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Web-Based Fund to Pay Investors for Hot Stock Picks

 

Typically, regular Joes and Janes pay Ivy League-educated portfolio managers to pick stocks for them. But Internet mutual fund manager StockJungle.com has switched those roles.

Today, the upstart Culver City, Calif.-based firm is expected to announce "Hot Hands," a program that has been quietly under way for almost a month and offers visitors to its Web site $50 for their best stock ideas. Each day, five amateur portfolios with the best three-month performance records get the cash award.

Think of it as the pilot of a plane leaving the cabin to ask your advice on the best cruising altitude. ...

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