Thursday, November 19, 2009

Investment competitions in France

I have entered two investment competitions sponsored by the magazine "Capital",, in France.

One is to invest a fake 5 million euro portfolio in different currencies. In order to do so, you create a "demo" account in RTFX, through the magazine competition page, and buy or short seven different currency combinations (only major currencies, unfortunately - otherwise, I would be buying Australian and Canadian dollars :-)

The accounts with the top 20 performances win a total of 27,000 euro each month, which is then placed in a real account.

At the end of the competition, 100,000 euro is divided amongst the best 15 performers.

It is fun, and after a couple of hours of competition, I have won about 3,000 (fake, alas) euro - betting against USD, GBP and JPY, and in favor of EUR and CHF - no great science, there.

The same magazine has another competition, in which you invest 1,000 real euro in French stocks and bonds. The top 20 investors each month share 40,000 euro in prizes. To participate in this competition, you have to fill out a long questionnaire, and send a check (or transfer) for 1,000 real euro.

This is a fun way to practice your investment skills.

By the way, why is the plural of euro "euro"? In other languages, euros is used!