Rules (Trying to keep it as similar as possible to previous years).
- Pick a fancy name for your hedge fund.
- Before 9:30 am EST on 6 Jan 2017, in this thread, pick up to three stocks to go long and up to three to short. Equal dollar amounts are placed on each position, long or short.
- Since time is limited and a new group running this contest, the opening prices will be based on Jan 6th close.
- No trades during the year, except that you can elect at any time during normal exchange business hours to "freeze" a price for any individual position at that day's closing price, i.e. liquidate any position. (Each position carries this option; you can choose to freeze different positions on different days.) Other than that, you're stuck with what you choose for the year.
- If a stock is taken out in a merger or a bankruptcy during 2017, I will do my best to do the right thing. An all cash offer will result in a freeze at the takeout price. An all stock offer will result in the conversion of the position to the acquiring company's shares. Mixed cash and stock offers, you'll just have to trust me to saw things off fairly.
- The universe from which to choose is the Russell 3000 http://www.ftserussell.com/files/support-documents/membership-russell-3000. If you pick shares not on this list and it's not caught and corrected before the deadline, your portfolio will be disqualified.
Edit: To be extra clear, dividends won't be counted. This is because how it's been done in the past and also because it would be very hard to do. Thanks Tanelorn for this addendum.
This is the first year for this group running the contest so go easy on us!
The contest will be run on a public (read only) google sheet for easy automation. Good luck!
Here are the entries I have so far:
https://docs.google.com/spreadsheets/d/ ... sp=sharing
Sorry about the wide format. I could not figure out a better way to display the data and get it to sort correctly.
Note that the numbers here reflect prices opening on 1-2-2017. This is to make sure the sorting and calculations work. They will be changed to the close of Jan 6th when the contest officially opens.
Let me know if you see something wrong.