Bet on These 'Hands-Free' Stocks

Updated from 9:59 a.m. EDT

Two significant hands-free laws went into effect July 1.

In California, according to the Department of Motor Vehicles, the law prohibits all drivers from using a hand-held wireless telephone while operating a motor vehicle; motorists 18 and older may use a "hands-free device." In the state of Washington, the law is similar, prohibiting the use of a wireless device such as a cell phone being held to your ear while you are driving.

Because of these new laws, there may be a trading opportunity with the companies that make hands-free headsets.

Unfortunately, you can't invest in Aliph, maker of the stylish Bluetooth Jawbone headsets, although two venture capital companies, Sequoia Capital and Khosla Ventures, own parts of the company. But plenty of other companies make headsets, including Motorola(MOT Quote) and Nokia(NOK Quote).

To read more and to find out how to play hands-free cell-phone laws, please click here.

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A note from James Altucher:

Every weekend I send an email to Jim Cramer and several hedge fund managers about the most interesting portfolios posted on Stockpickr that week. Usually those portfolios not only list stocks according to a theme but also offer significant analysis as to why the stocks are cheap.

Here are some examples:

• Stocks related to drilling the Marcellus Shale
• MLPS with yields above 7%
• Microcaps trading for less than tangible book
• Stocks that do well after Hurricanes

Here's the challenge: Build a portfolio at Stockpickr.com with great analysis, and send me the link. Each great portfolio (with analysis) will get posted on TheStreet.com with your byline (as a "Stockpickr Guest Columnist") and will be included in my email I send to Jim and the other hedge fund managers on my list.