Even if it's fake money, earning $28 million isn't a bad week's work.
Richard Lewis, a Los Angeles structural engineer, added a stunning $28,267,564 to his
TheStreet.com Investment Challenge
total last week, pushing his portfolio to $35,757,150. His gain was the best in the fourth week of this round of the challenge. He also finished in the top overall spot.
Lewis made his gains by trading IPOs. "I am in and out of IPOs very fast," Lewis says, "and try not to look back." Among some of the stocks he traded were
A new name in the challenge's upper ranks is Tim Weidinger, a Minnetonka, Minn., financial advisor who finished well off the pace in the previous round. "I took a lunch while I was short a volatile new issue and got buried," Weidinger says.
So far in this round, he's off to a strong start, finishing last week with the second-biggest gain and in the overall No. 2 spot. Weidinger upped his portfolio $16,628,545 for the week, bringing his total to an impressive $28,918,209. He made the bulk of his gains last week by trading
, McAfee.com and
. However, he took a hit on a few bad trades involving
The third-best weekly gainer was none other than Chris Jorgensen. The trader from Spokane, Wash., dominated the challenge during the first half of the previous round, but was overtaken at the end by Brian Tingley. For the week, he added $15,612,355 to his portfolio, bringing it to $27,577,687. He finished in the No. 3 overall spot.
The fourth- and fifth-best weekly gainers were William Sears and Paul Wilson, respectively. Sears accrued $7,115,824 for the week, giving him a total of $14,478,560, which ranked him No. 4 overall; Wilson gained $6,432,509 for the week, giving him $6,696,248, which put him in the No. 9 spot.
Trading ends Dec. 17.