On A Long Enough Timeline, Every CNBC Million Dollar Challenge Is Front Run To Smithereens

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Fri, 10/21/2011 - 20:02 | 1799118 voshnishki
voshnishki's picture

LOL. Yes, thank you!

Fri, 10/21/2011 - 20:15 | 1799150 eureka
eureka's picture

You're not going to get rid of algos - until you get rid of US Empire.

Algos, as Wall Street, serve the US Oligarch Elite and its minions.

Someone blow it up - please!

Fri, 10/21/2011 - 20:36 | 1799193 PsychicWebbah
PsychicWebbah's picture

I am/was the 0.01%!

Sat, 10/22/2011 - 01:42 | 1799594 Pool Shark
Pool Shark's picture

 

 

Aaaaaaaand, it's gone - it's all gone...

 

Sat, 10/22/2011 - 05:55 | 1799697 nmewn
nmewn's picture

Out of "fairness" they banned short selling too ;-)

Sat, 10/22/2011 - 09:11 | 1799789 NumberNone
NumberNone's picture

That's bullshit closing down their accounts, all they were doing is adding liquidity to the market. 

Fri, 10/21/2011 - 22:23 | 1799380 PAPA ROACH
PAPA ROACH's picture

Algo's die if electronic trading goes away and we're back to pits once again. I used to be a pit trader, I miss that life and would gladly move back to NYC if reinstated.

 

You cannot have this much vol and flash crashes with pits, humans take time to move. Fuck algos!

Fri, 10/21/2011 - 22:27 | 1799392 traderjoe
traderjoe's picture

While I agree with you in principal - two words: "portfolio insurance".

Sat, 10/22/2011 - 17:33 | 1800453 TheMerryPrankster
TheMerryPrankster's picture

Insurance is an illusion when the too big to fail, fail.

Fri, 10/21/2011 - 23:09 | 1799454 Ura Bonehead
Ura Bonehead's picture

Well, if we could get all the Russian and Asian criminal mathematicians out of the “Empire” then we could put a big bent in Algos.  Just saying…

Fri, 10/21/2011 - 23:33 | 1799498 i-dog
i-dog's picture

Doesn't take long before the first "It's somebody else's fault" comment is posted. Ura Bonehead.

Sat, 10/22/2011 - 08:59 | 1799778 LongBallsShortBrains
LongBallsShortBrains's picture

Obama can fix this problem......apply the buffet tax to the leaders.....give it to those not as fortunate, problem fixed.

Fri, 10/21/2011 - 20:02 | 1799120 Its_the_economy...
Its_the_economy_stupid's picture

When Diamond Jim Brady was asked while playing a game of Bunco at a saloon, "Don't you know this game is rigged? He replied "I know. But it is the only game in town!"

Fri, 10/21/2011 - 20:02 | 1799122 ragequit
ragequit's picture

'We apologize for any inconvenience, but fundamental fairness compels us to take this action.'

 

(only when fake money is at stake)

Fri, 10/21/2011 - 20:39 | 1799200 philipat
philipat's picture

Otherwise a perfect illustration of just how fucked the real markets are?

Fri, 10/21/2011 - 20:52 | 1799227 navy62802
navy62802's picture

Yep.

Fri, 10/21/2011 - 20:04 | 1799126 becky quick and...
becky quick and her beautiful mouth's picture

i bet it was the waddell & reed mailroom clerks.

Sat, 10/22/2011 - 04:26 | 1799204 philipat
philipat's picture

That you homebreaker Becky? I heard you were away taking an extended bath with Uncle Warren?

Fri, 10/21/2011 - 20:04 | 1799128 Royal Fleming
Royal Fleming's picture

LMFAO. CNBS losers

Fri, 10/21/2011 - 22:24 | 1799386 LongSoupLine
LongSoupLine's picture

Bob Pisani would say, "What's important here, is someone was winning."

Fri, 10/21/2011 - 22:57 | 1799440 tickhound
tickhound's picture

"The important thing is" - then a bunch of made up bullshit

Sat, 10/22/2011 - 10:22 | 1799851 wisefool
wisefool's picture

Brawndo: The Thirst Mutilator

http://www.youtube.com/watch?v=Tbxq0IDqD04

Not sure if the dude in the video is Jack Welsh, or Hank Paulson.

Fri, 10/21/2011 - 20:05 | 1799129 slow_roast
slow_roast's picture

I love how they're obviously giving prizes away to the cheaters anyway.  Just like the political system...fucking idiots.

Fri, 10/21/2011 - 20:22 | 1799168 knukles
knukles's picture

Pot/Kettle

Fri, 10/21/2011 - 20:53 | 1799228 navy62802
navy62802's picture

That's the way the American world works now.

Fri, 10/21/2011 - 23:37 | 1799506 PrintButtonMoney
PrintButtonMoney's picture

calling it the 'american' world is either incredibly arrogant (if you're referring to the entire world) or incredibly short sighted (if you're referring to only the U.S. as trading microcosm in the larger world market).  It seems like the rest of the world engages in some really shady/stupid trading practices, including the particular practice mentioned above.  The banks that run our economy run the rest of the world's economy too... but it's hardly fair to call them "U.S." banks...  Fiat banking has been around since the Roman empire started devaluing its currency near the fall.  Some of the same bankers that started controlling banks and money in Europe founded banking in the United States as well ("Give me control of a nation's wealth and I care not for its Laws"). 

This seems to be a common phenomenon amongst us Americans, we tend to forget that the rest of the world has been around, for the most part, alot longer than we have, in the Nation sense.  Even those of us who are incredibly disgusted with the politico-economic processes that happen in our country tend to forget that these practices are in no way new or original around the world.  Centralized banking and complete government control of the market is as old as markets, Government lying to its population base and controlling the media is as old as those intstitutions as well.  This problem, the problem that occurs when the many put power of any kind in the hands of a few (willingly or otherwise), is not an American problem, it's a human problem.  If we 'fix' this problem inside our own borders it doesn't follow that the problem is fixed. 

Anarcho-capitalism HO!

http://printbuttonmoney.blogspot.com

Sat, 10/22/2011 - 08:54 | 1799772 LongBallsShortBrains
LongBallsShortBrains's picture

Great!... Now you are going to tell me that Americans didn't invent slavery?

Fri, 10/21/2011 - 21:15 | 1799265 Nate H
Nate H's picture

they weren't 'cheaters'. they were just gaming the system according to the environmental cues given them, just like the rest of us.

 

 

Sat, 10/22/2011 - 09:35 | 1799811 krispkritter
krispkritter's picture

No 'clawback' recourse even in fantasyland. Dammit it all!

Fri, 10/21/2011 - 20:06 | 1799132 myztix
myztix's picture

there goes my legit 40% gain buying bullish positions!

 

Fri, 10/21/2011 - 20:10 | 1799140 tom a taxpayer
tom a taxpayer's picture

Investigation of this CNBC bullshit game is 1,000,000 times more likely than investigation of the real frauds and criminals on Wall Street.

Sat, 10/22/2011 - 10:06 | 1799839 LongSoupLine
LongSoupLine's picture

Yeah, I'll bet the SEC "tech pros" swarmed CNBC HQ...not to enforce, but rather how they caught the problem.

f'ing idiots.

Fri, 10/21/2011 - 20:18 | 1799144 Restcase
Restcase's picture

I joined the game a week late and the leaderboard was then filled with "players" (machines?) who had already doubled their notional $1 million stake. There was no one on the board who had not added $1 million in seven days.

You figure the average CNBC viewer is a Jim Cramerite who applies his genius to pick stocks (or follow tips) that will give him a stupendous 10% gain in the course of a year and you wonder .. eh ... huh?

If a CNBC game can discover scores of instant millionaire traders, may I suggest CNBC hire these "people" and shift to a whole new new biz model?

Bank of CNBC? CNBC Hedge-arama? Goldman Sachs, CNBC Division?

Fri, 10/21/2011 - 20:27 | 1799178 Restcase
Restcase's picture

BTW, here are some more technical glitches in this game:

(1) Restricted roster of available exchange listings

(2) All buys at market, all sells at market.

(3) No stop loss.

(4) No control over lot size fulfillment. 10k share orders fill at 5k.

(5) Buy-sell without CNBC price quote - assume it's realtime, assume it's what you think it is!

Hey! it's just a game. But let's see the winner's trading tickets.

Fri, 10/21/2011 - 21:29 | 1799291 Stoploss
Stoploss's picture

#3 is clearly a bullshit rule.

 

Oh, and ========== FUCK THE FED =============

Sat, 10/22/2011 - 08:54 | 1799775 Hedge Fund of One
Hedge Fund of One's picture

I would have liked more trading platform-like capabilities like stop-losses, limit orders, etc. If the rules would be evenly applied to all, then it would be fair, and I could accept the limitations. However, if the system allows unfair advantage by cheaters, then I have a problem.

 

Sat, 10/22/2011 - 10:16 | 1799846 Marco
Marco's picture

Really though all that stuff is antiquated shit ... they are in reality bad algos which are preyed upon by the good algos.

Sat, 10/22/2011 - 10:49 | 1799869 RSloane
RSloane's picture

We already have Goldman Sachs, CNBC division.

Fri, 10/21/2011 - 20:15 | 1799147 fuu
fuu's picture

The E*Trade link leads to a removed video. This one works: http://www.youtube.com/watch?v=AYrpROr9Gmk

Fri, 10/21/2011 - 20:15 | 1799151 cowdiddly
cowdiddly's picture

So easy even a Cave-bot can do it.

And here I was trying to compete with my Tandy 1088 with dial up SVC.

Fri, 10/21/2011 - 20:43 | 1799209 Long-John-Silver
Long-John-Silver's picture

My Tandy TRS-80 Model 102 still works. I no longer use it for trading but it's great for plugging into the data port of an old orphaned CNC machine in case the display is dead. I can crank up the machine and test operate it to see if it's worth upgrading with a new controller. I have no idea what I I'm going to do if it dies. Modern computers simply can not be connected to these old controllers.

Fri, 10/21/2011 - 21:03 | 1799243 Wannabee
Wannabee's picture

@L-J-S,

Fond memories. Our team has a circa '98 Data General laptop, DOS, for the same purpose.

Fri, 10/21/2011 - 21:05 | 1799246 Wannabee
Wannabee's picture

check the '98. Meant '91. Getting old...

Sat, 10/22/2011 - 09:39 | 1799814 krispkritter
krispkritter's picture

Crap! I used to use those things.  Had one up until about 5 years ago and sold it on Ebay. That's probably the only place to find one again these days. You can use searchtempest.com to search Craigslist countrywide too. Now I'm waxing nostalgic for Tandy...

Fri, 10/21/2011 - 20:14 | 1799154 Nate H
Nate H's picture

It's actually a good dry run for the people in the lead, for in their real life.

Fri, 10/21/2011 - 20:14 | 1799155 buzzsaw99
buzzsaw99's picture

cheaters always win

Fri, 10/21/2011 - 20:17 | 1799159 eureka
eureka's picture

Simple solution:  Shoot Them!

It worked in the west, it'll work in the east.

Fri, 10/21/2011 - 20:25 | 1799177 knukles
knukles's picture

Nothing Like a Good Hanging to Focus the Mind

Fri, 10/21/2011 - 21:57 | 1799336 tickhound
tickhound's picture

Especially now that CNBC is finally 'crackin' down'

Sat, 10/22/2011 - 05:34 | 1799689 FinHits
FinHits's picture

and reset to zero and start all over again. It is more profitable that way.

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