Best new blog I have read in a while: Mike Speiser’s Laserlike. Its theme is, ‘Free ideas. Just add execution.’
Best idea on Mike’s blog that I have noodled over: a shadow market mutual fund, where the investors pick the stocks. It creates wonderful incentives: no one is going to pick bad stocks because they are putting their money in, and good picking is rewarded with a slice of the fees.
The part that I am struggling with is the mean variance. That is, would early gains of quality be wipped out with the necessarily averageness of scale. Since you are giving everyone a vote. But maybe that can be solved by some sort of reputation score and ranking.
Still wonderful stuff and be sure to subscribe to the blog.
