MSFT AAPL brains create new CAPS (did they not know there was one already?)
Seriously? They couldn't Google this and figure it out for themselves? And they put money behind it? And what kind of name did they pick anyway? Geez.
So, some well known brains from MSFT and AAPL ( a co-founder of AAPL and a Microsoft exec) have come up with a site that uses collective knowledge to rank stocks - the wisdom of crowds. Hmm, why does that sound familiar?
So the site looks ok, but I was turned off already. Why was I turned off you might ask? Because I can't find out the rating for a stock, unless I rate it myself! Hmmm, imagine that I am a biotech investing neophyte or idiot (either word would possibly describe my ability to pick biotechs), and then imagine that if I want to see what the crowd has determined - that I must vote first! You don't want my vote on a biotech, believe me you don't! But I'd like to know what you think! That's why I have so many biotech experts marked as favorites - I want to know what *they* think.
Also unknown, is whether they gradually rank people and then value the higher ranked votes more. I've seen lots of debates about CAPS and the rankings, but I think we can all agree that someone in the top couple thousand with a lot of picks rated and high accuracy should have more influence than some pumper who comes in and picks only one stock and has no track record.
Here's the Marketwatch story that told me about this silly site: Big Apple, Microsoft names back stock-picking site
By John Letzing
, MarketWatch SAN FRANCISCO (MarketWatch) -- Apple Inc. co-founder Mike Markkula and Microsoft Corp. executive Mike McCue are backing an Internet start-up designed to let stock-market investors trade on the collective wisdom of its users.
And here's the site that it references: www.piqqem.com
Just seems weird to me.