January 9, 2007 at 7:10 Web 2.0 came to traders
The idea for creating the Stockpickr website belongs to stock market analyst James Altucher. Judging by the name of the service with a characteristic omission of the letter, James borrowed the idea from the social photo service Flickr . Indeed, they have a lot in common. Actually, the stockpicker is an analogue of the flicker, only for stocks.
The main idea of Stockpickr is to use the collective mind of a community of traders and investors. The user in the registration process indicates which shares he has in his portfolio, and also writes the reason for choosing each issuer. The system analyzes the behavior of thousands of traders with the same stocks in the portfolio and on this basis makes up personal recommendations. For example, if we specify the tickers GOOG (Google), MSFT (Microsoft), BIDU (Baidu) and YHOO (Yahoo), then the system will recommend buying MO (Altria Group), CSCO (Cisco), NYX (NYSE Group), and SLI (SL Industries).
Separately shown recommendations from professionals and non-professionals of the stock market. For each issuer, the system shows how many investors have these shares in their portfolio. For example, only one investor has stock in SL Industries. Obviously, the Stockpickr recommendation algorithm takes into account not only the opinions of other traders, but also the overall rating of these shares, the dynamics of the rate and other parameters. It is also interesting that the recommendations change every day .
The database contains portfolios of all registered users (you can see who looks like you and make friends with this person), as well as portfolios of famous billionaire financiers: Warren Buffett , George Sorosetc. Information about their assets is updated daily, so you can analyze the train of thought of a billionaire or simply copy its actions, without any analysis.
Last week, it became known that TheStreet.com , the largest and oldest exchange gaming website, became Stockpickr’s partner . That is, serious financiers have adopted Web 2.0 and will now probably begin to use the collective mind to the fullest.
The main idea of Stockpickr is to use the collective mind of a community of traders and investors. The user in the registration process indicates which shares he has in his portfolio, and also writes the reason for choosing each issuer. The system analyzes the behavior of thousands of traders with the same stocks in the portfolio and on this basis makes up personal recommendations. For example, if we specify the tickers GOOG (Google), MSFT (Microsoft), BIDU (Baidu) and YHOO (Yahoo), then the system will recommend buying MO (Altria Group), CSCO (Cisco), NYX (NYSE Group), and SLI (SL Industries).
Separately shown recommendations from professionals and non-professionals of the stock market. For each issuer, the system shows how many investors have these shares in their portfolio. For example, only one investor has stock in SL Industries. Obviously, the Stockpickr recommendation algorithm takes into account not only the opinions of other traders, but also the overall rating of these shares, the dynamics of the rate and other parameters. It is also interesting that the recommendations change every day .
The database contains portfolios of all registered users (you can see who looks like you and make friends with this person), as well as portfolios of famous billionaire financiers: Warren Buffett , George Sorosetc. Information about their assets is updated daily, so you can analyze the train of thought of a billionaire or simply copy its actions, without any analysis.
Last week, it became known that TheStreet.com , the largest and oldest exchange gaming website, became Stockpickr’s partner . That is, serious financiers have adopted Web 2.0 and will now probably begin to use the collective mind to the fullest.