Now we have Valuewiki, a reader-built knowledge base for Wall Street confidence men to steal the money that we’ve neglected to spend on Jack Daniels and Oxycontin. The site works much like Wikipedia.org — anyone can contribute and edit existing articles. Theoretically, if a whole lot of savvy Wall Street types have identified an undervalued stock, then the stock is truly undervalued.
What we don’t get — what we will never get because we were born without a brain — is the following: if everyone identifies the same undervalued stock, won’t that spur investment, raise the price, thus crapping the undervalued part?
Another thing: Valuepedia is giving away $100 dollars EVERY DAY (major bucks to us; 1/10 of a peanut to them) to anyone who contributes truly original investment advice. Dust off your abacus, Mr. and Mrs. Investor.