It was an exciting month to watch all of the mutual fund selections race each other. Thanks to all of the competitors who participated!
In the end, Michael (from New Hampshire) held the lead the entire month and walked away with the prize pack consisting ofL:
- "Financial Freedom Experience" T-Shirt
- Copy of I Was Broke. Now I'm Not.
- A blog post recognizing the winner's amazing ability
He chose the Direxion Latin America Bull 2X Inv [DXZLX] mutual fund, and it experienced an increase of 16.6%! That is in ONE MONTH! Incredible. Apparently, Michael has a special power to choose mutual funds that grow more in one month than most of mine do in one year.
Michael, your prize pack is on its way and your competitors all look up to you for your superior selection. Nice!
Here are the final standings.
I hope everyone learned from this contest! I would especially want each person to note the following:
- I view mutual funds as appropriate investments for the long term (five years or longer). Mutual funds go up and down in value over the short term, and tend to go up in value over the long term.
- Mutual funds can go up or down in a hurry. This is another reason that I hold my mutual funds for the long term. I am not good enough to predict when a mutual fund will experience rapid growth or when it will cease rapid loss. So I invest and let it ride. This strategy has worked well for me so far! I rebalance my portfolio once a year.
- Did you notice the variety of mutual funds in this contest? My hope is that each person will at least learn about the mutual funds available within one's 401(k) or similar retirement plan.
Readers: What have you learned as a result of watching this contest unfold? Please share your comment!