New Stock Picking Challenge
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Posted: Friday Jun 27 8:34:09PM 2008
Since " Broke in Canada" is sounding like a cop here and he sounds like he would be a hard ass if this contest went forward. Why dont we still have the contest. Still put up money as we would in any normal contest except in this case the contest winner would donate the proceeds on behalf of QIS Capital to whatever charity the winner wants it to be given to.
Any other suggestions.
Who knows this could grow into something bigger than anyone ever dreamed of. Given Dorens TV exposure I am sure a plug on TV could help set things off and with proceeds going to a good cause why would anyone object to a good cause. Just my opinion.
By Broke in Canada
Posted: Monday Jun 23 8:23:00AM 2008
Yes, I think this is a fantastic idea:
"All gaming in B.C. is subject to federal and provincial legislation and policies, which provide penalties for non-compliance. The Province also seeks out and prosecutes operators of illegal gambling events."
An investment contest with a monetary prize is gambling, and without a license, it is "illegal gambling." The first sniff of a contest of this sort on this board, and I will be contacting the Solicitor General of BC.
Maybe the prize winner can use the funds as bail money for the operator of the contest.
Posted: Tuesday Jun 17 10:53:02PM 2008
Posted: Tuesday Jun 17 6:33:53PM 2008
Yes I would like to be involved as well. Thanks PA
Posted: Tuesday Jun 17 5:12:21PM 2008
I will take part, have 3-4 names avail, different from prior names. Hope there will be provision to keep cash back initially, waiting for additional names to fill out anticipated 5. But whatever contest manager wants to do is fine.
Posted: Tuesday Jun 17 3:53:20PM 2008
How many people would be interested in participating in a new stock picking contest?
Posted: Tuesday Jun 10 8:24:32PM 2008
Hey PA/Doren while I was at work today I was thinking of the contest a bit further. I think that with every trade that is orchestrated there should be a fee charge(out of the imaginary money being used in the pool) of XYZ no matter the size of the trade. So If you owned stock symbol "XYZ" you would pay a fee of say $100 to buy and then another $100 to sell just like it would be if you really did have the money.
Now if you wanted to make this contest interesting you could also say that with every trade you make you have to pay a $5 fee (or whatever amount) to the pool if you wanted to prevent people from trading in and out of stocks. I know trading in and out of stocks will be a nightmare from a management standpoint so why not put a price tag on it. If you want to trade stock you will have to pay the monetary sum of XYZ to the pot.
Just some ideas to float around.
Posted: Tuesday Jun 10 11:14:28AM 2008
I have been thinking the last couple of days of how a new contest should be held.
An option would be (If Doren is into this) of having everyone put up $20 so put your money where your mouth is. Have a secret selection of 5 stocks max that is sent in the form of an email to Doren. Then there is no way in which others can view your selection prior to the start of the contest.
There will be a first place price
Second place prize
Third place prize.
As for rules. You can trade as much as you want like in real life. Only specification would be that you could not trade more stock than what traditionally trades. Ie if you bought Jemtec say 100,000 shares at $1 you could not trade it (in its entirety) the next day for $1.05 as the stock may have only traded this amount of shares all year.
There has to be some reason with all members on how much you can trade at one time. With that being said we should not make it tougher on whomever wants to be the one to manage this contest.
Another specification should be that if the US Dollar is on Par with the Canadian dollar then when it comes to trading the stock if the currency has changed there is no gain by any participants. So a dollar is still a dollar and nobody will have any unfair advantage either way.
I am interested in your contest though Pandreola