∞ Piqqem uses "Wisdom of Crowds" to track Apple stock

Mac users and Apple watchers often groan when they see a new report or prediction from an industry analyst, believing that much of the information is worthless. What if you could follow predictions and trends that you help set? Would that make the information more valuable to you? A new company called Piqqem (pronounced Pick ’em) is doing just that.

The brainchild of Jett Winter, Piqqem uses the Wisdom of Crowds principle and applies it to the stock market. The basic principle is that the aggregation of information from the many is often more accurate than the information from a few.

Using sophisticated algorithms to parse the data, Piqqem aims to capture what Winter calls Sentiment. This is basically the overall feeling of anyone that votes a stock up or down on the Piqqem Web site. You can vote anonymously or sign-up, whichever you prefer.

Piqqem's Apple page

Anyone can vote for a stock based on what they see in their everyday lives. For example, if you are out shopping and walk by a Sony Store and it’s completely empty, you may come home and vote that company down.

On the same trip you may notice that the Apple Store is bustling with activity, causing you to give that a vote up.

You can vote for stock in a number of values depending on how strongly you feel about. The available voting options are Double up, up, nuetral, down, and double down.

Piqqem doesn’t offer stock trading, the site is dedicated solely to tracking the Sentiment of the industry and readers.

The key to Piqqem’s success, according to Winter, is that they don’t give one person’s opinion any more value than another’s. If a highly regarded analyst votes Apple low, it counts for one vote.

The Web site also features tabs that give you access to the Sentiment Breakdown, User Takes, Tweets about the company you are watching, a Timeline and a Wiki.

Piqqem follows quite a few stocks besides Apple, applying the same principles to those companies. When looking back at the data for previous quarters, Winter said the Wisdom of Crowds principle that he uses has been incredibly accurate.

We’ll find out just how accurate on Monday. Winter will release his report on Apple before the company announces its earnings.