CNBC shows students a way to trade up and become millionaires

Business School students hear about CNBC’s Million Dollar Portfolio Challenge

By Tanya Gubbay 
Monday 12 September 2011

Business School students are among those who have been offered the possibility of winning a million dollars thanks to the launch of the CNBC’s Million Dollar Portfolio Challenge.

Geoff Cutmore, presenter on CNBC’s Squawk Box, along with Simon Robbie, Executive Producer at CNBC, spoke to a packed lecture theatre of Finance, Risk Management and Financial Engineering students last week. They explained details of the fantasy trading game which gives competitors the opportunity to trade equities and currencies. Starting on 19 September, registered players will receive a virtual million dollars, allowing them to trade stocks on the NYSE, NASDAQ, LSE, ASX as well as foreign currencies.

The last trade will be on 25th November, at which time the person whose portfolio has the highest aggregate value will win a real million dollars. The second highest portfolio wins a Maserati Gran Cabrio Sport. In addition, during the 10 weeks of the competition, the player with the highest weekly percentage gain can also win a three night trip to various luxury resorts around the world.

"This is a time when everyone needs to think about managing their money in a smart way," Geoff Cutmore commented. "That’s what we try to help people do every day at CNBC. We wish all students the best of luck with the competition and want to thank everyone for taking the time to come and learn more about what we do."

The competition was set up in 2007 for residents of the US and this is the first time that UK residents are eligible to enter. Competition organisers claim that players do not have to be active traders, or have experience of the financial markets. Indeed, last year’s winner was Stephen Weber a system analyst from the US and the competition’s first winner was Mary Sue Williams, a waitress from Ohio, who had never bought a stock in her life before playing.

Second place wins a Maserati Gran Cabrio Sport

Vinay Gupta, a Risk Management and Financial Engineering student is keen to try his luck: "I have already signed up to play the game and I’m looking forward to receiving my virtual money and start trading."

Summing up his chances to win, he said: "I think I am in with a good chance. My programme at the Business School certainly helps with this, equipping me with the financial knowledge essential for trading as well as an understanding of the mathematics involved in pricing. There is no doubt I will be facing stiff competition though, so I hope luck will be on my side!".

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The competition is open to legal residents of the UK, US and Australia. Visit: http://milliondollar.cnbc.com for full terms and conditions.