SocialPicks enables collaborative investment research

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There’s no shortage of stock market oriented communities coming online, it’s almost hard to tell them apart, but today’s entrant is particularly interesting. SocialPicks is focused on reputation building and small group collaboration. They have just begun to offer limited beta accounts.

Users enter their stock trading activities and thoughts then befriend and rate other users. Reputations are built according to a user’s percentage of winning picks, quality of insights as judged by the community and number of trades made. With commenting, feeds and a list of popular stocks that looks like a tag cloud (just charming really) this site has got most of the requisite features of a standard social network. SocialPicks believes that an emphasis on individual reputation instead of aggregate information will prevent much of the gaming that critics of social stock sites often critique.

Cofounded by Weiting Liu, SocialPicks has been responded to with enthusiasm by alpha testers – but there are many competitors and many questions about this whole class of sites.

I asked the company why successful traders would want to participate, instead of keeping their successful knowledge private. They told me that in addition to small group collaboration, SocialPicks will be a good place for would-be financial advisers to prove themselves in a public and transparent way. They told me that all too many market discussions go on in online forums, where there is no way to discern the veracity of advice.

The company is also of the belief that many people want an easy way to share their knowledge with a small group of their friends in a structured way. They are aiming for a del.icio.us model more than a digg model, they say. That’s the main part of their approach that prevents pump and dump activity, they plan to institute activity monitoring that will notify users of suspicious behavior as well.

See also Feeling Bullish (possibly the most similar to SocialPicks), Bullpoo, Gradr, Stocktickr and Digstock. Some one will come up with the winning formula in this space and SocialPicks does seem to have a well thought out strategy.

  • John Quincy

    Leena come on!, being a Microsoft Admin does not mean you worked for Microsoft. That’s actually a pretty funny mistake, TC needs to stick to consumer stories and leave real computing to actual computer people

  • http://www.edswebtech.com ANIL

    nice blog

  • http://www.hyperoffice.com/ Pankaj

    Leena,

    I would like to point out that Google App Sync is by no means a new and novel offering. An inexpensive “Exchange Alternative” which allows companies to continue using their beloved Outlook has long been an enticing proposition, especially for SMBs, for whom the costs of Exchange are simply too high.

    To provide for this need, we at HyperOffice created a plugin for Outlook called HyperShare as far back as in early 2006 as a free inclusion to the HyperOffice online collaboration suite. Like Google’s new tool, HyperShare acts as a backend for Outlook, and also synchs between Outlook and the HyperOffice’s online collaboration suite, allowing users access to collaboration features through the familiar Outlook client. HyperShare brings much functionality which isn’t present in the Google App Sync tool even now.

    1) Google Sync doesn’t include synching for tasks, nor will it in the foreseeable future, as its online client does not contain a task management system. HyperShare in contrast, also allows task synching, as their online client includes task management. This is in addition to HyperOffice allowing synching for mail, contacts and calendars like Google.

    2) The user experience of Google Apps is drastically different from the Outlook experience. This will cause problems for users familiar with Outlook, and looking to migrate to Google Apps as an alternative to Exchange. HyperOffice’s online client on the other hand, has the familiar left navigation which lets users easily navigate between individual and group folders within mail, contacts, calendars and tasks.

    3) The components of Google Apps are more designed to work for an individual, rather than in group situations. For example, there is no “shared contacts” or “group contacts” area in Gmail through which you can share and manage contact information as groups. HyperOffice, on the other hand, has been designed as a group tool, and mirrors the functionality of Outlook, which has been designed as an individual as well as group tool.

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  • Network Admin

    So… Google has a pay version, and is helping to save people hundreds of thousands of dollars.

    Everything seems great right now, it’s very low cost, and so on. But I think in the future they will start charging for their ‘new features’ and increased space. Since at that point, alot of companies will have switched, and will not even think twice about going back and having to start from scratch again with Hardware and licensing IMO. It may still be cheaper, but at that point, who’s the next low cost alternative to gmail apps?

    Anon

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  • http://www.hyperoffice.com Pankaj

    Since Google Apps and Microsoft product comparisons rule the roost nowadays, we did a comparison of Google Apps and Microsoft BPOS, Microsoft’s closest parallel. Although there have been a lot of comparisons between Google Apps and MS Exchange, and Google Apps and MS SharePoint, a BPOS is the closest because like Google Apps it is hosted, and has messaging as well as collaboration features. You can see the comparison at http://www.hyperoffice.com/google-apps-vs-microsoft-bpos/

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