise further.

But there's a lot of noise in these numbers.  Ed at Hot air notes that the 103,000 includes the return of 45,000 telecom workers who were on strike in August.

So while the updated data are better across the board than the unrevised prior months' numbers and the September consensus (red vs. blue lines below), normalizing August and September for the strike (green line) paints a different picture.  It not only shows September job growth slightly below expectations, but it betrays a much uglier trend - not a rebound, but a swift and steady decline in job growth in recent months.

CNBC Million Dollar Portfolio Challenge - Friday, Week 3

For answers to the most recent Bonus Bucks trivia questions, click here.

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Bonus Bucks for Friday, October 7 (the ones posted Thursday night).

1. The Bank of England on Thursday said it voted to boost its asset purchase program by 75 billion pounds ($114.8 billion) to a total of how many pounds?
A. 275 billion pounds

2. Goldman Sachs cut its 2011 GDP growth forecast for Australia. What is its new forecast?
A. 1.5%

3. The Bank of England on Thursday said it voted to boost its asset purchase program by 75 billion pounds ($114.8 billion) to a total of how many pounds?
A. 275 billion pounds

Yes, questions 1 and 3 do look similar.  At least they do for me.  If you're seeing something different, please advise.

Update:  Commenter Zip is showing this for Question 3:

3.  In what year did “Fast Money” contributor Karen Finerman co-found Metropolitan Capital Advisors?

Answer: 1992

That is indeed the right answer to that question.  I'm just not seeing it on my Bonus Bucks page, for whatever reason.  Let me know if anyone experiences different weirdness with Question 3.

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It probably goes without saying, but keep a close eye on that September employment report at 8:30.  Following decent numbers from ADP and initial unemployment claims, the S&P 500 is up more than 8% from Tuesday's lows.  The Dow's regained more than 700 points.

Look out below if unemployment fails to keep itself to 9.1% and/or payroll growth doesn't jump from August's goose egg to at least the 60,000 the market's expecting.

Update:  Better than expected payroll growth of 103,000.  August revised up to 57,000.  Unemployment rate unchanged at 9.1%.  Futures erased their losses and were pointing to a Dow gain of 60+ at the open, following the report.

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Previously:

10/5:  Wednesday, Week 3
10/4:  Tuesday, Week 3
10/3:  Can You Win Without Kodak?
10/3:  Monday, Week 3
9/30:  Friday, Week 2
9/29:  Thursday, Week 2
9/28:  Cheaters' Edition!
9/28:  Wednesday, Week 2
9/27:  Tuesday, Week 2
9/26:  Monday, Week 2
9/23:  Friday, Week 1
9/22:  Thursday, Week 1
9/21:  Wednesday, Week 1 (Supplemental Open Thread)
9/21:  Wednesday, Week 1
9/20:  Tuesday, Week 1
9/19:  Monday, Week 1: Trading Begins!
8/23:  CNBC Million Dollar Portfolio Challenge - Eligible Stocks, Funds
8/21:  CNBC Million Dollar Portfolio Challenge (More Details)
8/20:  CNBC Million Dollar Portfolio Challenge (Kicks Off Sunday August 21)

Full Archive:  CNBC Portfolio Challenge 2011

CNBC Million Dollar Portfolio Challenge - Thursday, Week 3

For answers to the most recent Bonus Bucks trivia questions, click here.

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Bonus Bucks for Thursday, October 6 (the ones posted Wednesday night).

1. This week UK Finance Minister George Osborne tacitly admitted that a British program designed to get banks to lend to small businesses wasn't working satisfactorily, and that further measures would be necessary. What is the name of that program?
C. Project Merlin

2. Which 3 resources stocks did James Chirnside, the CIO of Asia Pacific Asset Management recommend on CNBC on Tuesday?
D. BHP, Fortescue and Vale

3. What is the pollution level in the world’s 4th most polluted country?
A. 145 ug/m3

Checking in on the leaderboard, our pal Bradford Pine continues to climb in the rankings, checking in at #8 and #19 overall tonight (and #7 and #8 for the week).  Get it done, Brad!

Meanwhile, #1 Tracy Sanders is closing in on $2 million.  Her nearest competition (herself) is 2.5% behind.

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Previously:

10/5:  Wednesday, Week 3
10/4:  Tuesday, Week 3
10/3:  Can You Win Without Kodak?
10/3:  Monday, Week 3
9/30:  Friday, Week 2
9/29:  Thursday, Week 2
9/28:  Cheaters' Edition!
9/28:  Wednesday, Week 2
9/27:  Tuesday, Week 2
9/26:  Monday, Week 2
9/23:  Friday, Week 1
9/22:  Thursday, Week 1
9/21:  Wednesday, Week 1 (Supplemental Open Thread)
9/21:  Wednesday, Week 1
9/20:  Tuesday, Week 1
9/19:  Monday, Week 1: Trading Begins!
8/23:  CNBC Million Dollar Portfolio Challenge - Eligible Stocks, Funds
8/21:  CNBC Million Dollar Portfolio Challenge (More Details)
8/20:  CNBC Million Dollar Portfolio Challenge (Kicks Off Sunday August 21)

Full Archive:  CNBC Portfolio Challenge 2011

CNBC Million Dollar Portfolio Challenge - Wednesday, Week 3

For answers to the most recent Bonus Bucks trivia questions, click here.

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Bonus Bucks for Wednesday, October 5 (the ones posted Tuesday night).

1. According to UBS, if Greece were to default, the U.S. were to experience weak growth (but not a recession) and China were to avoid a hard landing, how much would stocks in Asia ex-Japan fall by?
A. 18%

2. How does Phillip Carter describe his "Texas Cash Cow Investments" business?
D. "Instead of doing cattle, we’re doing houses."

3. According to the World Federation of Exchanges, what percentage of the trading that takes place in London involves shares of companies that are based outside of the United Kingdom?
C. 14 percent

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Previously:

10/3:  Can You Win Without Kodak?
10/3:  Monday, Week 3
9/30:  Friday, Week 2
9/29:  Thursday, Week 2
9/28:  Cheaters' Edition!
9/28:  Wednesday, Week 2
9/27:  Tuesday, Week 2
9/26:  Monday, Week 2
9/23:  Friday, Week 1
9/22:  Thursday, Week 1
9/21:  Wednesday, Week 1 (Supplemental Open Thread)
9/21:  Wednesday, Week 1
9/20:  Tuesday, Week 1
9/19:  Monday, Week 1: Trading Begins!
8/23:  CNBC Million Dollar Portfolio Challenge - Eligible Stocks, Funds
8/21:  CNBC Million Dollar Portfolio Challenge (More Details)
8/20:  CNBC Million Dollar Portfolio Challenge (Kicks Off Sunday August 21)

Full Archive:  CNBC Portfolio Challenge 2011

CNBC Million Dollar Portfolio Challenge - Tuesday, Week 3

For answers to the most recent Bonus Bucks trivia questions, click here.

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Bonus Bucks for Tuesday, October 4 (the ones posted Monday night).

1. An economic advisor at Arbuthnot Banking Group predicted on Friday that the United Kingdom will see further monetary stimulus from the government by what time frame?
D. End of November 2011

2. Which of the following is not cited as a post-March drag on stocks in CNBC.com’s Investor Winterizing special report.
D. S&P’s downgrade of U.S. credit rating

3. Which investment bank said September's asian equity selloff was caused largely by long-term investors than by short-term investors or hot money outflows?
C. RBS

I have to say I'm a little surprised the leaderboard isn't showing even more massive numbers, what with the Kodak situation, likely to be the best trade of the contest.  It appears that no one who was already on the leaderboard (or even on the cusp, with the possible exception of Tom McAdam) was in EK.

Still, the trade did yield a bit of a shakeup in the roster, including the return of our old buddy Bradford Pine (who took home 2nd Prize in the 2008 MDPC), who cruised Kodak back to the leaderboard at #19.  Well done, Brad.

And take heart.  The updated leaderboard suggests the leaders are growing complacent.  While they've been steadily gaining each day, rarely perturbed by up-and-comers, today nicely illustrates that in a market like this, a single day can launch you into the top tier.  We may not get another Kodak, but with no sign of volatility easing and earnings season upon us, those leaderboard spots are ripe for the picking.

With that in mind, it's worth remembering the words of Herman Blume:

Here's my advice to the rest of you: Take dead aim on the rich boys. Get them in the crosshairs and take them down. Just remember, they can buy anything but they can't buy backbone. Don't let them forget it.

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Previously:

10/3:  Can You Win Without Kodak?
10/3:  Monday, Week 3
9/30:  Friday, Week 2
9/29:  Thursday, Week 2
9/28:  Cheaters' Edition!
9/28:  Wednesday, Week 2
9/27:  Tuesday, Week 2
9/26:  Monday, Week 2
9/23:  Friday, Week 1
9/22:  Thursday, Week 1
9/21:  Wednesday, Week 1 (Supplemental Open Thread)
9/21:  Wednesday, Week 1
9/20:  Tuesday, Week 1
9/19:  Monday, Week 1: Trading Begins!
8/23:  CNBC Million Dollar Portfolio Challenge - Eligible Stocks, Funds
8/21:  CNBC Million Dollar Portfolio Challenge (More Details)
8/20:  CNBC Million Dollar Portfolio Challenge (Kicks Off Sunday August 21)

Full Archive:  CNBC Portfolio Challenge 2011

CNBC Million Dollar Portfolio Challenge - Can You Win Without Kodak?

For answers to the most recent Bonus Bucks trivia questions, click here.

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It's gonna be tough.  Eastman Kodak (EK) was not on the original list of eligible equities, but it was apparently added when CNBC revised the list prior to the contest kickoff.  Anyone who was holding it this morning made up to 100%+, meaning a one-day bump of 25% in their portfolio value.  A portfolio with a value of $1.2 million or so going into today would jump onto the leaderboard (based on Friday's closing values).  There are well over 1,000 portfolios that were at $1.2 million or better and the Kodak story was well publicized on Friday, meaning the 50% aggregate gainers club (numbering only 20 or so until today) probably just got a lot bigger.

Worse, if the median leaderboard member were holding EK today, he'd be looking at a total gain of roughly 90% now.

It's a long contest and missing out on one humongous windfall certainly doesn't count you out, but it's probably safe to say the Week 3 trip winner will be a Kodak beneficiary.

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Previously:

9/30:  Friday, Week 2
9/29:  Thursday, Week 2
9/28:  Cheaters' Edition!
9/28:  Wednesday, Week 2
9/27:  Tuesday, Week 2
9/26:  Monday, Week 2
9/23:  Friday, Week 1
9/22:  Thursday, Week 1
9/21:  Wednesday, Week 1 (Supplemental Open Thread)
9/21:  Wednesday, Week 1
9/20:  Tuesday, Week 1
9/19:  Monday, Week 1: Trading Begins!
8/23:  CNBC Million Dollar Portfolio Challenge - Eligible Stocks, Funds
8/21:  CNBC Million Dollar Portfolio Challenge (More Details)
8/20:  CNBC Million Dollar Portfolio Challenge (Kicks Off Sunday August 21)

Full Archive:  CNBC Portfolio Challenge 2011

FoxNews.com Live 9-10

I'll be on Fox at live.foxnews.com Monday morning from 9-10 (or possibly until 10:30), discussing - I suspect - some combination of political and economic topics.  Just a guess: Euro-geddon, Chris Christie, Herman Cain, and the messageless, hygieneless masses currently clogging much of lower Manhattan.

If you miss it live, the show will be archived at the link until 8 am Tuesday (dial the tape back to 00:00 for the 9-10 hour).

Update:  Postponed.  Next week, same time.

CNBC Million Dollar Portfolio Challenge - Monday, Week 3

For answers to the most recent Bonus Bucks trivia questions, click here.

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Bonus Bucks for Monday, October 3 (the ones posted Sunday night).

1.  Australians are expected to splurge A$7.88 billion on pet care services and products in the 2011-2012 financial year. How much are they spending on food per year, according to market research firm IBIS?

B. A$ 2.8 billion

2.  London Metal Exchange is being courted as a possible acquisition target, according to its CEO, Martin Abbott. Which major financial institution now owns a 9.5 percent stake in the exchange?

A. Goldman Sachs

3.  According to CNBC.com’s Best Places to Work on Wall Street, who is the “king” of Wall Street?

A. Jamie Dimon

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Previously:

9/30:  Friday, Week 2
9/29:  Thursday, Week 2
9/28:  Cheaters' Edition!
9/28:  Wednesday, Week 2
9/27:  Tuesday, Week 2
9/26:  Monday, Week 2
9/23:  Friday, Week 1
9/22:  Thursday, Week 1
9/21:  Wednesday, Week 1 (Supplemental Open Thread)
9/21:  Wednesday, Week 1
9/20:  Tuesday, Week 1
9/19:  Monday, Week 1: Trading Begins!
8/23:  CNBC Million Dollar Portfolio Challenge - Eligible Stocks, Funds
8/21:  CNBC Million Dollar Portfolio Challenge (More Details)
8/20:  CNBC Million Dollar Portfolio Challenge (Kicks Off Sunday August 21)

Full Archive:  CNBC Portfolio Challenge 2011