2014 Contest Rules:
Assuming there are enough folks who want to participate in a 2014 Biotech Stock Charity Contest, I’m willing to take on the scorekeeper role for another year. However, remembering the conflict over the 2013 rules, I’m hoping we can avoid a similar hassle for the 2014 Contest.
The major 2013 rules disagreement involved setting the initial base prices for portfolio stocks. A number of contestants felt the rules were unfair to those submitting late entries, since the initial prices for their portfolio stocks were set higher than for the portfolios submitted prior to the 12/31/12 deadline.
I was sufficiently distressed by the 2013 Contest rules conflict to declare that I no longer wanted to be solely responsible for setting the rules for future contests. And I haven’t changed my mind. However, I figured I can’t get into too much trouble by posting the draft proposal below and asking for feedback, suggested revisions or other ideas on setting the initial portfolio stock prices.
My proposal is based on suggestions made during the 2013 rules conflict, my own thoughts and my desire to keep my time commitment reasonable. It would be great if prospective 2014 contestants provided feedback, over the next week, so we can come to an agreement about the 2014 Contest rules by mid-December.
Here are my draft proposed rules for setting the 2014 Contest initial portfolio stock prices:
1) The absolute deadline for submitting portfolios is Sunday, January, 11, 2014, midnight PST.
2) All initial stock prices will be set at the stock’s closing price on Tuesday, December 31, 2013.
3) Any stock in a portfolio submitted after the close of trading on 12/31/13 that has increased in price 5% or more from its 12/31/13 closing price will be rejected, with a replacement requested. To determine a stock’s percentage price increase, the stock’s most recent closing price prior to submission of the portfolio will be used.
4) Portfolio stock submissions after the close of trading on 12/31/13 may also be rejected, with a replacement requested, if it appears, prior to submitting the stock pick, the contestant had knowledge of news specific to that stock that would cause a substantial increase in its stock price on the first trading day following its submission. A price increase of 5% or more on the first trading day following submission of the stock pick will be considered a substantial increase. However, despite such an increase, if a contestant affirms (under penalty of widespread derision by other contestants) that the market-moving news was not a factor in selecting the stock for her/his portfolio, the stock pick will not be rejected.
5) A contestant will have the right of appeal to other contestants any ruling I make regarding portfolio stock picks. In the event of such an appeal, I will change my ruling if a majority of other contestants, who indicate their opinion on the appeal, want me to do so.
Again, please let me know what you think about the above proposal by the end of next week.
Happy Thanksgiving!
Peace & good health,
Bulba |
