Well that was an interesting first month of the contest. And what a month it’s been for the markets! If you go to the newly colour coded stats page you’ll see a lot of red. Out of the 197 listed portfolios, only 52 are showing a profit, so if you haven’t entered yet, you could come in now and be ahead of the majority of competitors!
As you know, the contest now has selling now enabled. With that, it took about a day for me to confirm that the can is opened and worms are everywhere! After some serious head scratching and even more serious coding, it looks like the loopholes have been plugged. Since we have a delay in live pricing, the new system now logs purchases as pending, and then executes them at live pricing once that comes in. As an additional deterrent to prevent impossible trades, infrequently traded shares are now removed from the system, and can only be added back after review by forum members. If you’d like to request a share to be added please go here.
Heading up the leaderboard is gnomez who managed to buy CRD before it was removed from the contest. He’s followed by Sparkz0629 who bought Anglogold which is currently up 20%, and then Bliksem who bought Pan Africa Resources, up 17%. I thought there would be more traders fighting for top positions, but the top trader, coming in at position 6 is Fundamental. The top 3 shares purchased so far are Telkom at R1.25 million (up 7.35%), Satrix INDI at R830k (down 4.65%) and Coronation fund managers at R790k (also down, 2.91%).