Fri, Apr 25, 2014
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Industry Updates

One in three "Generation Y" users utilizes social networking sites for managing investments

Monday, June 06, 2011
Opalesque Industry Update - The popularity of social networking sites is changing the way people invest their money with the new networking trend altering the investment playing field.

According to a report by Northwestern.edu social networking sites like Betterment.com, an alternative investing site that pools investment data of users, allows “unsophisticated” investors access to credible information on various portfolios.

Camille Varlet, a 32-year-old marketing manager at L’Oreal in Chicago told Nortwestern.edu that she finds the Web site convenient because of its accessibility and user-friendly features.

Chief Executive Officer Jon Stein said their Web site provides social data that users can share among themselves and at the same time track what other people are doing.

Varlet was quoted as saying “It’s not like you have chat rooms. But I can see what my peers are doing. They are aggregated and [the information] comes from a credible source, so I can still track and see what they’re doing.”

Indeed the Internet is changing the way people invest and social networking sites are now able to penetrate markets that are off-limits in the past. It is also changing the investment landscape, particularly how the public manages their portfolio. But the biggest benefit of these social networking sites to the public is that it gives them some degree of control over their portfolios.

An independent survey by TD Ameritrade Holding Corp., revealed a similar finding when it found that one in three “Generation Y” users has utilized social networking sites for managing their investments. Precy Dumlao

What do you think?

   Use "anonymous" as my name    |   Alert me via email on new comments   |   
Banner
Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing
  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Opalesque Exclusive: Rainwater and Blue Sky - an Australian water fund emerges[more]

    Bailey McCann, Opalesque New York: Financial reporters often tout new funds and investments as uncorrelated investments, but few can say they are uncorrelated to everything but weather. Enter Blue Sky Alternative's water fund which invests in the permanent rights to Australia's water. Sev

  2. Regulatory – Expect greater SEC scrutiny of hedge funds that share information or collaborate in advance of their trades, Alternative funds to get SEC test for leverage, liquidity[more]

    Expect greater SEC scrutiny of hedge funds that share information or collaborate in advance of their trades From Thelawyer.com: A recent Wall Street Journal article — ‘Activist investors often leak their plans to a favoured few’ — focused attention on ‘activist’ investors and stock analy

  3. …And Finally – This week's least competent criminal is Austrian[more]

    From ABCnews.go.com: A German sought by authorities for alleged fraud has been arrested in Austria — after dropping into a police station to ask officers whether he was under investigation. Police in Salzburg said the 59-year-old man walked into a police station in the city on Friday night. Sp

  4. Investing – Hedge funds find pitfalls along with profits in real estate ventures, Marcato Capital Management makes new bet on Dillard’s[more]

    Hedge funds find pitfalls along with profits in real estate ventures From Law360.com: Hedge funds have joined the rush to real estate deals and development in recent months to close the financing gap left by tightening bank standards, but attorneys say many aren't prepared for the disclo

  5. Agecroft Partners estimates 90% of hedge funds using social media[more]

    The use of social media has increased significantly within the hedge fund industry over the past couple of years. Social media is broadly used by investors as part of their due diligence process on hedge funds, by service providers in their sales efforts to hedge funds, and by hedge funds to enhance