Richdad III

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Win a $15 Gift Certificate to Barnes and Nobles!!
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From October 1st to October 7th simply post up why you will win Richdad III on The Portal (under Richdad 3, 1st thread) or a good luck message (ex: "good luck from Michigan USA!") and you will be automatically entered to win a $15 gift certificate to Barnes and Nobles courtesy of me, Blain Reinkensmeyer, Richad III head coordinator!!

There is no purchase necessary, but you must be registered for Richdad III to be eligble to win. The thread will only be open during opening week of the contest (October 1st - 7th), and any late posts will not be accepted. The drawing will commence the weekend of October 8th and the winner will be announced on Monday, October 10th.

If you are not a member of The Portal, you do not have to register to post. You can post as a guest, but please make sure to include either your investopedia.com username or your full name so that I can identify you. You can get to the actual thread by clicking here, http://stocktrading101.proboards61.com/index.cgi?board=talk&action=display&thread=1127071640.

Any questions feel free to email me or post up a comment, otherwise remember opening week and have a great day! Thanks and always

To the future,

Here is how money will be disbursed for this and all future Richdad contests. Contestants must join prior to the contest start date (October 3rd) to be considered for cash prizes. People joining AFTER this date will still be allowed to take place in the contest, but they will not be considered for cash prizes.

-The top 10% will win cash prizes in each contest.

-Each “prize winner” will receive 50% more than the “prize winner” directly below them in the rankings.

Here is an example…

-Lets assume there are 50 contestants so 5 "winners" (50 X 10%)
1=5.0625
2=3.375
3=2.25
4=1.5
5=1
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13.1875

I got these numbers by assigning a number one for the last place (in our example that’s 5th place) and then by multiplying by %150 for the next place (or 1.5) each time.

(1 X 1.5=1.5 1.5 X 1.5=2.25 2.25 X 1.5=3.375 and finally 3.375 X 1.5=5.0625)

I then take all these number and add them together for a total of *13.1875*

Here we assume that we raised $500.00. We take 500 and divide by 13.1875 to get *37.91* (500/13.1875 = $37.91)

And finally we take the key number of $37.91 and multiply it by the number behind each place to see how much money they win.

1st =$191.92 (5.0625 X 37.91)
2nd = $127.95 (3.375 X 37.91)
3rd = $85.30 (2.25 X 37.91)
4th = $56.87 (1.5 X 37.91)
5th = $37.91 (1 X 37.91)
________________
$499.95 (due to rounding, so give them each and extra cent)

The advantage to this formula is that it can be applied to all contests, no matter how many people take place or how much money is raised.

If you are confused, don’t feel bad. Read though it a few times, and if you still have questions please email me at markdzimmer@yahoo.com

Good Luck With Everything!
MDZ

Registration for Richdad III is nearing the half way marker!! Though contestants can still register late, getting registered early insures you are trading in the contest opening day on (October 3rd, 2005). I am very proud to report that we already have 23 registered contestants and we are on way to break past 30!!! This is a huge accomplishment for the contest as it continues to grow in popularity. I want to say thank you to all those who added our contest blog in your forum signature and have kept our threads active in the Richdad forums. Look for a post later this week from Mark giving some information on how the prize money may be distributed. As always,

To the future,

As we are waiting for the contest to start, I thought it be a good idea to have some reading material for the people who want it. Feel free to recommend books that you think would help out in our learning experience. I will start out the list. Please try to keep these to books that deal with stock trading, since that is our main focus here.

"The Intelligent Investor"
By: Benjamin Graham

Good Luck With Everything!

Mark

Alright, thanks to Ravi, our last winner, we now have a private forum where we can all discuss the contest and more. I created the actual forum, nicknamed "The Portal" yesterday (sat.), and it is up and running. The link to the forum is http://stocktrading101.proboards61.com/. I was looking over it today and it seems contest Mossfactor has already taken the pleasure of claiming he is going to win, lol. So, go there, check it out, sign up and start posting.

To the future,