Last post on Mar 13, 2008 at 11:12 AM
You are in the Car Stock Exchange
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Automotive News, Future Vehicle
#6 of 15 Re: Wii [rcracedriver]
Mar 12, 2008 (6:38 pm)
I am although wondering why the prices are creeping up...
Mar 12, 2008 (7:22 pm)
You know, I'm surprised at how many new peeps (at least new to me) are appearing on the leaderboard. I just finished reading the monthly top 50 and I have to say, I don't recognize 3/4 of them. Apprently the "pros" don't have as commanding a lead as I first thought. The overall list is still pretty familiar, though.
#8 of 15 Re: Newbies [estreka]
Mar 12, 2008 (10:24 pm)
how can someone have 0% WTD gain but high month ranking?... maybe i skipped through his id last time.. but just curious..
#9 of 15 Re: Newbies [chung]
Mar 13, 2008 (5:41 am)
Personally I'm pretty secure knowing that on their maturity date, all the stocks will be worth fractions of what they're selling for today. So anyone worried about their short positions today could just walk away until 8/31, when their positions will suddenly be firmly in the green.
#10 of 15 Re: Newbies [viss1]
Mar 13, 2008 (6:22 am)
I agree, but this misses the point, if you have shorted $1M in stocks, you will be in company with about 1000 other people. Some variation for how far each one corrects and where you bought it, but still. Whereas, the person who shorts $10M in stocks will be far ahead.
#11 of 15 Re: Newbies [haskell3]
Mar 13, 2008 (9:00 am)
Agreed, it's certainly not the way to win the game.
#12 of 15 Re: Newbies [haskell3]
Mar 13, 2008 (9:03 am)
Whereas, the person who shorts $10M in stocks will be far ahead.
Not really, it all depends on at which point did the person short. I shorted most of my holdings at around the $90 mark and that's going to be different than shorting them now (around $70).
#13 of 15 Re: Newbies [louiswei]
Mar 13, 2008 (10:28 am)
Let's say the average return on all stocks is $15/share, or 15,000 units.
Let's say a newbie shorted stock at $90/share, giving him 100,000 shares. At the end of the 6-month period, that stock is sold, giving the player $8.5mil. Not bad.
Now let's pretend this player has a roguishly handsome brother who joined the game at the same time. Instead of purchasing immediately, he instead day trades every day. Let's assume by the end of the 6 month period, he's made $10mil (a very conservative estimate by looking at the leaderboards after 2 weeks, but we'll stick with this premise). He then proceeds to short stock at $70/share, or 333,000 shares. When the stocks are sold, he returns $28mil. Even better!
The caveat to this, of course, is that he spent all his time playing CSX while you continued on with your life. During that time, you met an attractive partner, got a promotion at work, and wrote the great American novel. But he got a Wii!
#14 of 15 Re: Newbies [estreka]
Mar 13, 2008 (10:44 am)
That makes the very dangerous assumption that stock prices haven't plummeted to around $15 a share especially since everybody knows when and what the future value of the stock will be...but there's cap on how much newbie A can earn vs. newbie B.
#15 of 15 Re: Newbies [estreka]
Mar 13, 2008 (11:12 am)
hmmm... somehow Wii is more tempting.. wait.. no nevermind, Wii is more important.. Mike said there will be a "better" prize on the 6th months. Maybe a PS3?? lol..
I started to play seriously on Marth 4th.. so during last 10 days, I spent time on CSX about same amount time as (watching a TV + playing video game + surfing the net) combined because CSX was always on while I do those activities. It also took away my precious lunch time on last tuesday and tuesdays from now on for a while...
Also, thanks to many players who bought the shares early on the games and are not coming back to play, the price are defenitely higher than it would be if they were active.