by CI Staff
Stockpickr is a wholly owned subsidiary of TheStreet, which is best known for its founder, former hedge fund manager and current Mad Money Presenter Jim Cramer. Stockpickr combines social networking with stock investment ideas to create a professional, yet incredibly open and useful, service. Registered members are able to create and share multiple portfolios on the website, including a description of the portfolio and their reasons for choosing particular stocks. Members can follow other users as well as user-generated portfolios and even professional portfolios, such as those of Warren Buffett and Carl Icahn.
The Community section of Stockpickr is one of the most useful areas of the website, as it allows users to share ideas, get feedback and ask questions. This section can also be useful for those seeking potential investments. In his book, “One Up on Wall Street,” Peter Lynch explains that a great place to start investing is with companies you know well for a reason outside of investing, such as if you shop at a particular store over its competitors. The next best thing is to listen to another’s story or opinion about a certain company outside the context of investing. The forums on Stockpickr are full of such stories. For instance, one member wrote about his experience at Buffalo Wild Wings (BWLD), saying that he was impressed by how busy the restaurant chain he went to was. With so many publicly traded companies to choose from, such stories are a great way to bring potentially successful investments into your radar.
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