Yahoo! Finance debuts $50,000 winner-takes-all fantasy finance game

Source: Yahoo! Finance

Today, Yahoo! Finance, the leading online finance destination, launches a Fantasy Finance game sponsored by TD Ameritrade.

The twelve week online fantasy trading game (running from March 5th to May 25th) encourages players to use their business savvy to trade and invest for the chance to win one Grand prize of $50, 000 and 12 weekly prizes of $1,000 each.

How it works: Each player receives $100, 000 of fantasy money which they can use to trade a wide selection of Stocks and Exchange Traded Funds (ETF's) as listed on the major US exchanges. They will also have the chance to take a daily quiz to win an additional $100 of play money to help increase their gains. The player with the highest total portfolio value at the end of twelve weeks will win the grand prize.

Players can share the game with friends online and easily track their progress. They can also accumulate various performance badges and brag about their latest wins via Facebook and Twitter. Those on the go can check their performance and winnings on smartphones including iPhone and Android devices.

Yahoo! Finance is a trusted and comprehensive source for financial news and information. This game allows consumers to show off their trading skills, learn more about the market and win great prizes.

Jeff Macke, Co-Host of "Breakout" on Yahoo! Finance has these tips on investing mistakes to avoid:

"Recency" - Buying what has recently been up, selling what has fallen down

Chasing yesterday's winners, then panic-selling when they go down is the surest way to achieve terrible performance.

Over Confidence

Telltale signs and risks of over-confidence include trading too much and failing to properly diversify because you believe your own ideas will work so well.

Believing That Great Companies Make Great Stocks

Even though growth companies earn a lot more, "markets price for risk." The premium you must pay to own these so-called leaders, has already priced-in the higher growth rate, leading to lower expected returns.

Failing To Differentiate Between Information And Wisdom

Know the difference between e between information and something you can actually use to make money. Unless you know something that nobody else knows (which is unlikely), "information is not value relevant."

Listening to Experts Who Give Forecasts

Research shows little if any advantage can be gained by following the changing public proclamations of outspoken and often over-confident pundits.

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