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Oil and gold contest update #1
Friday, May 15, 2009
Here's the first update for the "Guess the Mid-Year Price of Oil and Gold" contest with all entries now appearing on a scatter-chart with the current price of oil and gold in yellow.
Let's see, after brushing up against the $60 mark earlier in the week, oil ended down sharply at around $56 a barrel, two dollars lower than a week ago. It might be losing any momentum it had built up over the last month along with a number of other asset classes.
Gold, on the other hand, was resilient in recent days, rising about two percent during the week as nearly everything else went down, ending at about $931 an ounce.
Current prices put PE's guesses ($57, $925) closest with BCD ($57, $912) not far behind and OMTM, MA, and oilcan hold the next three spots in the top five. All 81 guesses have been listed below, so be sure to see that yours is included (this is a manual, labor intensive process).
The averages were $59 for oil and $936 for gold and there are further details about the contest from this first post on the subject back on April 28th.
The chart at the top of this post will be updated on most Fridays between now and the end of June when the contest concludes. The winner will receive a free one-year subscription to the companion investment website Iacono Research where the model portfolio had a better week than most, down just 1.6 percent but still up almost 12 percent for the year.
A complete tally of contest guesses...
From the April 28th post:
From the May 5th post:
From the May 12th post:
Sent to Yahoo! mail:
Sent to IaconoResearch mail:
1 comments:
I think I am in good shape to win this time!
Thanks Tim for stopping by last night, I appreciate it.
I got a hold of the letter the Treasury sent to Mark Patterson to get him to recant his words about TARP, copy is as follows:
To: Mark Patterson of MatlinPatterson
From: The Treasury, you Punk
Re: Stupid words, but we can save this thing yet!
Mr. Patterson,
We at the Treasury were deeply saddened to read your comments made in Qatar concerning the TARP program. While we bent over backwards to hand out money so you and your ilk could spend taxpayer money to enrich yourselves, we are rewarded with this kind of slap across the face. Here at the Treasury we have a saying:
"Don't' Piss Down My Back and Tell Me It's Raining!"
Which yes, we stole from the "Outlaw Josey Wales"; regardless please be advised that we do not take kindly to being portrayed as ripping off the public, we are doing that, but to say so is poor taste.
Luckily after review of your comment transcript we at the Treasury have a way this can be fixed. Please find the text of what your new comments to be made, no later than Friday Morinng May 15th, will include. Do not change or alter these words in any way:
"On my comments in Qatar I would like to clarify some items that were fabricated, misstated, misquoted, and mischaracterized. While I did use the word "sham" what was not reported was that I stated that the TARP program was in fact a huge "SHAM-WOW" that was in effect sopping up the market ills of bad assets. This service is vital to the smooth flow of credit to households and small business. It has been reported that I said the taxpayers were getting "ripped off" but if you listen to the transcript closely you will hear that what I said was that losses for the taxpayer on TARP had been "WRITTEN OFF" as impossible because the deal they were getting was so awesome.
Thanks in advance for any corrections and any removal of any archived web material that states otherwise.
Mark Patterson"
The Treasury trusts you will follow our guidelines as not to jeopardize the bank secondary offerings during this silly market bounce. Not that we are threatening you, but we do control the IRS and your MySpace page does include many "friends" of the female gender that are, how shall we say, of an age bracket that may become inconvenient should the FBI want to look into it. Not that we control the FBI.
Thanks in Advance,
The Treasury, you punk.
Totally kidding! But would it be so crazy?
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