Wed, Jun 29, 2016
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   |   
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. Blackstone buys minority stake in New York-based credit hedge fund Marathon[more]

    Benedicte Gravrand, Opalesque Geneva: Blackstone Strategic Capital Holdings Fund, a vehicle managed by Blackstone Alternative Asset Management (BAAM), has acquired a passive, minority interest in Marathon Asset Management, for an undisclosed sum. Based in New York,

  2. Investing - Soros, Druckenmiller among hedgies profiting in market plunge, Hedge funds were most bullish on bonds since 2004 before Brexit, Surprise Brexit vote unleashes scramble for dollars, High-yield hit on Brexit but no panic selling, Scientist turned hedge fund founder lured to pound, euro, Hedge fund avoids commodities, posts big gains[more]

    Soros, Druckenmiller among hedgies profiting in market plunge From HITC.com: Bullish positions in gold and volatility and well-timed short bets on China and emerging markets, among other areas, were some of the trades that benefited hedge funds on Friday as markets digested Britons' s

  3. Manager Profile - A 26-year old hedge fund manager called Brexit — here's what he thinks about the historic vote[more]

    From Businessinsider.com: Taylor Mann is not your typical fund manager. The twenty-six year old Texas A&M graduate manages Pine Capital in Larue, Texas (population 160), where he resides with his three-year old daughter. Also atypical compared with many of the largest funds out there, Mann makes

  4. Visium hedge fund manager Sanjay Valvani found dead[more]

    Benedicte Gravrand, Opalesque London: A hedge fund manager connected with an insider trading case has apparently committed suicide. Sanjay Valvani, 44, a hedge fund manager at New York-based Visium Asset Management, was found dead in an apparent suicide on 21 June in his Brooklyn residence,

  5. People - Mariner Investment’s co-CIO Williams to leave $5.5bn firm, IOOF hires new alternatives portfolio manager[more]

    Mariner Investment’s co-CIO Williams to leave $5.5bn firm From Bloomberg.com: Basil Williams, co-chief investment officer of Mariner Investment Group, is leaving the $5.5 billion hedge-fund firm after negotiations to renew his contract failed. Williams will stay in his role until t