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Personal Finance: Looking for what other people are buying? – Motley Fool Caps

http://caps.fool.com

Motley Fool CAPS is a site for social stock picking.  I don’t even know if there’s a phrase called social stock picking but it sounds good enough.  At least its not social nose picking.  From what I read in their FAQ section, the site works by having registered users called players who pick stocks and make a guess on how well it will do.  The players might be some monkeys throwing darts on the stock section of the newspaper, I’ve heard they fare as well as humans.  Once the players make their guesses, CAPS calculates how well they did in their guesses.  The players get a rating and the stocks do too.  As a player gets more credibility by making more and more accurate guesses, they have more weight on the rating of the stocks.  So the benefit for the rest of us fools is we get to find out which stocks have the highest ratings as well as the peeking at the top player’s selections.  The site also holds contests where you can win some money.

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