Marketocracy's slightly eccentric founder is starting a blog that he hopes will help pick stocks for his funds. The San Mateo, California-based fund firm allows shareholders to lend a hand in managing the firm's portfolios.
officials unveiled their latest twist
on the idea on Monday when they introduced Ken Kam's Best Ideas Blog
. For a fee, investors can watch Kam buy and sell stocks in his Best Ideas portfolio.
Kam, the CEO of Marketocracy, wants to differentiate his new blog from other investment advice.
"When I decide to buy or sell a stock ... I will post all the details in my Blog before I make the trade. You'll see my winners and my losers," Kam explained in the release. "I will explain what I like about a stock and when something significant happens, I'll give you my take."
So far Kam has been a less-than-prolific blogger. In a medium in which some sites are updated as much as 12 times per day, Kam has authored only three posts since his first entry on July 11.
Kam founded Marketocracy almost five years ago after leaving his portfolio managing position at Firsthand Funds
, another fund firm that he cofounded with Kevin Landis. Marketocracy allows users of the company's website to sign up as managers themselves, managing virtual portfolios in a competition that uses the best managers' ideas to pick the firms' funds' stocks.
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