With Covestor, everyone is a money manager

16 thoughts on “With Covestor, everyone is a money manager”

  1. In a phrase: f*ck that – who’d be stupid enough to give up their brokerage info to some startup with $1m in the bank? Scary if people actually sign up….and all for just ego.

  2. First, Yousef Ourabi, what do you have to hide? Are you the only one with the stocks, or mutuals that you have in your portfolio? Forgive me if this too personal but my first reaction is that you sound paranoid. I would welcome the advice, the information about the performance of other investors, and their successes or failures. I do that anyhow. I am in an Investment Club (417 Investment Group) and we send our information to Better Investing Magazine. When it is published or featured, we can do a comparison and
    make decisions about what to buy and what to sell. Covestor would be better than the magazine. It would not take weeks or months, it would take the click of the mouse. Go for it, Covestor!

  3. You guys are totally missing the beauty of this thing-it’s way better than anything else out there by far! REAL MONEY = no more empty (eg. worthless) message board touts, now it’s put up or shut up. And there’s something there that says when you get enough ppl following you you can charge people to then still get your picks. If they deliver that to me, this is a total gamechanger like ebay or amazon were.

  4. This new site wins by a mile because no more play money nonsense or empty posts but someone making real trades. AND there is something there about charging people to get your trades. I don’t think that’s running yet but it’s there.

  5. Who’s going to give up their brok. info??? I sure will, especially if it means being compensated for my talent as a stock picker. Stock Bloggers, time to put your money where you mouth is! If this thing will enable you to verify and track and potentially profit from the knowledge of talented traders; It’s a slam-dunk from my perspective. In fact, i’d go so far as to call it a disruptive tech. The guys that should be freaking are the no-talent money-managers and hedgies. I hope they go public soon.

  6. I think Covestor has done an absolutely terrific job. This is what I call transparency 101! They’ve basically taken the managed accounts platform, the new marketing gimmick in hedge fund investing, and brought it to users.

    No more BS like newsletters recommending something and taking opposite positions- THIS SHOWS YOU EXACTLY what and how they’re doing, and whether they’re worthy of following.

    Revolutionary, in a word.

  7. David Jackson from seeking alpha just posted on this subject, http://financial.seekingalpha.com/article/37383
    , indicating there’s another player in this sector : vestopia.com
    from quick look at both, seems as though covestor tries to give an opportunity to those who are unknown, whereas vestopia carefully select their “Investment Directors”. Just by terminology, I would follow invesment directors, and not some guy who may or may not outperforme the market. I want real names & bios attached to the guy I will put my trust in. regardless, this sector is really boiling up.

  8. Zecco.com, the company that introduced access to $0 stock trading last year, is actually offering a similar and free service to its members, called ZeccoShare.

    With ZeccoShare you can put your mouth were your money is by sharing your actual portfolio holdings, as well as recent trades with other community members.

    You are all invited to check it out in Beta.

  9. i think this is the most brilliant idea for a startup i have come across recently . i know a thing or two about investment and how actually people go to their friend for advice on which stock to buy .
    in countries like India where very few [retail] investor understand the working of stock market most of the investment decision are made mostly on the basis of recommendations only . so its logical that they are trying to emulate this real world reputation system on net .

    good idea . i will follow the progress of this company .

    just as a thought , Impact of internet is not visible on financial sector as much as it is visible in other industry . ofcourse
    there are ATM,Net Banking and PayPal but most of these venture are reinforcing old institute . I am yet to see a “disruptive” technology in this space . my bet ??
    its either Covestor or prosper.com

  10. There is an investment adviser that actually provides all portfolio information for free, since they have nothing to hide. Their performance has been excellent, to say the least.

    The company is called Pariveda (http://pariveda.com). To view the portfolio advice, which is updated quarterly, you will have to log in.

    Would be cool to see their portfolio compete with others over a longer term.

    In an up market everyone can look good, but what when things go south?

  11. Sounds like a great way to ensure that you can get people to follow you into an investment and support the price once you’ve bought in…and bail out before they will! Brilliant!

  12. I’v looked at both covestor and Vestopia, and i think both have a good offering. I like the fact that vestopia don’t require any details from me, and that I follow trained professionals.
    Also, i think that if covestor allow you to manually report transactions and holdings, there is no real transparency.

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