Comments on: Piqqem: Crowdsourcing Stock Picks

By: Lazy Man

Lazy Man — Fri, 01 May 2009 02:34:59 +0000

I couldn’t tell you… don’t use either service.

By: Schwamie

Schwamie — Thu, 30 Apr 2009 20:00:31 +0000

How is this different from Mottley Fool?

By: Stephanie Gerson

Stephanie Gerson — Mon, 24 Nov 2008 17:50:30 +0000

@WeSeed Writer – the Freakonomics dudes are semi-involved on this one, they wrote about the pre-Piqqem app back in August. but I agree, it would be great to get their take on Piqqem now, if you know anyone….

@RCDL – I’m with Lazy Man. the stock market is a summation of the demand and supply of stock market shares, in which few big buyers following the advice of few expert analysts completely overwhelm individual investors. au contraire, Piqqem gives an equal vote to all investors – whether expert or not – therefore providing a much more accurate representation of what the crowd thinks. besides, the stock price today is what investors think of the company today – we want to know where the stock price is going in the future.

@FinancePuzzle – as with all new technologies, we learn about crowdsourcing by experimenting with it in many different ways! (in tech-speak, you could say we’re at the peak of inflated expectations in Gartner’s hype cycle.) in my mind, there’s nothing inherent to financial markets that makes them infertile for crowdsourcing. but doubtlessly, this will be a fascinating one to observe.

and in general, Piqqem is not advertising itself as a silver bullet, but as one in a portfolio of sources of financial info, complementary with expert analysis etc. and Piqqem is a significantly different one – different from individuals and different from the market – which makes it valuable, IMHO.

By: FinancePuzzle

FinancePuzzle — Sun, 23 Nov 2008 16:44:27 +0000

This whole crowdsourcing thing is trying to work its way into every industry….There are a few stellar examples like Threadless.com…bt when dealing with financial instruments and the regulations, I don’t think crowdsourcing will last in the stock market realm…

By: WeSeed Writer

WeSeed Writer — Fri, 21 Nov 2008 22:59:37 +0000

This is pretty interesting. Like Jim said, time will tell at how well this works. But on the other hand, it’ll be interesting to see how the recommendations change as users see how right/wrong they are with their picks.

Now THAT would be interesting…maybe we need to involve the Freakonomics dudes on this one.

By: Jim

Jim — Fri, 21 Nov 2008 19:51:50 +0000

I’d say give it 6 months and see if the picks on the site outperform the market or not.

By: Lazy Man

Lazy Man — Fri, 21 Nov 2008 15:06:42 +0000

RCDL, I think the theory is that getting the number of different people may be a better indicator of the future than a few institutional buyers.

By: Rich Credit Debt Loan

Rich Credit Debt Loan — Fri, 21 Nov 2008 14:39:14 +0000

it seems to me that the real answer piqqen is trying to generate is the # of different people that buy/sell the stock, rather than the amount bought and sold. I am not sure why that is relevant when the actual price is derived from the latter.

And the stock markets are efficient. Information is digested and reacted to faster to in this environment than any other. Prone to exaggeration perhaps, but it is surprising the numbers of times future information is already accounted for. So I don’t buy the stock price today vs the future argument either.

By: Neko

Neko — Fri, 21 Nov 2008 07:52:45 +0000

There is something similair to this called Intrade (Intrade.com) only it deals with events and politics. I think it is just another gimmick like wizetrade.

- Neko

By: Brett

Brett — Fri, 21 Nov 2008 04:53:42 +0000

“However, aren’t the equity markets essentially an example of very efficient crowdsourcing? It seems to me that the best value of something can be gauged by people voting with limited resources that are dear to them – in this case people investing with their hard earned dollars by actually investing in an equity.”

Exactly my thoughts. Why would I want to listen to a stock pick by someone who would not be willing to buy it with their own money? Buying it with your own money is voting for a stock and the purest form of crowd sourcing. Isn’t that why gambling markets can better predict outcomes – because people are putting real money on the line.

Although the markets themselves can be wrong and can swing with popularity, I think that you would see similar behavior in crowd sourcing stock picks. Plus, you should see lots of bogus data points. Anyone who has browsed Yahoo Finance’s message boards knows that.

I remain absolutely unconvinced of their response and of the value of the site.