Comments on: Social Investing Site Covestor Is Now Open to the Public

By: Linda Johnson

Linda Johnson — Sat, 08 Nov 2008 15:46:44 +0000

I am working on a college essay about social investing, and need to interview someone who is involved or knows what it is all about. Can you help me? Please? If you can, can you write me a short paper telling me about how you got started and how you are doing today, and email it to me? If you do, I need to know that I can quote you as an interview. Thank you so much in advance, I hope you can help me!

By: Quick stock idea « The Big Deal

Quick stock idea « The Big Deal — Tue, 01 Jul 2008 22:02:56 +0000

[...] I apologize, at least to all the poor souls out there who like to read my disconnected thoughts. Covestor opening up to the world and a friend’s blog kept me [...]

By: Gold Investment vs Stock Investment « South African Riches!

Gold Investment vs Stock Investment « South African Riches! — Mon, 30 Jun 2008 10:47:54 +0000

[...] Social Investing Site Covestor Is Now Open to the Public [via Zemanta] [...]

By: Adam Jackson

Adam Jackson — Fri, 20 Jun 2008 06:59:27 +0000

Covestor is a cool site but there is still ample opportunity for pump-and-dump artists to pray. Think about mimicking the best trades (since they’re published daily) then throwing in a few of your own junk stocks into the mix as you acquire more followers.

My full analysis from a few months ago (I’ve been on covestor for quite a while): http://www.jack...mp-and-dump-20/

By: rob zand » Blog Archive » links for 2008-06-19

rob zand » Blog Archive » links for 2008-06-19 — Thu, 19 Jun 2008 23:35:49 +0000

[...] Social Investing Site Covestor Is Now Open to the Public (tags: money) [...]

By: Bill

Bill — Thu, 19 Jun 2008 15:43:39 +0000

Save yourself some time and put your savings into an S&P 500 index. Stock prices follow a random walk…some people get lucky and others unlucky. No one can predictably beat the market, especially doing active trading. The taxes and brokerage fees alone put you at a disadvantage.

By: Don Bartell

Don Bartell — Thu, 19 Jun 2008 04:29:24 +0000

Covestor offers the best of traders a chance to prove themselves in real time with real money. As for everyone else, it offers a chance to see exactly how they do that. From my perspective, however good you already may be, if you’re trading without that kind of contact, you’re very likely trading inside the box, and drastically limiting your potential. Some traders really can beat the market, and they’re doing it on Covestor right now.

By: TechCrunch Japanese アーカイブ » 門戸を開放したソーシャル投資サイトのCovestor

TechCrunch Japanese アーカイブ » 門戸を開放したソーシャル投資サイトのCovestor — Thu, 19 Jun 2008 01:24:12 +0000

[...] ［原文へ］ [...]

By: Peter K (aka IBDInvestor)

Peter K (aka IBDInvestor) — Wed, 18 Jun 2008 22:15:29 +0000

I thought I was good. My annualized return is over 50% and have never dipped below the S&P500. Yet I’m not even ranked in the top 100. Congrats on attracting quality members and on going public.

By: TR

TR — Wed, 18 Jun 2008 21:18:55 +0000

Covester is an awesome product. I guarantee that anybody who follows these suggestions will increase their portfolio value and net worth almost immediately http://www.read...ex.php?rta=blog

By: Kayembee

Kayembee — Wed, 18 Jun 2008 18:54:23 +0000

My contribution to this post:

http://www.jogt...php?trackId=119

By: Terry

Terry — Wed, 18 Jun 2008 18:25:40 +0000

@ Timothy

going into managed accounts, ha? gees, that’s really interesting… Now I’m POSITIVE that big chunk of the investors’ money will be spent on marketing.

Hey TechCrunch – You have a web-related start-up that doesn’t do ads or lead gen!!! and VCs are investing!! sorry – only 2 VCs are investing… the rest still invest in mass-adopted useless crap, hoping to sell ads, with the underlying promise to never break even…

By: Timothy Sykes

Timothy Sykes — Wed, 18 Jun 2008 18:03:53 +0000

Terry, business model is TOTALLY diff. they could care less about ads or marketing…think managed account fees…but it’s good people don’t understand it, maybe thats why they have the market to themselves and could/should be the next vanguard, but instead of no fee funds, just have superior performing managed accounts!

By: Terry

Terry — Wed, 18 Jun 2008 17:54:25 +0000

THE PROBLEM : Business Model.

I’ve checked the stats on compete: Vestopia, Covestor and Cake have roughly the same numbers, and they are not close to think about ad inventory. So what’s the business plan? Covestor took $6.5 million AFTER everything was built, so what’s it for? My guess – marketing dollars baby, and lot’s of them, to sell stuff other than ad inventory.

However, that’s one of the most interesting plays on the web today: no ad rev in the horizon, and still some (bold and highly regarded) VCs put money into work, and lot’s of it.

Schonfeld, if I were you, I would ask how they plan on monetizing this thing.

P.S. : when it comes to stocks, following the masses is the one thing you don’t want to do.

By: Ryan Waggoner

Ryan Waggoner — Wed, 18 Jun 2008 17:42:28 +0000

@Thomas

As Timothy said, I think the main distinction here is not that Covestor is leveraging the “wisdom of crowds,” but rather providing a platform of transparency that allows the best investors to easily be bubbled to the top in terms of visibility. If they were leveraging the wisdom of crowds, it would be one big portfolio that was allocated via voting, which I think most people would agree is a pretty bad idea. But I’m sure someone will try it (or already has)…this is Web 2.0, after all

By: Timothy Sykes

Timothy Sykes — Wed, 18 Jun 2008 17:17:44 +0000

Thomas, unlike other web 2.0 sites, Covestor doesn’t give a crap about below average, average or even above average investors…they only care about the superior ones…and thanks to their software, everyone can see who is the best. Advantage Covestor.

Say it with me Thomass, I know you can do it: M E R I T O C R A C Y

By: HA

HA — Wed, 18 Jun 2008 16:55:06 +0000

Please do a story on how college educated people fucked up Silicon Valley

By: Ron Palmeri

Ron Palmeri — Wed, 18 Jun 2008 16:53:40 +0000

Killer idea.

By: Thomas

Thomas — Wed, 18 Jun 2008 16:53:27 +0000

Such a bad idea. Applying the wisdom of the crowds to investing…great idea except for the fact that the crowds suck at investing. But, shhh… don’t tell anyone because it’s taboo to say anything negative about Web 2.0 principles (long tail, wisdom of the crowds, viral marketing, etc…). The emperor’s clothes look fabulous!

By: David Benjamin

David Benjamin — Wed, 18 Jun 2008 16:46:18 +0000

I have been using Covestor for several months now. These guys have done the best job of all of the “social investing” sites in my opinion. The value of these sites is in the size of the user base – so things should get very interesting now that they are open to the public.

By: mig33citeureup

mig33citeureup — Wed, 18 Jun 2008 16:45:47 +0000

i LOVE the meritocracy of covestor too

By: Rob

Rob — Wed, 18 Jun 2008 16:44:08 +0000

This is a great step towards democratizing investment management.80 percent of mutual funds don’t beat the market. And it’s even worse when you account for fees. What a broken industry!

By: Timothy Sykes

Timothy Sykes — Wed, 18 Jun 2008 16:39:28 +0000

Yeah baby open this thing up so everyone can see my pretty results!!!! Jewwwww yahhhhh

By: doug estadt

doug estadt — Wed, 18 Jun 2008 16:29:24 +0000

i LOVE the meritocracy of covestor; doesn’t matter who your dad went to school with, what fork you used with your appetizer at the country club, just how good a stock picker you are is all that counts.