Review: What are expert investment communities
We’ve written extensively about expert investment communities. Expert investment communities are affinity groups of successful investors creating and sharing their analysis of the markets and stocks within a social networking framework. These types of groups used to exist offline in the forms of neighborhood or office investment clubs. With the advent of social networking tools, entire communities are sprouting up online and experts bubbled to the top with knowledge and influence in specific sectors, trading strategies, individual companies, and geographies.
Expert communities work like this:
- Investors sign up at sites like Covestor, Vestopia and Cake Financial and are required to link up their online accounts to their actual investment accounts
- Recommendations to buy or sell stocks are backed by real trades in the investor’s account
- Investors are encouraged to write about their trades, explaining the strategy backing each move
- Top performers in different strategies and with different risk profiles and participants are ranked on a variety of factors
- Other investors can peer into each others’ activities — learning, interacting, and bettering their own investment processes
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