Portfolios with Purpose has announced that entries for its next stock selection competition close on 22 January (Sunday). There is still time to enter this for charity trading competition, which provides amateur and novice stock selectors with the opportunity to compete against the professionals. Last year a total of 650 players competed, playing for a total of $416,000.
Last year’s winner of the Masterclass segment was Mark Yusko, CEO and CIO of Morgan Creek Capital Management. Yusko made a return of 123% and won over $170,000 for his charity, Meals on Wheels of Chapel Hill. Second place was hedge fund manager David Einhorn of Greenlight Capital.
A clutch of famous money managers have signed up for this year’s competition, among them Yusko and Einhorn, Leon Cooperman of Omega Advisors, Marc Lasry of Avenue Capital Group, Bill Miller of Legg Mason, and Barry Rosenstein of Jana Partners.
“PwP’s contest is a fantastic way to engage with our industry and to give back to our communities,” said Yusko.
The competition was established in 2011 with the aim of letting the general public compete as stock pickers against some of the best money managers in the business.
Stacey Asher, the founder and organiser of the event, said there was still time for stock pickers to join up. The event is split into different classes: Masterclass traders tend to be established money managers running their own funds. Professional stock pickers can join the Professional class; last year this class was won by Eric Fry, who generated 150% in his portfolio. The Novice class was won by Richard Porteous, who made 127%.
Investors and traders interested in the competition should go to www.portfolioswithpurpose.org to register. Hurry, there’s not much time.