Perhaps because of the Financial Collapse, there has not been any new contests in quite a while.The last CNBC million Dollar Portfolio Challenge was a somewhat subdued affair.The Contest did not seem to attract the level of interest of earlier contests.The world Changed since then.

The Stock market got crazy with volatility and sold off violently.Major companies went broke or became penny stocks.Now… ,if you were playing the short side maybe that would have been a great time for a contest !..But It is not likely in the current political climate that GE owned CNBC would want to be sponsoring a contest encouraging “speculation”.

Not politically correct.

Well NBC has been sold and the market has steadied and rallied.Maybe they don’t care anymore.Political and Market headwinds aside…

A new contest to win a Maserati Gran Turismo has “grown” out of a morning segment on Mark Haines and Arron Burnetts “Opening Bell ” show in which the Hosts would try to “Call the Close”. Mark Haines opined often on how difficult it actually is .

At least you will have the advantage of private humiliation if you are wrong !.Now You have to guess the close and that is how you will win.

You have to submit your guess by 1 pm.A few Notes……You have to be 18 and have a Social Security  # .

This is not the first Maserati That has been given away by CNBC ..but I wouldn’t complain about a repeat !….

HERE IS SOME CONTEST MOTIVATION…

A FEW FACTS ON THIS SEXY ITALIAN BEAUTY

[ no ...not Maria Bartiroma ! LOL]

2010 Maserati GranTurismo Convertible National Base Price

VehicleMake = ‘Maserati’;
VehicleModel = ‘GranTurismo Convertible’;
VehicleYear = ‘2010′;

Style:
2dr Convertible (4.7L 8cyl 6AM) |

MSRP:
From  $140,000

CNBC “CALL THE CLOSE”
Frequently Asked Questions

  1. What is CNBC’s Call the Close?

CNBC’s Call the Close is an online stock market prediction game and a sweepstakes.  The game invites players to make their prediction for the closing value of the Dow Jones Industrial Average (DJIA) for the upcoming trading day.  Beginning at 4:30pm ET at the conclusion of each trading day through 1:00pm ET the following trading day, players can submit their estimate for the DJIA close.  The player who comes closest to the closing value of the DJIA to the .00 decimal point will be declared the winner.

All participants who play the game will receive an automatic entry into the sweepstakes.  One player will be randomly selected as the sweepstakes winner.

  1. When does Call the Close begin?

Both the game and sweepstakes begin February 26, 2010 at 4:30pm ET and end April 2, 2010 at 1:00pm ET.

  1. Who can play Call the Close?

Permanent legal residents of the United States or the District of Columbia who are at least18 years old or the age of majority in their state of residence as of February 26, 2010 are eligible to participate.  Participants must also have either a valid social security number and/or a valid U.S. personal tax I.D. number.

  1. How do I sign-up to play?

To play, visit http://calltheclose.cnbc.com and click on the Sign In link on the Call the Close Play page if you are already a registered CNBC.com user.  Once you are signed in, you will need to complete a one-time Call the Close opt-in form.  If you have played a previous iteration of Call the Close, you will be required to complete a new one time opt-in in order to participate.

If you are not already a registered user, you will be required to complete the CNBC.com registration process outlined below (See #5).

  1. How do I register to play Call the Close at CNBC.com?

To register as a CNBC.com user, click on the Register link online or on your mobile device. You will be taken to the CNBC.com Registration page where you will be asked to provide the following:  First Name, Last Name, Email and Password (for your CNBC.com log-in), Year of Birth, Gender, and Country.  You will also be asked to select a security question and provide the corresponding answer.  Upon reading and accepting the terms and conditions, submit your information.

Once your submission has been made, CNBC.com will send you a registration confirmation to the email address you have entered. Please make sure to have your Spam filter settings set to allow emails from CNBC.com to arrive in your inbox.

Click the registration confirmation link in the email and you will be automatically directed to the Call the Close opt-in page. Here you will be required to provide your date of birth and phone number. After checking the Call the Close terms and conditions agreement box and clicking the submit button, you will be directed to the Call the Close play page and you may begin calling.

  1. How is Call the Close played?

At the conclusion of each trading day between the hours of 4:30pm ET (after the market settles) and 1:00pm ET the following trading day, participants will have the opportunity to make their best guess for the closing value of the DOW for the coming/current day.  Players will be required to enter their best guess for the DJIA close to the .00 decimal point.  They will also be asked to enter their guess for the S&P 500 to the .00 decimal point for tiebreaker purposes.  Once guesses are submitted, users will view a Thank You page with confirmation of their DJIA guess along with the option to print a receipt for their records.

After a guess has been made for the current calling period, the user’s call will be displayed in the upper right corner of the game page.  Users can return to the Play page at any time during the calling period to revise their call.

  1. What does it cost to play Call The Close?

There is no fee to participate in Call the Close.  Simply access the game site, register or sign in and start playing.

  1. How often can I change my call?

You may change your call as often as you wish within the call period.  The call window typically begins at 4:30pm EST following the close of the trading day and ends at 1:00pm ET the following trading day.  The only exception would be on days when the market closes early.  In this case, the site will indicate if the call period has changed (for instance, in the case of an early holiday closing) and provide the deadline to submit calls for the upcoming day.

  1. Do I receive a sweepstakes entry each time I change my call?

No, you will only receive a sweepstakes entry for each entry period.  Each entry period begins at 4:30pm ET and concludes at 1:00pm ET the following trading day.

  1. Can I play during weekends and holidays?

Yes, you may continue calling over weekends and holidays when the market is closed.  Feel free to log-in and update your call as frequently as you like during active calling hours.

  1. Can I play from my mobile device?

Yes, you may play and register from your mobile device.  Using your wireless web-enabled device, go to http://m.calltheclose.cnbc.com to reach the landing page for the game.  Click on Sign In using your CNBC.com user information and enter your DJIA call for the upcoming/current trading day to the .00 decimal point.  You will also need to provide your S&P 500 tiebreaker guess as well.

  1. What if the market has an early closing, such as the day prior to a holiday?

On days that the market closes early, the site will clearly direct you to make your call by the preassigned time.

  1. Will I be notified if I am a game winner?

CNBC will contact you by phone to confirm you as the game winner once your call and user information have been verified by CNBC.com’s registration team.  CNBC’s game administration team will provide you with a declaration of eligibility release to complete and return within three (3) days.  You will not be declared an official winner until these documents are completed and returned.

  1. What if there is a tie?

In case of a tie, the winner will be determined by the player who comes closest to the actual closing value of the S&P 500 for that trading day.  In the event that a tie still exists, the winner will be the player whose entry submission was received first by the CNBC.com servers.

  1. Will my name be announced on CNBC?

CNBC may choose to announce your name on-air and/or online as part of its editorial coverage of Call the Close.  Winners will be noted as tentative pending official verification.

  1. Are there prizes?

GAME PRIZE:  Each Game Winner (twenty-five (25) total) will receive a CNBC T-Shirt (”Game Prize”) and a souvenir from Maserati. Approximate Retail Value (ARV) of each Game Prize is one hundred and sixty-five dollars ($165).

SWEEPSTAKES PRIZE:  The Sweepstakes Winner will receive a 2010 Maserati GranTourismo Convertible vehicle (”Sweepstakes Prize”).  All Sweepstakes Prize features and options, interior and exterior colors, and all other details of the Sweepstakes Prize will be determined by Maserati in its sole discretion.  Sweepstakes Prize will include payment of certain titles and fees as determined by Sponsor in its sole discretion.  CNBC will provide the Sweepstakes Winner with a cash payment in an amount to be determined by CNBC in its sole discretion, based on Sweepstakes Winner’s tax profile (”Tax Mitigation Payment”). The Tax Mitigation Payment is intended to mitigate any potential tax liability for Sweepstakes Winner resulting from the Sweepstakes Prize and may be higher or lower than the Sweepstakes Winner’s actual individual tax liability, as determined by CNBC in its sole discretion.  All other expenses, costs, fees or additional tax associated with the acceptance and/or use of Sweepstakes Prize are the sole responsibility of Sweepstakes Winner. ARV of Sweepstakes Prize is one hundred and forty thousand dollars ($140,000) plus the total Tax Mitigation Amount paid to Sweepstakes Winner.

Total ARV of all Prizes is one hundred and forty-four thousand one hundred and twenty-five dollars ($144,125) plus the Tax Mitigation Amount.  Each winner is responsible for all applicable federal, state and local taxes.  All Prize details are at Sponsor’s sole discretion.

  1. When will prizes be delivered?

GAME PRIZES: Prizes will be delivered within one month from winner notification and verification of eligibility.

SWEEPSTAKES PRIZE: Sweepstakes winner must take delivery of the Prize at a location (”Delivery Site”) and on a date designated by Maserati in its sole discretion. Maserati and/or its representatives reserve the right, but not the obligation, to designate the Delivery Site as the Sweepstakes Winner’s residence or a dealership near such residence.  In order to accept the Sweepstakes Prize, Sweepstakes Winner must possess and present adequate personal identification, evidence of legally required insurance, and a valid U.S. driver’s license issued by one (1) of the fifty (50) United States or the District of Columbia. Sweepstakes Winner bears the risk of damage to Sweepstakes Prize after delivery to specified Delivery Site and Sweepstakes Prize will be forfeited if not picked up within the number of days designated by Maserati after delivery thereto.

  1. How will prize winners be selected?

GAME WINNERS:  The Participant who’s “call” is closest to the closing value of the DJIA to the .00 decimal point (based on CNBC’s published DJIA closing at 4:30pm ET) for each Game Entry Period will be named a winner of the Game (the “Game Winner”).  In case of a tie, the tied Participant who came closest to the actual closing value of the S&P 500 (as determined by CNBC in its sole discretion as of 4:40pm on the applicable Trading Day) for that Game Entry Period, without exceeding the closing value of the S&P 500, as determined by Sponsor in its sole discretion will be selected as the Game Winner.  In the event a tie still exists, the Game Winner will be the Participant who first correctly submitted an Entry during the applicable Game Entry Period, based on the date/time of the prediction as determined by Sponsor in its sole discretion.

SWEEPSTAKES WINNER:  On or about April 2, 2010, employees or representatives of Sponsor will select one (1) potential Sweepstakes winner (the “Sweepstakes Winner”) in a random drawing from among all eligible Entries received during the Sweepstakes Entry Period.  Odds of winning depend on the total number of Entries received during the Sweepstakes Entry Period.

  1. When will the sweepstakes prize winner be notified?

On or about April 2, 2010, employees or representatives of Sponsor will select one (1) potential Sweepstakes winner (the “Sweepstakes Winner”) in a random drawing from among all eligible Entries received during the Sweepstakes Entry Period.  The potential Sweepstakes Winner may be required to complete, sign, have notarized and return an Affidavit of Eligibility and Liability Release (”Affidavit and Release”) and Publicity Release (where legal) within five (5) days of date of attempted delivery.

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misskitty k asked:


okay im 18 and just started college, but wondering how hard it is to get to be a guest on cnbc??? i plan to become a stock broker. i dont necessarily want to work there cause i dont want to live in NY, but how hard is it to become a guest for a day or something???

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Wikipedia says its by Willie Wilcox of Willie Wilcox Music. Any idea where i can buy it or download it ?

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johnfarber2000 asked:


when the guest gets ready to answer, he asks the question again, the guest starts talking and Matthews interrupt and asks the question again. It is enough to drive the viewer insane. Is there a mental problem here?
The other 2 shows following Mathews ask questions properly. (Olberman and Maddow)

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I live in manila and I trade for swifttrade here. I would like to start my own day trading here at home. I want to start small. How can I start my day trading with a minimum account of $300.is it possible? and is it also possible to prop trade with a micro account? can anyone give me steps on how to do it?

Can anyone give also the step by step process in opening an account .. for prop trading.. with a micro account?

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Warren Graham asked:


Some months ago, I wrote an article (published on this site) entitled “A Sub-Prime Economy” and I urge anyone reading the following piece to revisit that material, both to see what was wrong about it, and what was right. In it, I predicted that the trigger for financial trouble would come either in the form of an overheating economy, which would drive up interest rates and end the era of easy money, pushing marginal companies over the cliff, or, alternatively, that a weakening economy would tighten up lending standards, starving weak companies by blocking their resource to working capital, and increasing business failures. I was wrong.

While even the chronically optimistic must surely now admit that there is a problem in the capital markets, and that it has, in fact, spilled over into equities, the fuse has been lit not by either of the phenomena described, but rather, by the proverbial “tail wagging the dog.” That is to say that while the fundamentals of the “Global Economy”—more about that hackneyed phrase below—remain strong, they threaten to be compromised by an absence of access to credit, hitherto provided by hedge funds and private equity sources, with seemingly endless pools of easy money looking for a home.

Can it be only a few weeks ago that the indomitable cheerleaders for the markets (who, by some magical coincidence, are, for the most part, individuals engaged in the business of selling securities) were telling us that we need not fear, because the world was “awash in oceans of liquidity?” Now, central banks worldwide are intervening almost around the clock to provide needed liquidity to credit markets.



As for this author, I thought I saw the worm turn about two weeks ago, when, in the face of tremendous (and rather scary) volatility in both directions, the folks at Goldman Sachs trotted out Abby Joseph Cohen to tell us that the bull was alive and well, thank you very much. I had forgotten about Abby Joseph Cohen, and last remember her telling us in March, 2000 (the last hurrah for the internet bubble) that that, well, the bull was alive and well. Ms. Cohen has, to the best of my knowledge, never suggested publicly that the market might {gasp!} go down.

Further evidence of a change in mood can be found by anyone who is a regular watcher of CNBC. Gone are most of the smiles, jokes and general bonhomie that could always be found when the expectations were of an endlessly rising market. Gone is that most annoying “cowbell” signal which rang at CNBC to herald any announcement of note in the business world. And although CNBC is supposed to be a source of business and market news, any regular viewer of its programming can have no doubt about the inherent love for bulls and loathing of bears exhibited by its on-air talent. After all, just as sellers of securities want us to think that the markets will always go up, CNBC’s producers understand well that broad, general interest in the markets (and hence, higher ratings) increase dramatically when the markets are rising. But today, the featured guest of CNBC before the U.S. Markets opened for trading was none other than Wilbur Ross, the unchallenged Dean of Distress. Wilbur is an icon in the bankruptcy/restructuring/turnaround world, and, speaking for myself (I have spent over 25 years in this field), I readily acknowledge that Wilbur has probably forgotten more about this subject than I will ever know.

And yet, his observations on the current turmoil in the markets were succinct and remarkably simple. He noted that: “for the past two years, consumers have spent more than they have earned, and the government has spent more than it has earned (sic).” He pointed out the obvious: that such a situation cannot continue indefinitely. He attributed some of the recent difficulties to what he called the two most dangerous words in the English Language: “Financial Engineering,” which, according to Ross means that “someone has figured out a way to underprice risk.” Ross noted that many people had relied entirely, and to their detriment, on ratings agencies and bought products that were designed to sell a “risk ignorant rate of return.” According to him, such a practice “always has a bad end.”

Yet, the purveyors of promised profits will, undoubtedly, continue to tell us that this is a mere “blip on the radar screen,” and that the indestructible “Global Economy” will save the day. If one has a memory that reaches back to before yesterday afternoon (not such a given in an industry whose “captains” are often “twenty-somethings”), one might easily substitute the words “Global Economy” for the words “New Economy” that was so prevalent during the internet bubble. One might also easily realize that the recent and massive spate of private equity deals, in which funds acquire public companies, and finance their acquisitions with either low-cost loans or investor capital secured by assets of the target company are (not-so) strangely reminiscent of the leverage buy-out boom of the late 1980’s, so well-exhibited in the film Wall Street. Those deals certainly came to a bad end.

The difference now, the starry-eyed optimists tell us, is that the defaults in these deals are much more difficult to trigger. In fact, some of these private equity deals have provisions in which, if the borrower cannot pay, in cash, it has the option of merely issuing more stock to the lender. That system works fine, until and unless the borrower is in genuine difficulty. It may not be in default, because it retains the right to issue more stock (of ever-increasing worthlessness) to its lender. So what has been accomplished? The risk of financial disaster has merely been transferred from the borrower to the investors in the private equity deal. To my knowledge, nobody has, as yet, figured out a mechanism to generate “junk bond” level returns with “treasury instrument” credit quality. And yet, the investors in many of these vehicles have somehow allowed themselves to be bamboozled into thinking that someone had. And they were willing to pay astronomical fees for it. Now, of course, many investors are running for the exits, shocked at having actually lost capital! And the “Financial Engineers” are begging the Federal Reserve to ride in to the rescue and reduce the Fed Funds rate. Who would benefit by such action? Well, the stock market would likely go up, at least for awhile. Is the Fed supposed to be in the business of propping up the stock market? On the other hand, there would almost certainly be run on the already battered U.S. Dollar. The Sub-Prime mess would not be solved by any such action, as it represents much more than a problem of less than stellar borrowers. It is mostly a problem of declining housing values in a system where there was precious little equity from the buyers in the first place. Borrowers who could not afford conventional mortgages bought homes, upon which they put little or no money down, and took on mortgages at teaser rates, which are now adjusting to market.

So who are the victims? Not the lenders. They got their fees and their points. And they got paid again when they “securitized” their loan holdings and sold them on a market newly created and packaged by other “Financial Engineers.” Not really the borrowers, either, who got houses without having put up any equity, and paid (for awhile) low-interest mortgages instead of rent, for a place to live which they could not otherwise have afforded.

But if the Fed plays the role of the cavalry, or the Government embarks upon yet another bail-out plan (anyone remember the Savings and Loan crisis?), we KNOW who the victims will be: the taxpayers. We will be called upon to save the banks and the hedge funds from the consequences of their “Financial Engineering.”

The “Global Economy” may well be strong, but the U.S. Economy is two-thirds driven by the true American vice: rabid consumerism. Once the credit cards are nearly all maxed out (and accruing interest at, in some cases, over 30%), and the middle class is no longer able to access its non-existent home equity (whether because of declining values or tightening credit standards), consumer spending MUST suffer. The first hints of this are coming from profit warnings from Wal-Mart, Home Depot and Macy’s.

I am certainly a believer in the resilience and ultimate success of this Country, and we will somehow grow ourselves out of this mess, too, in the long run. But for the shorter term, all the protestations of Government spin doctors and Wall Street salesmen posing as analysts will not change the simple truth: The Sub-Prime Economy is upon us.

Warren R. Graham

Copyright 2007





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Et cetera asked:


I think Jim Cramer drives the market down and wants to blame the Obama Administration. Do you agree?

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