However, merely looking at the year-end closing price and comparing it to the prior year’s close, ignores the fact that the market was quite volatile this year. Looking at the high-low range on the Index, it becomes clear that stocks really moved around quite a bit in 2011. The S&P 500’s high point for the year was about 1370, representing an 8.9% increase from 2010’s close, while the low point was 1075, representing a 14.5% decline from the year-end 2010 level.
Of course, in our stock market contest, the aim is to pick the S&P 500’s level at year end. What happens throughout the year doesn’t matter much for our purposes. To those of you who sold at the high and bought at the low, congratulations. Your portfolio might look nice, but that’s not going to help you win our contest. It’s not the journey, it’s the destination.
Before we announce the winner, let’s recap 2011’s entries, listed in the order they were received:
• MBB: 1130.00
• Doobie: 1450.00
• BrotherLawyer: 1340.00
• fil: 1450.00
• wolfman: 1440.00
• rabbim: 1298.00
(In accordance with the official IcebergCarwash style manual, I have quoted all S&P 500 Index prices to two decimal places).
The winner of the Third Annual IcebergCarwash Stock Market Contest is rabbim, who predicted the year-end level of the S&P 500 Index within 3.2%.
An announcement regarding this year’s prize will be forthcoming.
Congratulations!
1 comment:
Here in the Midwest we are kvelling at the second icebergcarwash contest win in 2 years. Whoo Hoo
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