Piqqem: A Potential Smart Mob of Investors
October 22nd, 2008

As readers of this blog well know, the wisdom of crowds manifests itself when the aggregated thinking of a crowd is more accurate than that of even an expert individual. This blog has seen numerous examples of leveraging crowd wisdom, such as a crowd-curated exhibit at the Brooklyn Museum and a crowdsourced restaurant ingredients in Washington. But even though the wisdom of crowds has manifested itself from economics to psychology, we tend to go about our stock investing based on the wisdom of few individuals – such as large institutional investors, financial analysts, company CEOs. So why not apply the wisdom of crowds to stock market predictions?

Enter Piqqem, a new web app which does precisely that. Piqqem captures predictions of stock movements from its users, and displays the results in a variety of interesting and valuable ways. Put simply, Piqqem captures and displays the stock market wisdom of crowds. Even if the crowd turns out to be not-so-wise, its predictions are still useful if they’re consistent, because you can always choose to bet with or against the crowd. And even if the crowd’s predictions turn out to be inconsistent, capturing them is still worthwhile in that it explores whether the crowd can predict stock movements more successfully than the seasoned individual – a fascinating and open question, especially at a time when stock markets are turbulent and crowd sentiments can add valuable insight beyond traditional stock market analysis. Ultimately, crowd predictions are intended as one in a portfolio of sources on stock information; and a powerful source in that it represents a distribution of predictions versus a single, albeit expert, one.

Every day, the biggest investors use expert opinions to move the market. Piqqem enables users to aggregate their opinions and potentially move the market together. It is therefore a technology enabling the emergence of crowd wisdom, and – if acted upon – of smart mobs of investors.

Can the crowd predict the movement of stocks more successfully than even the seasoned individual? Can Piqqem enable a smart mob of investors? Join the Piqqem crowd to find out…


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