March 14, 2008 was the last day of the first round of the NYMEX Commodities Challenge 2008.
I represented UTD Grad team in this competition. It is with great pride that I announce the results of the first round of the NYMEX Commodities Challenge 2008. Both UTD teams ended in the top 5 teams. UTD grad was placed in 4th position and UTD undergrad in the 5th place.
UT Austin ($212,560) took the top honors followed by Hofstra Grad team. ($178,760). UTD Grad managed to retain its 4th place from the previous day, with the rest of the teams swinging wildly for huge home runs. One team actually managed to land a lot of home runs. George Washington University gained a mind boggling $95,000 to move to 3rd place and ended with $166,500. . UTD Grad ended with $145,880.
UTD Undergraduate team turned in an awesome performance on the last day, gaining 4 spots and 15,000 on the last day to end in the 5th place. Their ending balance was $137,170.
Some of the teams that were left behind include : Yale, Rice, U Houston, Columbia, Penn State, Syracuse and Brown.
Brown was the only team with a negative balance at the end with a -$11,140 balance.
The most surprising result was that of Yale. Yale was placed in a seemingly winning position on March 7th with $214,030, which would have been more than the eventual balance of first placed UT. Inexplicably, Yale continued to trade heavily and lost a crazy $114,000 over the next 7 days.
The top 4 teams now move to the final round where they will all receive cash prizes.