Has it ever bothered you how that man with a big mouth in your annoying brother in law’s office does so well for himself? Do you have any idea of a smart investor who you think would help you around with these networking tactics – and all that within the privacy of your computer?
Here we bring you Covestor which is a brand new site and discovering it helped me realize that it encourages copycat investing. The concept followed by this site is pretty much simple but quite unique at the same time.
Convestor enables self directed investors to upload their portfolios and bio data online including the kind of trade they make. But you must be thinking what is new about that.
Well what is novel to Covestor is that those investors who are successful can actually share their own portfolios and trades with other members on Covestor. If you do not know how to or do not have the time to pick your own stocks, all you need to do is follow peer smart Covestors and do exactly what they do and voila!
The Covestors possess a sense of making concepts with investors who have a special working mechanism or personal knowledge about how the industry functions and the various sectors that are targeted. So if the one expert is wanting to put his money where he believes his talent lies, it would be rather helpful for the rest of us to know where that money is going finally. All you need to do really is just check them out.
Speaking about imitating the smart investors, we get reminded, how about we send the economic team affiliated with Obama to Norway for some education? The reason why Norway has apparently been left largely unscathed by our worldwide economic meltdown is Norway’s conservative measures in practicing banking, saving and housing. Of course everybody does not fall for the Norwegian success rate.
An eminent economist is of the opinion that Norway’s economy is an oil for leisure practice and is trying to get Norwegians out of the sauna and back to work. It is rather interesting that guys with absolutely no luck in money are writing about money just everywhere.
What I have been thinking is if economic historians would ever look back at our experiences as a country and call it a debt for leisure practice? All the borrowing and spending we indulge in has caused an excessive and unnecessary leisure which in reality is referred to as unemployment.
