Meet the top ten of the competition after 3 days of trading. With gains of up to 400%, not including the trivia prizes, people are saying something is not right. Are these guys playing funny business?
Let's find out if they were... To produce a gain of 100% on their total equity, a conservative gain for the wizards, they would have needed to either:
(1) buy 5 or more different stocks that on average experienced a 100% gain over the last 3 days
OR
(2) buy less than 5 different stocks that on average experienced GREATER than a 100% gain
The number 5 comes from the diversification rule that says you can only put a maximum of 20% of your equity into any one stock.
Well I call a challenge for anyone to name a combination of 5 stocks (or less) from the ASX 300 that produced on average a 100% gain (or more) over the last 3 days (12th Nov to 14th Nov).
Do you recon these guys are playing fair?
5 comments:
all you need to do is open a couple of hundred referrer accounts and boom you have increase your portfolio x100 with no way of verification the id is unique to the one user its cheating at its easiest.
I guess that's why there are thousands of accounts still sitting on their original $100,000.
I find it telling that CNBC has now removed the option to "Display All" on the League Table.
This means that the suspcious minded can no longer see the number of dormant $100K accounts, as they increase exponentially each time the leaders of the comp continue to rort the $1000 referrals programme.
The rules say that you can only do this a maximum of 20 times. But maybe they didn't implement the limit.
Looks like they have adjusted the maximum number of referrals, now everyone is back on the game :)
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