Financial Advisor Update

Picking Better Stocks With Stockpickr

 

Today's Lists: Each day, we present in "Stockpickr format" (the ability to see what other portfolios own each stock), the lists of stocks that are particularly relevant for that day's trading:

Do-It-Yourself Portfolios: These are the portfolios made by Stockpickr members that may or may not contain detailed analysis on each pick. These portfolios often contain more valuable ideas and insight than the pro portfolios. Additionally, many professional money managers and hedge fund managers have been putting their portfolios in the do-it-yourself section, for example the Keyrock Energy portfolio.

Similar Portfolios: When you enter in your portfolio and signup for Stockpickr, if you go to your home page and look on the right you will see a list of portfolios, Pro and Do-It-Yourself, that are highly correlated with yours. These might contain stocks worth looking at that you haven't considered before. It also might be a starting point for correspondence with the portfolio creator about ideas you hold in common.

I'm Feeling Lucky: This button near the top is an excellent tool for either finding stock ideas or for wiling away the time while on the telephone. Clicking that button takes you to a random Pro or Do-It-Yourself portfolio that contains detailed analysis on the stocks in the portfolio.

Active Trader: If you trade a lot, go to this section. It has listings of various quant trading systems that could help you identify a potentially profitable trading setup. Check back daily to see what's setting up for that day. Systems include: The QQQQ Crash+, The 3x2 system, etc. And to see what you should do when it snows in Central Park in New York City, check out the Blizzard System.

The Stockpickr Community: The "Why I Like" comments, the "Why I Hate" comments, the forums and the internal messaging can all point the direction to new ideas and analysis.

The Stockpickr Blog: We will be regularly updating the blog to point to our own analysis of the different portfolios and funds featured on stockpickr. For instance, the best activist hedge funds to piggyback (and how to use the site to effectively follow the funds' positions), the most creative ETFs, etc. We also have the Stockpickr Blog Index in our blog area to link to the best blogs and analysis on the Net. Many of the bloggers also have a portfolio in the Do-It-Yourself portfolios and we consider the blogging community part of the Stockpickr family.

In addition to these features we will also be writing a "Stockpickr Portfolio of the Day" article each day on TheStreet.com, featuring analysis of new portfolios on the site.

So check it now.

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At the time of publication, Altucher and/or his fund had no positions in stocks mentioned, although positions may change at any time.

James Altucher is a managing partner at Formula Capital, an alternative asset management firm that runs several quantitative-based hedge funds as well as a fund of hedge funds. He is also the author of Trade Like a Hedge Fund and Trade Like Warren Buffett. Under no circumstances does the information in this column represent a recommendation to buy or sell stocks. Altucher appreciates your feedback; click here to send him an email.

Interested in more writings from James Altucher? Check out his newsletter, TheStreet.com Internet Review. For more information, click here.

TheStreet.com has a revenue-sharing relationship with Trader's Library under which it receives a portion of the revenue from purchases by customers directed there from TheStreet.com.

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