Comments on: Social Investing Site Covestor Now Collectively “Manages” $100 Million

By: Darren Pollard

Darren Pollard — Wed, 22 Jul 2009 15:36:31 +0000

Are you #$%^&*( serious!?!! What social media sites make money!??? NONE!!!

Now you have a site that tracks them – like your own FANTASY social media investment – and this site gets $7.5m in funding!

What a joke!

Another social media company that takes millions in VC and no business model.

Losers. ALL VC’s are LOOSERS THAT INVEST IN SOCIAL MEDIA!

By: Bill

Bill — Wed, 08 Oct 2008 04:32:41 +0000

It’s an interesting approach – especially when they have guys like Timothy Sykes and his entourage on the top 5 of covestor leading by trading small-caps: http://timothys...-pennystockers/

By: Social Finance Site Covestor Gets Own Financing

Social Finance Site Covestor Gets Own Financing — Mon, 07 Apr 2008 16:09:00 +0000

[...] first wrote about Covestor back in October when the site managed $100M worth of holdings. Investors can choose to share their portfolio [...]

By: Social Investing Site Covester Raises $6.5 Million In Series A

Social Investing Site Covester Raises $6.5 Million In Series A — Mon, 07 Apr 2008 15:59:05 +0000

[...] against other Covester members, professional fund managers, and the overall market. As I wrote last October: The idea is that eventually, the best investors will emerge, and Covestor plans on creating ways [...]

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By: DavidFree

DavidFree — Fri, 05 Oct 2007 04:36:07 +0000

It’s interesting that they get people to put their real brokerage accounts on the line–really hard to get anyone to log on to any new website nowadays and this is a standalone website–shows that the features are unique. this one will get snatched up by dow jones in no time once rupert closes that deal. how do i invest in this company?

By: Howard lindzon

Howard lindzon — Thu, 04 Oct 2007 16:46:13 +0000

Marc T

That was my biggest concern and I finally invested anyways. If you are a financial blogger, thousands of them, its that urge to compete and this software and tool makes it so easy.

It wont be about the ‘money ‘ rewards necessarily for me, it’s about putting yourself out there and it not being so freaking hard that its not worth it.

By: MarcT

MarcT — Thu, 04 Oct 2007 07:11:04 +0000

I don’t understand. If i am making so much profit investing, why would I spend the time to look for some “rewards”.

can they offset my loss?

why would I share with others to make a few bucks?

By: John B

John B — Thu, 04 Oct 2007 05:47:09 +0000

Perry: I too am Canadian and interested in Covestor, however, looking at your site I can’t make it give me a quote for stocks on the TSX Ventures Exchange. Are you only supporting the main TSX board right now?

By: COooko

COooko — Thu, 04 Oct 2007 04:37:45 +0000

Nice product.. but I don’t know if their business model will work.

By: phenom

phenom — Thu, 04 Oct 2007 03:17:19 +0000

good job so far…they always had originality unlike google

By: fred wilson

fred wilson — Thu, 04 Oct 2007 01:05:51 +0000

Erick

it doesn’t take guts to post your performance when you are a self described “horrible public market investor”

and i do like covestor. i think they are on to something

Fred

By: Arjun Banker

Arjun Banker — Thu, 04 Oct 2007 00:18:54 +0000

I just signed up for the service and am, in short, stunned. It blows away all the competitors in this space by guaranteeing trust (all the trades you see are real) and reducing friction (you don’t have to re-enter any of your trades, ever).

This is the first investment-related site that will actually gain my attention on a regular basis.

By: David Benjamin

David Benjamin — Wed, 03 Oct 2007 23:55:37 +0000

I have been using Covestor since it launched and have been very impressed with the idea and the promise of what this could represent for the “democratization” of investing. The website is very well constructed, with solid functionality and some really cool features. I think these guys are on to a really powerful concept: think of it like “American Idol” meets “Facebook” meets “TheStreet.com”!

By: Steve Ballmer

Steve Ballmer — Wed, 03 Oct 2007 23:46:12 +0000

100 million, where’s the rest?

By: TDavid

TDavid — Wed, 03 Oct 2007 23:25:12 +0000

I’d rather see brokers offering these features to clients than some third party social whatever website that might be here today, dead pool tomorrow and god knows what is being done with your broker user/pass logins (yeah, I saw the demo where they say they have no access to your info and it’s not stored anywhere, it’s simply passed along in an encrypted connection to their partners).

Pass.

By: Blodgeypoo

Blodgeypoo — Wed, 03 Oct 2007 23:13:44 +0000

Hmmm $100m, where have I heard that number before…

By: Bonecrusher

Bonecrusher — Wed, 03 Oct 2007 23:00:47 +0000

One of the most compelling part for me is comparing the return of my passive indexing strategy to other Covestor members, indexes and the mutual funds that are tracked as part of the service. It makes me want to delve deeper into other strategies and see what they are doing that I’m not (when they are beating me). My goal is that by perfecting my passive investment strategy will generate a following for me that I can monetize into an income stream. Wish me luck! (and I agree with the sentiments of lawrence — active management with its associated fees can make it almost impossible to meet or beat appropriate benchmarks).

By: Martha Griffin

Martha Griffin — Wed, 03 Oct 2007 22:53:26 +0000

I would like to respond directly to Garth who said pessimistically that he’s guessing this will not work well for Canadian investors. In fact, Canadian Business did a story about Covestor just last month and a number of Covestor members are Canadian. A link to the Canadian Business story as well as some other news coverage is available on the Covestor site as well as directly from the publication.

By: lawrence

lawrence — Wed, 03 Oct 2007 22:34:30 +0000

back-to-back, year after year…that monkey throwing darts on the list of stocks beats out the professionals – so it’ll be interesting to see which no-name individuals will come out of the heard in this ‘contest’ site

By: Perry

Perry — Wed, 03 Oct 2007 22:25:59 +0000

Hey Garth. I am one of the founders of Covestor. We do support Canadian investors, or those trading in any of 34 international markets – not yet with the automated data import but using the manual trade entry process (which we verify by periodicially checking against your statements). Hope this helps

By: Steve McMurray

Steve McMurray — Wed, 03 Oct 2007 22:23:38 +0000

I tried Covestor, and liked what I saw. I’d also check out SteamStreet (www.steamstreet.com) another up and comer that has some similar features. The goal is a little different… instead of trying to build up a reputation and sell advice, it’s more focused on individuals working with people they know to improve their portfolios. It felt a little less intimidating, since not all of us are looking to become investment stars.

By: Garth

Garth — Wed, 03 Oct 2007 22:21:53 +0000

I’m guessing that like pretty much every other cool investing site out there that this won’t work well for Canadian investors. Can somebody confirm?

By: HedgeDaze

HedgeDaze — Wed, 03 Oct 2007 22:02:59 +0000

Covestor is a great concept. I will join.

By: Eric Wolff

Eric Wolff — Wed, 03 Oct 2007 22:00:51 +0000

I’ve been using Covestor for exactly the purpose of building a track record, with the hopes of starting my own fund at some point in the next couple years. It’s amazing how poor (and expensive!) other performance tracking tools are compared to Covestor. This feature alone makes it a must have, and I can’t wait until they add some more community elements.