Thursday, January 18, 2007

social stock picks

Here's an interview on Wallstrip from 1/18 with the founder of StockPickr, James Altucher. Interestingly he's short on Digg and long on blogs and blogging. Obviously he likes social networking and crowd sourcing since that's the basis for StockPickr. It will be interesting to watch the adoption rate of this type of services and others like it including Motley Fool Caps, BullPoo, and SocialPicks.


John Keeling said...

Hey Tim, thanks for the Motley Fool CAPS mention. :) As you well know, it seems like social stock picking sites are popping like Starbucks shops everywhere on the web. :)

I think there are 3 keys to building something that is valuable for investors in their stock research. First, the service must create a robust platform for sharing ideas--to some degree all of the sites you reference do this.

Second, the service must create a platform for reputation management--we must measure the performance of both professional analysts as well as the community at large.

And third, the service must aggregate the community intelligence to create valuable intellectual property. In an industry in which the breadth, depth, and even quality of professional coverage is declining, the opportunity here is significant.

At least, these are my 3 areas of focus for Motley Fool CAPS. Sites that are more "social portfolios for social portfolios sake" are likely to fizzle out like so many portfolio games have in the past. Sites all about tracking Wall Street pros and piggybacking on their ideas are somewhat 1 dimensional IMO. And even dangerous. If you're taking a backwards view of hedge fund holdings from SEC filings and such, you're likely to not adequately represent the current holdings of those funds--given the frequent trading of these managers. A lot of folks have lost a lot of money following the big guys in and out of stocks. That's why we prefer to track forward looking analyst calls than represent current fund holdings. I think GuruFocus does a great job of the latter though.

Best Regards,


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