1st Might Be Taken, But 2nd to 4th is Very Close

Well, Week 7 of our UCU Investment Challenge III has come to an end, and it was a difficult week for stocks, as markets swung both up and down depending on who in the US was speaking out regarding progress on the "Fiscal Cliff" talks.  When Democrats spoke optimistically about reaching an agreement before year's end, markets ran strongly higher.  When Republicans spoke out that the two sides were still far apart, markets nose dived.  Europe also added to the volatility, as they struggle with helping Greece avoid default.

One bright spot in Canadian equities that has helped several of our portfolios has been the recent performance of Research in Motion (RIM).  With strong buzz developing regarding the Blackberry 10, RIM shares rose from $8.50/share mid November to around $11.50/share currently.  During the comparable period, Apple (AAPL) shares have also rebounded, from close to $520/share to about $590/share, after falling fairly aggressively during the first four weeks of our contest (approximately $640/share to $520/share).

Now for how our contest is developing, we see that George F. remains in 1st Place, whose portfolio is up 132% so far.  George made a good pick at the start of the contest, and traded well to lock in those gains, and seems to be in a position to coast to the finish.  In 2nd Place, Andrew R., has seen almost a 28% return in his portfolio since the start of the contest.  Andrew's portfolio has been fairly strong throughout the contest and has benefitted from RIM's recent strength.  In 3rd Place we see Oleh F., whose portfolio is in the Top 3 for the first time this contest.  He checked in to the end of Week 7 with a 25% gain, where Green Mountain Coffee has been the driver of his strong returns. 

Within striking distance of the Leader Board we have Peter Tr. (up 23% so far), Ihor D. (up almost 17%), Thomas W. (up 14%) and Roman B. (also up 14%).