How well do you know the markets?
This is cute: A website that lets you compete to see how well you know the markets. It's called Consensus View, and it works like this:
Are the Many Smarter than the Few in the Financial Markets?As I see it, there are two elements of this site that are worth noting:Inspired by the book "The Wisdom of Crowds" by James Surowiecki, www.ConsensusView.com was launched to find out whether the idea that the many are smarter than the few can give traders an edge in the financial markets.
The website allows participants in the Stock, FX and Futures markets to forecast the direction of the markets and in return see the consensus view of where a market is heading. Participation is free and there is $12,000 of prize money for the best forecasters, with a further prize of $250 for the person that referred them to the site.
1) You can see the aggregate expectations of participants (pros and amateurs) toward markets sectors (S&P, Gold, etc.). Of course, this doesn't mean the markets will move in the direction a majority of people say they will (and do NOT use this as a guide for your own investments!)
2) You can join the competition and try to win the monthly prize of $1000, based on how well you call the direction of different markets, compared to everyone else playing.
It's free, so if you have some time on your hands, and want to see how you stack up against other market pundits, give it a shot.
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