Comedian Auggie Smith – who used a pellet gun to pick his favorite stocks – is trouncing the experts in our 2013 stock picking competition! Here are the current standings, with each participant starting with a $10,000 portfolio on January 1st:
Auggie is in first place, with a current balance of $14,374! Auggie’s portfolio was rocketed by two long shots – Best Buy and Yelp, which have more than tripled in value. His biggest losers are Ambow Education, which has lost 60% of its value, and The Nuveen California Performance Fund (also run by so-called experts).
The experts at Barrons are a distant second at with a balance of $11,850. 30% of their stocks have lost value, with Western Digital their best performer, and Apple the worst.
The low cost Vanguard Growth Fund is right behind Barrons with a value of $11,701.
Now I’m just spit balling here, but…..is it possible the brain trust on Wall Street doesn’t know what they are talking about? Or is Auggie some kind of financial savant? There are still several months left in the competition – and time will tell!