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Is Covestor Bad for Investors
Is Covestor Bad for Investors - Trends
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a social investing site where people share the performance of their real stock portfolios, came out of private beta this morning. Now anyone can join, and it is welcoming voyeurs who only want to watch other’s performance but not share their own. This should broaden the appeal of the site and provide a no-commitment entry point for people who may be uncomfortable with sharing their personal financial data on the Web (i.e., most of the population). President and co-founder Perry Blacher explains the company’s approach: It was always in our plans. We had a Catch 22 up front where we had to create liquidity of ...
I recently got an invitation to join Covestor. If you haven’t heard, Covestor is a new website that allows you to track your portfolio of investments. You can allow others to see what investment choices you’ve made, and Covestor tracks your performance against other Covestor participants. Covestor also has widgets you can use to publish your portfolio on a blog. I do think I’ll give it a try, but I wonder if Covestor will be bad for some investors. Here’s why. At any time, there will be market-timers who have eye-popping returns from their investments. These ... Read More