Virtual stock-trading website can help you cook up ideas and hone your skills

For many, the thought of investing in the stock market right now causes serious anxiety. But a new website, www.WeSeed.com, aims to calm some nerves by making the market more accessible.

Amy Lieberman, a stay-at-home mother of two in the Chicago suburbs, says she's found investing on the site to be a bit addictive. For the past few weeks, she's managed a portfolio of stocks she's chosen to invest in with the faux money given to new users of WeSeed.com, which was officially launched Monday.

"It's just nice to listen to the news and hear things and translate my experiences, research the companies, and buy stock and see how it all pans out," Lieberman said.

The site was cofounded by Jennifer Openshaw, a financial services entrepreneur and author. It gives users a million WeSeed dollars to invest and encourages them to choose companies based on personal experience or companies in sectors that interest them. It does so by reinforcing the "own what you know" investing philosophy of Peter Lynch, former star manager of the Fidelity Magellan fund.

Investors looking for ideas can start by searching broad categories such as fashion, sports, entertainment, parents, and gamers. Even investors with real portfolios may be interested in looking for stock ideas using the site's search function.

Type in "pizza," for example, and the site pulls up Yum Brands Inc., parent company of the Pizza Hut chain; Dominos Pizza Inc.; Papa Johns International Inc., and others.

The search engine isn't perfect but will get you started. For instance, typing in "lacrosse" predictably produced Dicks Sporting Goods, but also General Motors, which makes the Buick LaCrosse.

The site's social-networking aspect helps empower users. Lieberman said that not only has she learned about trading stocks, but she's used the knowledge and confidence gained to make actual investments.

Her husband, Steve Lieberman, a cardiologist, has handled most of the family finance decisions since they were married, but she said she now feels more confident about helping him.

The site also has contributing experts who blog and share knowledge with investors. Los Angeles-based fashion designer Jeffrey Sebelia is the fashion expert on the website.

Sebelia, the designer for Real American Brands, was the 2006 winner of the "Project Runway" reality show on the Bravo cable network. "I try to do trend reports that cover sort of lower-tier trends that Macy's and Target may be doing," said Sebelia, "and keep an eye out on the high-fashion world so people can decide whether they want to invest."

"This is a place to test-drive ideas," Openshaw said. "You can learn and use information people share to go out and do it for real."

David Pitt is an Associated Press personal finance writer.