Amid Volatility, a Defensive Play Wins Stock-Picking Competition
Corrections & Amplifications</br></br>Contest Correction: Because of a calculation error and the failure to take into account a stock split, this column selected the wrong winner in last month's stock-picking contest. The real winner: Paul Zweng of Palo Alto Investors, whose selection, Palo Alto-based ClickAction, was the top-performing stock for the first six months of the year. After taking into account a 2-for-1 stock split in April, ClickAction posted a 17.4% gain for the period. Mr. Zweng, who was a good sport about the mistake, will return to compete in a future contest. (WSJ -- August 16, 2000)</br></br>Sometimes the best offense is a good defense.</br></br>That was certainly the case in the latest round of Heard in California's semiannual stock-picking contest. The winner: Scott Hood of First Wilshire Securities Management in Pasadena, whose pick -- East West Bancorp -- had the best showing during the six months ended July 5. The San Marino banking concern, chosen as a defensive play during a period of market volatility, was up 20%, closing July 5 at $14.563.</br></br>Mr. Hood's victory marked the first time since the contest started in January 1999 that a professional came out on top. In our contest, three pros compete against each other and a team of students who've won the latest round of a statewide stock-market game for school kids. Contestants pick a California company that they think will have the best return in six months.