Admit it: You’re curious about what people are up to. Why else would you drool over Instagram or stalk Facebook?
If you’re going to be such a busybody, you might as well make money off your snooping. Say hello to Nvestly, a free social media platform for investors. Think of it as a LinkedIn account for your portfolio. It lets you connect with friends and colleagues so that you can take a peek at where they’re investing.
Here’s how it works: After giving Nvestly access to your brokerage accounts (it’s all protected by highly encrypted security) you log on to the site to see a Facebook-like newsfeed of trading activity. (Don’t worry, dollar amounts are never revealed--just the performance percentages.)
It’s perfect for novice investors who can benefit from social support. You’ll get an email whenever one of your friends buys or sells a stock you’ve invested in. And you can track $cashtags (#hashtags for stock) to stay informed. So say you’re interested in $GAP; clicking on the cashtag will show other users who hold that stock.
Everyone’s profile has a little percent symbol showing their rate of return for the year. So when you see that your super-smart college roommate just bought TSLA, perhaps you should look into it too. Keep tabs on high rollers’ portfolios. Who knows if one of your friends might be the next Warren Buffett?