Learn from the Best Investors with Financial Social Networking
If you are trying to do anything successfully in life then it is vitally important that you not only learn and gain as much knowledge as you can about the area in which you are trying to become successful, but that when possible you also learn from the best in the game. If you want to go into business for example, then learning about the philosophies and strategies of some of the best entrepreneurs out there such as Sir Richard Branson or Sir Alan Sugar could be extremely useful in helping you to make your business a success.
The same can also be true with investing. Taking the time to listen to and learn from some of the best current and past investors around could well make the difference between investing success and investing failure.
Whatever your level of experience and success in the world of investing might be, for most of us there is a good chance that there are other investors out there who are currently, or have in the past been, a lot better at it than you are. Oh, if only you could connect with these investors in some way so that you could gain more of an insight into their trading strategies and stock picks. Well, over the past few years a form of social networking designed purely for the benefit of investors has gained momentum. Financial social networking allows you to do just what we have mentioned above. It opens the door for you to connect with, learn from and in turn emulate some of the best investors around with the aim of increasing your own investment success.
Recent improvements in financial social networking
It is true to say that in the early days of the financial social networking movement, the platforms available were not as user friendly as they perhaps could have been, leading some investors to feel that the use of such platforms was becoming more of a hindrance than a help in their quest to becoming a successful investor. As standard social networks such as Facebook, G+ and Twitter have become more and more user friendly over time however, financial social networking platforms have also improved their user experience and interface to make the whole process more appealing and fulfilling.
Recently launched financial social networking sites such as meetinvest are taking things to new heights, not only allowing individual investors to connect with one another and discuss their own trades, but by also providing a wealth of information and insight into the trading strategies and principals of some of the most successful investors of recent times. Investors like Warren Buffet, Sir John Templeton and many others. meetinvest have even gone as far as to develop algorithms based on the trading strategies of these world renowned investors, strategies which you can then choose to follow in order to discover which stocks may currently be considered to be good value based on your chosen investor strategy. By utilising data from around 68’000 stocks globally, they have managed to emulate 19 trading strategies from 12 different investment Gurus for users to explore, backtracking the strategies to December of 1999 in order to prove their success. Users can connect and discuss these strategies along with over 800 other investment topics covered on the platform, whilst also sharing their opinions on more recent trading stories with the aim of helping one another to make more informed trading decisions.
These new financial social networking platforms are introducing people to the intricacies of timing stock purchases and stock sales by helping them to develop an understanding of market patterns, thereby avoiding the most common and costly investing mistakes. In short, things have really moved on from the basic social messaging platforms of the past.
So, if you’re interested in hearing the thoughts of some of the world’s best investors or if you would simply like to make connections and discuss stock picks and trading strategies with like-minded people, then financial social networking might be a new area of interest for you to explore. After all, I think I’m right in saying that there are only so many Facebook pictures of people’s pets, children, dinner plates and amazing vacations that an average person can take, aren’t there? Perhaps this could be a good opportunity to spend a little time enjoying the benefits of social media while growing your portfolio and net worth at the same time.
Have you tried financial social networking before? What did you think?