Here is the latest status for the portfolio I entered in the CNBC.com Million Dollar Portfolio Challenge. Overall, my long term picks have done surprisingly well in this short term contest.
I entered a portfolio based on the modified Unemotional Investor portfolio which I described in My Stock Picks for Q1 2007. (Disclosure: I closed out this portfolio on March 2, 2007 as described in Q1 Stock Purchases Update - Closed All Positions and I repurchased Avnet (AVT) and C. B. Richard Ellis (CBG) on April 20, 2007. I sold CBG again on May 8, 2007.) In addition, I purchased Google (GOOG) and Golden Star Resources (GSS) which are stocks I like but were not identified by the system. Here is the portfolio status as of the market close on Friday, May 11, 2007.
Status | |
| Portfolio Opened | March 14, 2007 |
| Stocks Purchased | Avnet (AVT) Coach (COH) C. B. Richard Ellis (CBG) Google (GOOG) Golden Star Resources (GSS) |
| Cash Position | 0.7% |
| Portfolio Value | $1,206,000 (top 6% in ranking) |
| Gain to Date | 20.6% (12.3 % from bonus bucks) |
Overall, I fell pretty good about this portfolio. Without the bonus bucks, the portfolio returned 8.3% for two months. Annualized, that is about a 50% gain per year. I wish my actual portfolio was doing this well:-) Individual stock returns were: Avnet (AVT) - 19%, C. B. Richard Ellis (CBG) - 16%, Golden Star Resources (GSS) - 4%, Google (GOOG) - 4%, and Coach (COH) - 0%.
The top finisher had $4,886, 000 (389% gain!)and the tenth finisher had $3,503,000. Since this portfolio did not end up in the top ten finishers, I will be participating in the second chance contest.
For more on Strategies and Plans , check back every Monday for a new segment.
Photo Credit: CNBC.com
This is not financial advice. Please consult a professional advisor.
Copyright © 2007 Achievement Catalyst, LLC
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