Can the wisdom of crowds improve stock trading? Piqqem thinks so.
February 18th, 2009

The recently launched service Piqqem is premised on the idea that, collectively, we all know more about companies and the potential value of their stocks than do we individually — even than seasoned traders. From the FAQ:

Piqqem differs from other sites in that we believe the crowd has more knowledge than any single individual. Instead of looking for the best individual stock picker and weighting votes based on investment ability, we look at aggregate opinion and allow everyone to vote as much as they want. This orientation towards crowd wisdom manifests itself in our crowd indicators, such as top rated stocks, most active stocks, stocks with most rising sentiment, and stocks with most falling sentiment.

In theory, the aggregate data generated through Piqqem will enable its users to make better decisions about which stocks to buy and sell, by allowing users to vote on individual companies in order to make predictions. Most recently, Piqqem alerted SmartMobs to their new integration with Twitter, as a potentially powerful tool for analyzing and influencing the stock market.

The stock market is, of course, itself already a product of collective thought, if unpredictably so. It will be interesting to see whether non-expert users take up a service like Piqqem, or if its users remain those already knowledgeable about equities and the world of finance.

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