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Article: StockJungle Fund Profiting From Hot Tips by Investors.
- Article from:
- Los Angeles Business Journal
- Article date:
- May 15, 2000
- Author:
CopyrightCOPYRIGHT 2000 CBJ, L.P. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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CALL it the ant-hill strategy of investment. StockJungle.com, based in the Miracle Mile, launched a mutual fund in November known as the Community Intelligence Fund. Individual investors become members of the C.I. Fund and then make portfolio recommendations to Michael Petrino, chief investment officer, through the fund's Web site.
The site then monitors the performance of stocks recommended by members. Those clients with hot hands are given extra weight when Petrino makes his final choices.
Evidently, Petrino has been well advised. The Wall Street Journal recently ranked the C.I. Fund at No. 19 among 3,726 funds nationwide for performance thus far in ...