I Like CAPS But...
I don't think it truly serves it's purpose. Or maybe I just have the wrong outlook. To me CAPS should be a place for people to make picks for investments. After all, isn't that what the Motley Fool is about, investing? The scoring system rewards people for trading and taking small profits for accuracy and points.
This is my third account and the only one I will care about from here forward. My second account I created at the end of the current rally but was able to become an "all-star" after a few days just by banking lots of 5+ picks for a high accuracy rating. That isn't investing.
To me, however, the real problem is it is not beneficial to the community. This site (the Motley Fool), from what I can tell, is geared towards the individual investor as a means to educate and help them. Well if the system benefits short term trading but the site touts buying and holding, what kind of message is that sending? When I see a pick from a top player, especially if they write a pitch about it, I usually give it more weight. But if players are buying, selling for a quick 5+ points for accuracy, rebuying, selling, etc. how does that help educate?
This is not meant to be an attack on players who do this, they are just playing by the rules and should not be condemned for that. This is an attack on the system. I think CAPS the idea is fantastic; a community of investors picking and pitching stocks. But for a site that recommends buying and holding CAPS falls short.
I wonder how different things would look if people had to wait a year or more to end a pick? Perhaps then we could see how people truly feel about different companies.