Compromised market games sure do imitate real life

Take a read of an article by Chuck Jaffe about recent stock picking fun at CNBC. An excerpt:

The story involved the shenanigans that have occurred in two well-publicized stock-picking competitions, one run by and the other by cable business-news channel CNBC. TheStreet has called off the first round of its “Beat the Street” competition because some contestants apparently had taken advantage of the system by which the game was being run. The site didn’t disclose exactly how the purported cheats were gaming the system, but said all of the participants of the first contest could enter its next stock competition, and that the $100,000 in prize money will carry over and be part of a much bigger prize for the next go-round.