I work as a vendor for PaineWebber…oops soorry make that UBS PaineWebber.The Swiss just bought us out.
A few years back we had a similar contest.ALL the brokers played.Know who won? A guy from the mailroom.
A local newspaper had a chimp pick 5 stocks (don’t ask me how they got him to chose , maybe he picked Chiquita) and matched those stocks up against one of the “hottest” analysts on Wall Street. Know who won? You got it…THE CHIMP.
Just my two cents on Stock Market games.Why are we paying brokers to invest for us.I want that damn chimp!
I have a good buddy who is a broker. His firm has a contest also: all the brokers pick 4 stocks each. Then they hold them for a year. 12 months. No selling, no more buying.
In all the years Greg (my bud) has been there, he’s never lost money in the game. As a matter of fact, when you look at the numbers, the group averages over 35% gain in that contest.
I just had an argument with another friend who like to say that he makes more informed picks than the brokers. I don’t believe him; Greg and people like him get paid good money for making good picks and don’t do anything all day except investigate companies.