Stockpickr and Social Stockpicking Networks

While I’m generally skeptical of attempts to harness people into social networks for the purpose of picking stocks — it reminds me of the adage that two rocks lashed together still don’t fly — I like what my friend James Altucher is doing at the fascinating Stockpickr.

He has an incredible assortment of “edge” portfolios, ranging from pro-only stuff, like Warren Buffett’s and Stevie Cohen’s current holdings, to funky contributor stuff. But he also has portfolios collected from other media, like Kiplinger’s, TheStreet, plus — and much more interesting from my perspective — portfolios created quasi-autonomously, like this one from the Amazon’s bestseller’s list.

James has done really rich and fascinating stuff here, very different from what you might expect having cut your teeth on first-generation stock-related social nets, like Motley Fool, et al. Check it out.

Related posts:

  1. PNAS Geek-Out, Part III: Geographic Routing in Social Networks
  2. Dash.net and Anti-Social Networks
  3. Merging Search & Social Networks
  4. Social Photo Networks? Pshaw!
  5. The Dark Side of Social Networks

Comments

  1. John Forman says:

    While I tend to agree that stock picking and otherwise “trading by commitee” usually doesn’t work out all that well, I can definitely see the value in people working together in the markets. If nothing else, having to explain your stock selection and/or entry timing justification with someone else will make you more prone to do thorough analysis and less apt to make impulse trades.

  2. Andrew says:

    It’s worth pointing out this Wallstrip episode today since it’s all about Stockpickr:
    http://www.wallstrip.com/theshow/2007/01/18/1-18-07-wallstrip-chat/

  3. jeremy liew says:

    i posted on this a couple of weeks ago – my belief is that without real trading information these social stock picking sites risk being spammy. Hence you need an “implicit web” approach. If you’re interested, click my name in the comment to read the post

  4. Theo says:

    Indeed there are a lot of new social stock picking sites out there but I agree with the last commenter about most of them being spammy. We do things differently at StokBlogs.com. At StokBlogs, our members blog about stocks and have virtual portfolios. That way, you can see over time who knows what they are doing from their performance rankings. We show transactions, holdings, dividends, and each user’s portfolio.