While the tenets of good investing remain much the same as they were decades ago, the tools that average investors can use to implement those concepts have undergone something of a renaissance in recent years. In his new book Tradestream Your Way to Profits, Zack Miller examines some of the changes that have occurred, and some of the ways that individual investors can profit from them.

In an e-book companion to his book, Miller explains that investing at one time was a “very lonely process”, which involved lengthy, intensive research of company reports, journals, and other publications. And, he says, it was a process that had a tilted playing field, with big investors getting the inside track on news about particular companies as part of an “old boys’ network”.

“Kiss all that goodbye,” Miller writes. “With the advent of social media and regulations ensuring fair disclosure of financial information, the playing field is leveled and what’s more: the playing field is truly a collaborative environment.  Investors are sharing ideas on Twitter and using new technologies to mimic the moves of the world’s top guru investors. … Investing has evolved from a very isolated, solitary process for the few to one where ideas — and profits — are being shared among the many.”

Miller’s book examines how blogging and social media sites, online trading sites and forums like kaChing and Covestor, and guru-inspired research sites like Validea.com have impacted investing. You can download a free PDF of the book’s e-book companion here.