These days, it seems like everything is being crowdsourced. Threadless uses crowdsourcing to make T-shirts, Amazon.com’s Mechanical Turk uses crowdsourcing to offer a virtual marketplace for intellectual capital, and the Democratic National Committee’s Flipper TV uses crowdsourcing to expose Republican flip-flops, contradictions, and “out-of-touch” policies. By letting the wisdom of the crowd guide decisions, organizations are finding innovative ways for both themselves and individuals to lower costs, achieve higher-quality results, and come up with groundbreaking ideas.
So what’s the idea behind crowdsourcing? As described by James Surowiecki in his phenomenal book, The Wisdom of Crowds, large groups of people almost always predict data better than any individual. A good example is the common game where players try to guess how many jelly beans are in a bottle. Almost always, the average of the guesses is as close as or closer than any individual guess. Extending this principle to the stock market, we can assume that crowds can guess stocks better than any individual can. So how can we, as individuals, leverage the intelligence of the masses to help us in picking the best stocks (”social investing”)? Fortunately, Motley Fool has done the work for us: they engineered a free, stock-pick-crowdsourcing engine called Motley Fool CAPS. To Learn More Click Here
Motley Fool CAPS operates from a simple premise: Working together, we can improve our investing results. This revolutionary new service pools the resources of the
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