Social Stock Picking

I think I found a new favorite website (and by favorite… I mean one of many): SocialPicks.com. It’s basically a social network around stock picking that provides a number of tools for stock enthusiasts and ranks your personal performance in relation to others. This is not a novel idea… there are other similar sites out there already (Investorhives, Stockpickr, etc.), but I really like SocialPicks’ simplicity and feature set.

One of my personal goals these days is to become a smart but more aggressive investor. I’ve been hesitant to throw more money at the market because I’ve wanted to maintain a reasonable amount of liquidity in my net assets (in the hopes of maybe buying property) and I feared short term losses. But I’m ready to take the plunge and I think SocialPicks may be a good way to get my feet wet.

Right now the site is in public beta and not quite ready to serve as a primary point of reference when making investment decisions… They need more users, more focused groups (though I was happy to see ‘Green Investments‘ in the list), and more diversity – the “Top Rated Stocks” are still heavily dominated by big name tech, Blue Chips, or Fortune 500s. But I’ll definitely be signing up…

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