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Jim Cramer is Mad Money. He gets very passionate about his picks. I like James Altucher better. He has a humored, detached outlook towards reality, which helps him ride investment waves and get out before crashing on the rocks. He is also a fantastic networker which makes him an "inside joker". Here are his three current picks according to a disclosure via Twitter.

Note: Neonode (NEON) is no longer one of Altucher's darlings (consider shorting it as speech recognition eclipses touch interfacing).

Corporate Resource Services (CRRS)

Altucher, Fred Wilson, and I (among many) agree that we may have reached "peak employment". With the death of the old paradigm come new opportunities in job placement.

This sub-$100mm penny stock has been on an acquisition tear. I think this means it is high-risk and high-reward. Software is important for publicizing work matches: a vote of confidence from Altucher goes a long way here, as he is an expert in software and promotion.

This is a great gamble to follow Altucher into as he hasn't really written about it yet. As with all of Altucher's stocks it must be diversified for risk management. Here is the 10-k summary if you're into that kind of thing but who really cares? The company will either become dominant in its niche and return several multiples to present investors or flame out financially. This is my favorite Laugh Money pick from James Altucher.

Trovagene (TROV)

Trovagene is developing broad intellectual property to detect various forms of cancer through urine. I believe the science is promising. However, I am concerned about the defensibility of the intellectual property given that Mayo v. Prometheus dealt specifically with a diagnostic patent set. This is James Altucher's favorite Laugh Money pick. It is digesting sellers as it flirts with a price level wherein CEO Shuh becomes eligible for a bonus.

Vringo (VRNG)

Vringo is a patent company with expertise in software. This concerns me as software IP seems bubbly. However, it recently raised money to pursue telecom patents.

I think this is the real catalyst for Vringo as it will demonstrate whether or not it can reinvent the way engineering ideas are monetized, beyond software. Vringo could become a hitman for hire in engineering IP.

The problem: Vringo's main asset is its talent, and there is no guarantee the talent will stick around if something goes wrong. Most likely the talent goes somewhere else and starts over instead of fighting an uphill battle.

Interestingly, Vringo has brought on one of Richard Posner's old clerks, Ashley Keller, which could indicate it expects an upward battle in appeals.

To me, Vringo becomes attractive in two potential scenarios. One, it breaks its range at the high where it diluted shareholders previously. Two, it breaks its downside range as the Google (GOOG) winnings fail; meanwhile it continues to move tangibly forward in trolling telecom.

This is my least favorite Laugh Money pick at this time as I think risk/reward does not favor shareholders in the short term. I don't think Altucher followers should be trading anything except the short term. For more on this philosophy, see these two Akram articles with comment cameos from James: (1,2).

Source: Insider Laugh Money: Altucher's Picks

Additional disclosure: While Modernist has no plans to initiate any positions, plans can change in rare occasions. Family, friends, associates, and/or acquaintances of Modernist may or may not have positions related directly or indirectly to the contents of this article. Modernist may have unnamed positions related indirectly to the contents of this article.This article, like every article written by Modernist, does not constitute advice. The unexpected can and does happen in the stock market. Please utilize independent judgement in investment decisions.