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Posted last Friday on the CNBC website...

"we are suspending the contest and will restart it Sunday, October 30 at 5:00 p.m. ET. Upon relaunch, all player accounts will be reset to their opening balance. Play will begin anew for the final five weeks of the contest."

For details see http://www.cnbc.com/id/44992592

Exciting news! Today CNBC announced the details of the 2011 CNBC Million Dollar Portfolio Challenge. You can register today at http://milliondollar.cnbc.com/ and begin trading on Monday, September 19th.

1st Prize is $1,000,000. 2nd Prize is a 2012 Maserati GranTurismo Convertible Sport

The challenge lasts for 10 weeks with a cool vacation prize each week. See http://milliondollar.cnbc.com/Prizes? for prize details.

Currency trading with leverage up to 10:1 is included this time just like the last time and is sponsored once again by FXCM.

Slideshows are available on the official CNBC challenge website explaining how to play the challenge. No single stock can initially make up more than 25% of your portfolio. However, it is allowed to grow beyond the 25% threshold. As usual make sure you read the rules carefully.

You can play with up to 5 portfolios. Just make sure you do not attempt to play using multiple CNBC accounts or risk disqualification.

There will be 3 bonus bucks questions per day posted at 8pm each day before a trading day. You will have up until 4pm the next trading day to answer the bonus bucks questions. Each question is worth $2,000. We will post the questions and answers here as quickly as possible. Make sure to bookmark this site, cnbc-challenge.com so you don't miss out on the free answers to the daily bonus bucks questions.

GLTA

Thanks to everyone who clicked-in. We are preparing for the next CNBC challenge so stay tuned. Visit http://milliondollar.cnbc.com/ for details. Good luck to those who made it to the finals!

Today I saw the announcement on CNBC regarding the 3rd official CNBC million dollar portfolio challenge. This challenge runs from November 17, 2008 to February 6, 2009. We will regularly update this blog with bonus buck questions and answers during all CNBC challenges. There are some minor changes this time around versus the 2nd challenge. Currency trading is back and it appears that anyone who registers is eligible to receive a free real $25 FXCM Micro trading account. Free money? Once you register you can practice trading currencies before the start of the contest. You can play up to 5 - $1 million portfolios.

It is important to keep in mind the rules for equities. Cnbc.com will post a list of all stocks and exchange traded funds ("ETFs" and together with stocks, "Equities") that are eligible for trading in the Contest, all of which Equities must have a one hundred (100) day average trading volume of at least ten thousand (10,000) shares, and which stocks must have a market capitalization of at least Five Hundred Million Dollars ($500,000,000), and which ETFs must have a price per share of at least two dollars ($2.00), each as of the close of the markets on November 14, 2008 (the "Eligible Equities"). Equities cannot gain eligibility for the Contest after November 14, 2008. Any Equities that are not listed as Eligible Equities on Cnbc.com as of November 17, 2008 will not be eligible to be traded in the Contest, even if they may have been mistakenly left off the list of Eligible Equities. Equities that are deemed eligible for the Contest as of November 14, 2008 and subsequently fall below one or more of the above-described average trading volume threshold or the market capitalization threshold (for stocks) or share price threshold (for ETFs) will not lose eligibility for the Contest. Equities that are incorrectly placed on the Eligible Equities list as of November 14, 2008 will remain eligible to be traded throughout the Contest. Initial Public Offerings that take place after November 14, 2008 will not gain eligibility for the Contest.

Equity trades submitted on equity trading days (Monday through Friday, other than market holidays) at or prior to 4:00:00 PM (or 1:00:00 PM on Early Closing Days) will be priced at the Equity's closing price for such day, as such closing price is reported to Cnbc.com by Wall Street On Demand, an independent data provider, after the close of the markets on such day. Equity trades submitted on weekends, market holidays and after 4:00:00 PM (or 1:00:00 PM on Early Closing Days) on equity trading days will be priced at the Equity's closing price for the next trading day. For the complete contest rules visit http://contests.cnbc.com/milliondollar/rules.do

And now the exiciting part - Prizes!

  • 1st Prize: $500,000 plus a 10-hour Marquis Jet Card
  • 2nd Prize: $200,000
  • 3rd Prize: $100,000

Weekly prizes include:

  • Nine holes of golf with Annika Sorenstam and a package at her academy

  • Two weeks, two chances to win an MLB?? All-Star Game?? package

  • Cruise Scotland to the 2009 British Open aboard PerryGolf???s MS Andrea

  • Caesars Palace?? Las Vegas Golf Getaway

  • A trip to Grace Bay Club in Turks & Caicos flying privately via the Marquis Jets Card Program

  • Sharp AQUOS HD Home Entertainment Package

  • Three weeks, three chances to win an NFL Pro Bowl and Four Seasons Resorts package in Hawaii

Good luck to everyone! I look forward to reading your comments.

This year you can earn up to $62,000 per week just by correctly answering all 31 bonus bucks trivia questions worth $2,000 each (6 daily / 1 weekly). You can also earn $1,000 by referring a friend to the contest. Correctly answering the trivia questions is necessary to win the million dollar challenge in my opinion since there are so many participants in the contest (around 240,000 as of today according to my calculations). To compute an estimate of the number of people competing in the contest I used an average of 2.5 portfolios per person and divided my current ranking of a portfolio by the percentage rank for that portfolio.

The top prize is a $500,000 annuity. Weekly prizes are also given out. For a list of all prizes see http://contests.cnbc.com/milliondollar/prizes.do

New this year is the currency trading powered by FXCM. I was still unable to trade currencies as of today. The following error message appears "Due to technical difficulties related to currency trading, we have cancelled all currency transactions submitted throughout Monday, May 12th and currency trading is currently unavailable. All traders' currency allocations will be reset to $100,000 CNBC Bucks until currency trading resumes."

Good luck to everyone who decides to participate. I ended up beating 99.85% of all portfolios last year with only 1 portfolio. As of yesterday my best portfolio of 5 was in the top 0.5% of all portfolios. My winners were FSIN & A.

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