Bob Falkner’s negative view of where the stock market is heading has proven positive to his cash flow.
Falkner, of Fort Smith, is the inaugural winner of the “Where’s the Dow Now?” contest. The contest is managed by The City Wire and sponsored by Arvest.
“Where’s the Dow Now?” offers readers the chance to prognosticate on the quarterly direction of the stock market via the Dow Jones Industrial Average (DJIA). The winner receives $150. The reader also selects a non-profit that will receive $150.
Falkner wins $150, and the Fort Smith-based Area Agency on Aging also collects $150.
“It’s the only $150 I’ve made in the stock market this month,” said the retired Falkner.
Beth Presley, marketing director for Arvest, said the contest creates a perfect combination for the bank.
“We are big on providing community support, so the charitable aspect is important to Arvest. Along with the economic aspect (of getting people to focus on the markets), it’s a win-win for Arvest,” Presley explained.
Falkner’s guess was that the DJIA would close at 12,899 on June 29, the end of the second fiscal quarter. The DJIA closed at 12,880.09, just 18.91 points below Falkner’s prediction. Falkner submitted his entry April 20, when the Dow Jones Industrial closed at 13,029.26.
“Basically, my thought was it was going down. My only question was, ‘How much?’” Falkner explained when asked about his close prediction.
Falkner said he selected Area Agency on Aging as his charity because they helped when family members were ill.
The Area Agency on Aging has been a regional leader in providing 24-hour, in-home care to people of all ages. The non-profit operation works with each client to “realize a better quality of life through individually-tailored care,” according to the Area Agency on Aging website.
Other services provided by the Agency include case management, home cleaning, elder housing, transportation and senior citizen activity centers.
“I certainly appreciate him thinking of us,” said Jim Medley, CEO of Area Agency on Aging. “We will use the money to take care of people who are medically needy, but don’t have the funding to help with those needs. Again, it was nice for him to think of us, and we’ll put it to good use.”
ENTER THE THIRD QUARTER 2012 CONTEST
“Where’s the Dow Now?” gives you the chance to prognosticate on the quarterly direction of the stock market and possibly win a little cash for yourself and a favorite charity.
The concept is simple. Provide the closest guess as to the Sept. 28 closing number of the Dow Jones Industrial Average, and you could be $150 richer and the charity of your choice will also collect $150.
At the end of each fiscal quarter, we will profile the person with the winning entry AND the associated charity.
To enter, complete the form below no later than 5 p.m. (CST) by Aug. 17 — and only one entry per person, please. Link here for the entry form.
The charity chosen must be a 501c3 non-profit in good standing with the IRS and the Better Business Bureau. The City Wire reserves the right to request the contestant change their charitable selection.