Covestor pays Investors

Are you looking for a site who pays a stock investor for picking the right stock? Then you should check out Covestor.

Covestor is an online community for self-directed investors to share their information and tricks of the trade. The unique aspect to Covestor is that it grants you the opportunity to earn revenue by providing your services to other investors.

While Covestor is free to join, it is a private community for those who have proven to be skilled successful self-directed investors. After your application is accepted, you can then utilize Covestor’s real-trade sharing service to build your track record. The data is of course kept private. Professional tools measure and display your normalized results, which in turn validate your performance so others can see how well your selections are doing. The data can also be exported with the use of a widget to your blog or MySpace.

You can view others’ portfolios and compare their performance against yours. Covestor will also rank your performance to that of the community of fellow investors.

So, if your looking to earn a little extra money from your expertise, you can offer your data to be tracked by others who invest in a managed account that makes investments informed by your data feed. You don’t have to be a registered member in order to track others. Covestor will open standard managed brokerage accounts for your followers, and each will be managed by a regulated investment manager in the appropriate jurisdiction. This feature should be live within the year.

Good investing!

SteamStreet Launches Community for Investors

SteamStreet is a community for investors to share information and play their hand at creating a portfolio. The site is currently in a private beta, but I recently came across an article that talked about a few of the features the site will have.

You will be able to pick the stocks you’d like to add to your portfolio; get a quick market summary at a glance; perform research of an individual company and make your own notes about each stock accordingly. SteamStreet will allow this information to be shared with the larger community, depending on your privacy settings. Viewing another users profile and public stock information will reveal their notes regarding a particular company their following. Information regarding an individual company can be filtered by your own notes as well.

The basic version of SteamStreet is available, however, you will have to pony up about $8 per month if you intend on using the more comprehensive analysis tools.

While SteamStreet is a community, its not the place for finding new investment friends. They take confidentiality very seriously and rightly so.

I recommend visting their website to find out more.