The Game challenge is to increase the value of your share portfolio in a set time frame.
Simulates real sharemarket conditions as you buy and sell shares online using "real time" share prices.
$5,000 Westpac Broking account to be won
Registrations 28 January to 17 February 2009
Trading 19 February - 3 June 2009
It's a bit of both..
It's like Dream Team for Shares..
It's interesting, but not really a 'bargain' in the usual sense of the word. When they run it, it is always free, and it's more of a competition (but not a mere draw).
Did one of these, forgot by who, though they allowed you to make extra money by getting your friends to play it and by watching CNBC so it ended up being really dodgy as people used sock-puppeting. This one looks like it might be good, I think I'll give it a try.
Coming soon - "ASX Sharemarket II: Global Economic Crisis edition". The aim is to become a CEO, give yourself million dollar bonuses after being given billions of dollars in bailout money, then attempt to blow it all by throwing massive parties and buying yachts.
lol :)
Played it before and LOST BADLY, it's a competition and a freeware game at the same time so no bargain. More appropriate for the forums…
Played it last year with real money and lost badly. :(
played it just before the economy started going downfall, if only i had sold my shares when i could of, then i would be $5000 richer XD
however, if anyone sold or bought at the correct time, then everyone would be a winner lol
Speaking from my previous experience in playing this game. To actually win the event, you need to put your money the most risky assets and pray a miracle will happen. It also helps to put your money in the least diversifiable portfolio and maximise the possibility of great return.
If I need to explain this any clearer, you would not be doing the above if there are some consequences of losing all your money. Professional traders cannot win the game based on their trading skills. Throwing a dart to pick your shares can.
I thought The Age used to publish results of some advisors and investors (not sure if these were people paying to appear), a dart board and a few people who had no experience.
As I remember, the dart board usually did pretty well compared with the advisors :) (often in the top 2 :P )
Most advisors I have heard from advise against the above strategy, for sure. :) They are all for diversification of investments. I cannot comment on whether professional traders though, do the same thing as the advisors recommend :P
You are correct. But winner of these game get triple digit returns on their hypothetical investment. The only way to do it is to put money on the most risky asset. There is nothing to lose in this strategy.
If you are a 'smart money' investor, then you should be putting your money in a well diversified portfolio. You may get a good return (lets say 25% in 3 months). But you will not win the game.
or in this climate, you may get a good return of -25% in 3 months (depending what the share market is doing :P )
@SomeGuyOnOzB: I'll assure you the winner of this will get a positive return…
My friend did a trading game from by UBS (similar to this). He most of his money on an oil exploration company and didn't touch the account since then. A few month later, he got a call from UBS for coming 4th in the state. He even got a certificate…
So you have to make the most money to win the $5,000 or is it a random draw?
Just wondering if the winner this time will be the person who theoretically made the most profit, or made the smallest theoretical loss …
Hmm. Is that a free game or a competition?