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Taking a page from the online social-networking phenomenon, three Harvard Business School students have launched the UpDown.com to give portfolio managers and traders — real and wannabe — a way to have ideas peer-reviewed
Taking a page from the online social-networking phenomenon, three Harvard Business School students have launched the UpDown.com to give portfolio managers and traders real and wannabe a way to have ideas peer-reviewed. People originally thought Wikipedia would be crap. But ordinary people have created great content, says one founder, German-born Michael Reich. Site Participants manage virtual $1 million portfolios and earn cash if they consistently outperform the Standard & Poors 500. Reich and Co. hope to eventually commercialize the site by using participants ideas to start a hedge fund or mutual fund or by selling the data to an existing hedge fund.