Forget that hockey pool: Advisors -- surreptitiously, perhaps -- are expected to be among thousands signing up for a national competition to test the trading prowess of investors.
Forget that hockey pool: Advisors -- surreptitiously, perhaps -- are expected to be among thousands signing up for a national competition to test the trading prowess of investors.
The Biggest Winner Trading Competition kicked off early this week and will close November 15. In that time, some 3,000 investors will use the contest to make simulated buys and sales of the 72 ETFs available to Canadians.
The competitor with the highest six-week cumulative return will take home $7,500 and, more importantly, the bragging rights that go with it.
The latter is no insignificant lure, say organizers.
"ETFs are increasingly popular on financial markets, and simulations provide an excellent opportunity to find out more about them," said Nancy Paque, president of National Bank Direct Brokerage -- one of the two industry players behind the contest. "Using simulations is also a risk-free way for independent investors to test out their investment skills."
Nearly 3,000 Canadians participated in the previous two Biggest Winner Trading Competitions, with at least one Toronto advisor admitting he placed below one of his own clients in the rankings.
It's why many industry professionals are secretly working their "fantasy teams."
Registration is open throughout the competition by visiting the contest website:
http://thebiggestwinner.stocktrak.com/home.aspx.
