Wednesday, May 9, 2007

Stock Market Social Networks - Find the Next Warren Buffett

Recent start ups Stockalicious and RockYourStock are the next wave of investment tools that can be used by easily misled beginners all the way up to easily misled expert investors. These social communities could be great at offering investment advice without getting charged hefty fees. Also could be dangerous because of easy manipulation. is "a clever site that helps you examine your investment habits by putting all of your stocks in one place. By looking at your trading habits on the site, you can see when you purchased stocks, whether you are trading too early, or if your portfolio holds up against the market, and even personal notes about why you make trades. If you think all of this info should be spread around to your buddies, you can spam your friends. On the other hand if you’d like it to remain private, you can embed your portfolio in your blog. All you have to do is register for free to get started on your portfolio."(K)

From Stockalicious you are able to watch how others are faring in the market and if you notice someone consistently making the right moves, you could copy his portfolio.

On the other hand, RockYourStock "is a funky cool, high-octane and constantly updated website that brings the investment world out from the grey towers of Wall Street and puts it into context for you, the everyday consumer. Each day we’ll blog on companies that you interact with all the time to bring to light ‘hidden gem’ investment opportunities."

It can make investing a little more fun. They have four featured portfolios on their site; the fruitbasket, bastard fund, granola fund, and icebucket. Description of the bastard fund: "The stocks chosen participate in activities or manufacture products that many consider sinful. We at Rock Your Stock are agnostics. We only care about the business. We’re not here to judge anything or anyone; except for the quality of investment."

Look to leverage long the stock picking social networks, because at least now you can do what everyone else is doing...