CNBC: THIS Is What We Choose To Take A Stand On
CNBC has announced an investigation into “complaints of unusual trading among some of the 20 finalists in the CNBC Million Dollar Portfolio Challlenge [sic],” which was mercifully taken out back and shot on May 25. Ooo, insider trading, how trendy, how scandalous, how very “you are a bad boy,” indeed. While it’s true that we don’t necessarily have any hard evidence that this isn’t a plot by producers to drum up page views (on CNBC.com)/excitement about the Challenge and CNBC in general during this “we haven’t had a reporter go down on a source in a while, we’ve got to come up with something” period, we are allowed to speculate that this is the case, are we not? When John “I Bleed For CNBC” Carney and Tim “Pre-tax Sum of $2 million” Sykes stop taking your calls, you know something’s got to be done.
Earlier: CNBC Continues to Be Nonplussed Over Ethics, Lack Thereof
CNBC Probing Alleged Violations by Finalists in Million Dollar Challenge [CNBC]
Comments
seriously. cnbc: no one gives a shit.
Posted by: Anonymous | May 30, 2007 11:46 AM
i find it hard to believe tim sykes has stopped taking anyone's calls except maybe his margin calls
Posted by: Anonymous | May 30, 2007 11:50 AM
No details on what exactly the suspicious activities were? Is insider trading illegal in a simulated challenge?
Posted by: anonymous | May 30, 2007 12:03 PM
i figured insider trading would be the only way to actually win the damn thing
Posted by: Anonymous | May 30, 2007 01:31 PM
Are not the prices in the simulation based what is currently freely available to all (ie. 20 min delay)?
Couldn't one use any real ticker service to get a price 20min ahead of time and profit from this 20min advantage?
I really didn't look into the rules/game though.
Posted by: Anonymous | May 30, 2007 04:59 PM
No, the prices are the close prices of the day, so insider trading is an option, but speedy daytrading strategies are not.
Posted by: beanspants1 | May 30, 2007 07:47 PM