Now that I got your attention (by including the word Bitcoin in the headline...) I wish to tell you about a meaningful change in the asset management industry (don't worry, I'll come back to investing in Bitcoin).
Fund Research 2.0
19 years ago, when Stephen Kaufer, the founder of TripAdvisor, was planning his trip to Mexico he went online and all he could find were glossy brochures of different resorts. What he really wanted were first-hand opinions from those who had been there. It was the height of the dot-com boom, but the principles of Web 2.0 had yet to take hold.
Nowadays the idea of selecting products and services based on user ratings is widely common in almost every industry besides the +40 trillion Dollar fund industry.
Two year ago I decided that it's time for change and thanks to our super talented CTO (who is also my co-founder and brother) SharingAlpha was launched.
In order to motivate professional fund buyers to add their fund ratings we came up with a mechanism in which we rank our raters on the basis of how close their predictions turned out.
Now that we have managed to attract close to 1,200 vetted members to our growing community we are ready to offer them not only a way to build up their track record but also a unique tool to conduct fund research in a more social way.
We included a number of features that are intended to enable fund selectors to share ideas and offer them funds that might be relevant to them.
Here are a few of the latest functionalities that were added:
Screener - Our members can search for funds in different investment categories that have been highly rated by our community of professional fund buyers.
Chat - The different fund pages include the list of professional fund buyers that rated the fund. Members who wish to chat with their peers and exchange views on the fund are now able to do so on SharingAlpha.
Follow - Members are now able to select funds they wish to follow, meaning they will receive alerts on funds which they haven't necessarily rated.
Alerts - Members are notified once the rating of the funds they rated or followed has changed or when new comments have been added by their peers.
RFI - Members are now able to request further information about a fund they wish to look more closely at.
Suggestions - Based on members behavior on the platform, SharingAlpha suggests to them funds which they might want to consider (very similar to the suggestions one receives while using a site like Amazon).
Finally, in order not to disappoint those that made it up to the end just to learn about an easy way to invest in Bitcoin, I would like to mention that last month the first European mutual fund that invests in crypto currency was launched.
Just remember that this is a classical case in which past performance is not an indication for future results - further fund research is needed - for that purpose you are all more than welcome to use SharingAlpha!