Following a week of market declines as the world waited for Greece to ratify further budget austerity to gain access to a second financial aid package, the Fourth Week of the UCU 2 Investment Challenge wrapped up.
This current week, Week Five, is trade week, where we allow any one to make trades in their portfolios, with the closing prices on Friday, February 17th being our marks for both sells and buys. We will post an updated stock screen with valuations and price momentum indicators to our website to help those looking for ideas.
Back to Week Four results. We are pleased to see that even though the week was a rough one - the TSX Composite was down over 1.35% on the week, while in the US the Dow Jones Industrial Average was down about a third of a percent and the S&P 500 Index was down a touch as well, we saw some portfolios post impressive weekly gains.
Here we highlight George F.'s portfolio, which returned 34% on the week. The second strongest performer was Alexandra F.'s portfolio, which returned 8.5% on the week, and helped her move into 4th position in our contest, less than $1,000 behind the third place spot. Other strong performers included: Giovanni V. with a 5.7% return on the week; Boris B. with a 4.4% return, and; Kelly M. and Alexander R., both with a 4.1% weekly return.
The portfolios in the winner's circle are in a tight race, where Volodymyr V. remains in top spot for the second week in a row, and his portfolio has returned 22% over the first four weeks. In second spot is Adam M., whose portfolio is up 17% so far, while in third is Matthew R., up 15% for the same period.
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