Stockpickr, an investing site founded by two New York City hedge fund managers, is giving a boost to all companies in the “investing 2.0″ sector today with their announcement of a partnership with a leader from the first generation of the web investment sector, TheStreet.com.
Stockpickr took an equity investment from TheStreet pursuant to the deal, although the size of the investment is not being disclosed. The deal also includes extensive advertising on the stockpickr site and featuring of the stockpickr service on the Street.com web properties. This partnership with TheStreet, one of the first web companies to essentially monetize blogging, is quite obviously a big deal for stockpickr. Anyone in this space who can somehow tie itself to the ubiquitous Jim Cramer (The Street’s largest stockholder) is bound to benefit.
The site bills itself as “the stock idea network” and the tag line is accurate. It does idea generation very well by offering the community portfolios from publicly available investing information of experts like Warren Buffett, George Soros and Mark Cuban, among others. Since there is enough data to suggest most of us can’t pick stocks, a one stop shop for tracking guys who can beat the market is pretty cool.
There are also a number of portfolios from the community and all the usual current community features are available to users. You can rate portfolios, be directed to similar portfolios and get recommendations of stocks within similar portfolios to help you assemble your own. There’s a cool voyeuristic element to the site, so it doesn’t take long to get lost on it and before long you’ve got a watch list of stocks. While you can’t trade or manage a real portfolio here, it does what it claims to do very well, and the service would fit well as another research tool on any brokerage site.
What makes the deal really interesting is there just hasn’t been much to write about in the financial services community with respect to web 2.0. Perhaps the crater was too deep, the wounds too great from the drop in the NASDAQ, but there’s been almost no noise out of this sector. Now, in the last few months, we’re had news from SeekingAlpha, Zecco, Motley Fool and now Stockpickr. We’ve heard rumblings about other startups and new products in the space as well. The big brokerages have far bigger war chests than does TheStreet. This space could get hot in a hurry.
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Great site - should also check out http://www.stockwrap.com - surprisingly I found it on this site under their forum
Great 100% free program. Its interesting that no big compaies have really taken a pull into this space.
I think the thing that restricts sites the most is the fee’s associated with exchange licences. I work for a US broker firm, and while its nothing for the big guys its a big margin for the little guys trying to get into this space.
Jamie
Helllooo - http://www.seekingalpha.com
The guys who did web2.0 prediction markets - http://www.inklingmarkets.com also have a site somewhat similar to this: http:///www.worthio.com but it’s much simpler: say whether you’re bearish or bullish about a stock and a point value is calculated. you can also sort and filter with all sorts of attributes to track or find new stuff.
I’m glad stuff like stockpickr and worthio are showing up - the financial web sites need to get out of 1999.
That is interesting. I almost want to put in my portfolio of spam stocks. Not everyone wants to track winners after all. Unfortunately the volume of spam is overwhelming and so I don’t track new spam. In my case the answer is the same tracking 30 spam stocks or 150 spam stocks.
http://www.spamstocktracker.com
I do believe there are many companies that offer the modeling functionality. Whats different here is the level of automation and the look an feel of the site………
This is an interesting partnership.
Also, don’t forget about marketocracy.com which is a community of stockpickers and a very cool service.
im going to have to take this site for a spin!…never seen anything like it really..im probably just slow on the whole web 2.0 thing..thats why I read techcrunch…i guess.
http://www.worthio.com is new but extremely easy to use and get addicted to. it’s a lot like a reddit or digg for stocks since they have some kind of karma thing running in the background.
Marketocracy has been around doing this for a really long time. It doesn’t have the snazzy look and feel, but has really useful features like - allowing you to run a fund - comparing it with market indices over a period, a top 100 list and their investment methodologies, and a paid subscription service if you want more.
The WSJ today in the Personal Journal section covers some other players in the space. We’ve seen a few other companies addressing this market also at Lightspeed. If you’re interested, click on the link on my name for our thoughts on what would make this more compelling
That’s a great site and posting… I know and work with quite a few new day traders, this will be a great referral.
There’s also Socialpicks (http://socialpicks.com/about/beta), a social network for stock picking. Still in beta though. Read my review of SocialPicks here.
Do people ever post meaningful tips on their blogs? 90% of them are like spam-mails !
Mark Cuban an investing expert? I don’t think so.
Not a bad move from the Street.com. They have a great brand and reputation, it just looks like they are wanting to bring in additional services.
Check out Cramer and Co’s posts. The only challenge is that he puts out so many recommendations.
Steve, I’m with you… who in their right mind would take advice from Mark Cuban? I sure as hell wouldn’t. The guy strikes me as a complete buffoon, who happened to get very, very lucky.
The web site looks terrible and do I really care how many hedge funds own my stocks???? I don’t see the value for the average investor.
I can, however, think of some much better ideas for this financial/web 2.0 genre.
Like what, Wade?
Well Mike since u asked :), I checked out some of the other sites mentioned here and I really like the look of socialpicks. Beautiful design, easy to use, nice pie charts!
So my idea……..
We all know people LOVE to talk about THEIR stocks. So I would like to see something like socialpicks, but perhaps w/ a bit more of a blog’ish / myspace feel to it. But we really don’t want every page to look the same. You control the layout.
Imagine controlling your own financial web page…your real estate. You “run” your own stories. Import others writeups that you agree with. Support RSS.
Of course, all the “financial widgets” you could possibly want are available at your disposal to help create your site. Even add your own video rants like Cramer ! You become Cramer, get it?
The basic idea is….give people a platform to boast/promote their picks at their own “personal url” using whatever layout / widgets they choose. It would be like myspace for 40 year olds !
What nobody gets is the pros dont use these sites and the average investor could do much better buying a vanguard fund and spending the time wasted on these sites, with THEIR FAMILY. OR OUTSIDE.
I personally think these sites are fairly useless. While I’m not saying that there isn’t any value in them at all, the one thing most investors do not lack is information, and these sites just create more information (much of it useless) for investors to digest and consider. Anybody relying on these sites to make investment decisions has already lost the game. Money is not made playing the market (or “investing”). It’s made in making the market.
Welcome !!! to Bottom Fisher BOARD
http://www1.investorvillage.co.....5&pt=m
NO HYPE NO AGENDA - Just Pure Profit
Don’t forget…
http://www.socialpicks.com
http://www.stocktickr.com
http://www.digstocks.com
AOL has http://www.bloggingstocks.com
FinancialContent has http://www.streetiq.com
More reviews at http://www.investorgeeks.com/a.....tocktickr/
On a similar note, Value Investing News is another “investing 2.0″ site. However, this site focuses on sharing high quality investment news items instead of stock tips and picks. This helps the site avoid the pitfalls associated with stock picks and herd mentality that can kill novice investor returns.
Members bookmark and tag investment stories they find. Using a Reddit style voting system, only the highest quality story links make it to the front page and bad stories are deleted. The site uses Google Adsense revenue sharing and a monthly user-points prize system to motivate members. (James Altucher of Stockpickr actually sponsored this past month’s contest.) You can syndicate your bookmarks or the front page stories on to your own blog using RSS feeds and widgets. There is also a sophisticated algorithm used to generate story recommendations based on your voting patterns and those of other members.
The site is only a few months old so we are open to any suggestions for improvement.
Actually I really like stockfriend design and function. http://www.stockfriend.com, It seems still beta.
It has been interesting to see how the online stock websites have changed and evolved. I’m with Fisher Investments and another online finance site for news and information is Fisher Investments MarketMinder
I work with Fisher Investments, and there’s a great bio on our firm’s CEO and founder Ken Fisher at http://www.fool.co.uk/news/inv.....isher.aspx.
It covers his background, his career with Fisher Investments, and provides information on the various books he has authored!