F13 Investment Challenge

[Ookii]

I've decided lately I want to get my investing chops up so I can effectively invest a nonminal amount of cash next year.  Searching for a replacement to the Yahoo Investment Challenge (Why'd they cancel it?) yields Investopedia.com, and I noticed you can start private games by invite only.

So who wants to start a fantasy stock market challenge game?  I'm putting this in here for now so people actually see it, because only crazy people actually go in that Fantasy Sports sub-forum.

[WayAbvPar]

That sounds like fun.

[Nebu]

I'd be interested.  Sounds like a great new way to embarrass myself.

[Hoax]

I'm in.

[Sky]

I'd just put all my money into beer stocks.

Or my stocks into beer money, I forget which.

[Ookii]

Five people including me!  That's 4 more than I expected!  Exclamation mark!

Password is 'f13stocks', name of the game is 'F13s Stock Trading Madness', site is http://simulator.investopedia.com.  I am a total amateur when it comes to this so I expect to get schooled, any lurkers or anyone else feel free to join!

EDIT: Read Viin's post below

[WayAbvPar]

Can you give us the game ID? The name doesn't work when trying to join.

[Viin]

That website sucks. We should try VSE instead. I made a game if you guys want to check it out, but either way this would be fun if we did it for a short time span (like 1 or 2 months) per game.

http://vse.marketwatch.com/Game/StartViewGame.aspx?id=F13_Stocks

Same pass as above.

[WayAbvPar]

That website sucks. We should try VSE instead. I made a game if you guys want to check it out, but either way this would be fun if we did it for a short time span (like 1 or 2 months) per game.

http://vse.marketwatch.com/Game/StartViewGame.aspx?id=F13_Stocks

Same pass as above.

Does this not allow us to buy mutual funds? I can't seem to find out how to do that.

[Ookii]

That website sucks. We should try VSE instead. I made a game if you guys want to check it out, but either way this would be fun if we did it for a short time span (like 1 or 2 months) per game.

http://vse.marketwatch.com/Game/StartViewGame.aspx?id=F13_Stocks

Same pass as above.

Awesome!  I knew that first google result shouldn't be trusted!

Does this not allow us to buy mutual funds? I can't seem to find out how to do that.

We're not playing for forever here, I think Viin setup the time for 2 months or so right?

[Viin]

Yep, starts Nov 5th (Monday) and ends the 31st of December. You have the weekend to figure out what to buy on Monday morning. :)

The games are setup for short buy/sell cycles, as though you were day trading. Mutual funds are really only used for 401ks and ppl who don't want to look at any stock stuff except once or twice a year.

[cmlancas]

In. I did the stock trading thing in high school and won $40 :P

Woo. Unfortunately the next year I lost like $30k or someodd from $100k.

[Soln]

Bring it.  /files_nails

[Merusk]

It sounds interesting but it's so completely against my own investing style I know I shouldn't even try.  That plus the research is an MMO-catassfest in and of itself. 

[Phildo]

Prepare for hostile takeover!

[Viin]

Don't forget to submit your orders this morning!

[WayAbvPar]

I don't have a goddamned clue what I am doing, but I bought me some stocks! 

[Viin]

Neither does anyone else. Your guesses are as good as mine. 

Though I am curious why some folks picked the stock they did ..

cmlancas, why Daktronics Inc? (DAKT) Seems to be doing real good today, just wondering where it came from.

[cmlancas]

I've followed DAKT for a long time. Possibly five years-ish? 27.x a share is pretty darn low for their shares -- I own a little of their stock irl as well.

Who knows if they will rebound or not. I know I shorted some Citigroup though! :D

[cmlancas]

What the hell? I bought Citigroup short and it shows me as long!

Fuck.

[Grand Design]

I'm in.

And first place at the moment!

If only I could be that financially reckless irl.

[WayAbvPar]

OK, wtf is the difference between short and long? I R consfuzed.

Also, nice rally at the buzzer kept me ALMOST even.

[Viin]

Short selling example from Wikipedia:

For example, assume that shares in XYZ Company currently sell for $10 per share. A short seller would borrow 100 shares of XYZ Company, and then immediately sell those shares for a total of $1000. If the price of XYZ shares later falls to $8 per share, the short seller would then buy 100 shares back for $800, return the shares to their original owner, and make a $200 profit. This practice has the potential for an unlimited loss. For example, if the shares of XYZ that one borrowed and sold in fact went up to $25, the short seller would have to buy back all the shares at $2500, losing $1500.

[hal]

OK, wtf is the difference between short and long? I R consfuzed.

Also, nice rally at the buzzer kept me ALMOST even.

Short sell is betting that the stock price will go down. Your borrowing the brokers stock with a promice to buy at some point in the future. The more the price of the stock falls the more profit. If the stock price rises you have to buy at market.

Long is the normal buy and hold. Betting that the price rises.

[croaker69]

I joined up and tried to short Citi as well.  Submitted at 0800 and the transaction was still pending at 1000.  I wanted out at 0915 when the market started recovering.   


edit

Just checked and it's still pending...

[Righ]

I just joined up. I have no idea what to do. I assume I can only buy something when the exchange opens, and can't have some runner put in a proxy order for me when the bell rings?

[Viin]

You can submit your order and it'll wait until tomorrow morning to start and fill them. I had maybe 3 orders ready to go Sunday night for monday.

[Righ]

Okay, I figured out the interface and put in some buy orders that I found amusing.

[Phildo]

Shame F13 doesn't have stock.  Schild, are you reading this?

[schild]

Shame F13 doesn't have stock.  Schild, are you reading this?

No, I was telling a nun I can't get into her account. She needs to learn how to keep track of her credit cards.

[Sky]

Okay, I figured out the interface and put in some buy orders that I found amusing.

I'm going with the 'if you can't beat 'em, join 'em' strategery. I have no clue what any of the terminology means.

[Grand Design]

cmlancas is kicking ass today.

Activision and Sony are tanking my picks.

[Sky]

KBR is slightly making me a little, but it's giving me palpitations because it dips down so much while climbing.

This is actually turning out to be interesting and informative. My father has been dabbling in day trading so it will be something to talk about with him now and again, previously I'd always get lost when he started yammering on about trades.

[cmlancas]

Just be lucky that it didn't show me as short for Citigroup. I'd have a 7% return right now already. Fuckers.   

[Sky]

I totally stole your idea once Viin explained shorting. I'm not the only one shorting C either ;) I decided to try shorting Mattel, which was working great this morning, but it's rallying this afternoon. Mattel investors hate children! Unless it's the chinese lead paint industry driving it up...