We are a commune of inquiring, skeptical, politically centrist, capitalist, anglophile, traditionalist New England Yankee humans, humanoids, and animals with many interests beyond and above politics. Each of us has had a high-school education (or GED), but all had ADD so didn't pay attention very well, especially the dogs. Each one of us does "try my best to be just like I am," and none of us enjoys working for others, including for Maggie, from whom we receive neither a nickel nor a dime. Freedom from nags, cranks, government, do-gooders, control-freaks and idiots is all that we ask for.
If anyone is interested, I just wrote an article on this subject.
What if you could follow the best Stock Traders ?
Every investor has a track record. The actual amount of money under his control is immaterial. Either he can deliver the goods, or he can't. So if he has a track record of picking winners (overall) he can sell his track record, or rather, he can allow investors to observe him making trades in real-time. All you need is a website that allows investors to choose proven money-making investors...
Deciding which "Investment Leader" to follow is actually an exercise in inductive logic. In an inductive argument, the truth of the premises provides some degree of support for the truth of the conclusion. For example, if a dog bites you everyday, he'll probably bite you again tomorrow. Inductive logic is used for "unsure" situations; it's a way to guess the probability that a future event will occur. So it can be used to guess the probability that a stock trader will make a winning trade tomorrow.
More Here: https://disqus.com/home/discussion/channel-thinktankreports/what_if_you_could_follow_the_best_stock_traders/
It's an interesting thought, but there is the problem of observation affecting the outcome. Suppose you have a popular stock picker who recommends buying Stock A because he's certain it's going to go up in price. A million of his followers immediately buy Stock A and, sure enough, the price of Stock A shoots up. Of course it shoots up, a million people just tried to buy the stock. Chalk up one more victory for the stock picker! But notice that the stock picker was the first to buy the stock and he got in at the lowest price. Each successive follower is going to find the price incrementally higher until some of them will be paying peak price and not making any money at all on the stock. You might be better off picking a stock picker, seeing what stock he recommends, waiting about 24 hours and then start shorting that stock.