Social Network Investing with UpDown.com
Posted By RichC on April 2, 2008
As the online social networking trend continues to grow, there seems to be a site for every interest. If you enjoy trading and investing UpDown.com has a smooth running site that might even pay you for your participation. First, if your portfolio beats the S&P 500, you’ll earn monthy monetary rewards. Second, if you are a ‘good’ stock analyst and can write solid views on particular stocks, UpDown.com will pay for top advice. Third, refer a friend using the form and receive a 10% bonus based on how much these people earn money and participate.
Besides the monetary reason to join, the site is easy to used and a great place to gain insight or just fluff from other traders and investors. The mechanics of the site run well and building a watch list, analyzing companies and buying stocks is easy.
I’ve yet to participate in the ‘groups,’ but have read some of the impressive returns of their members. Yes when its ‘play money’ traders can take more risk, but there are a few with pretty good insight at picking stock buy and sell points. There is a 20% maximum that can be owned in any one position and a 5% limit based on daily trading volume of stock that you desire a position in … along with a $100 ‘virtual dollar’ commission per trade. You can only sell short if your buying power exceeds the size of the short position.
UpDown.com Social Networking guys was launch a few months ago by a few Harvard Business School students (same place Facebook founder came from) CNBC did a segment back in September 2007 when the site launched; check it out below.
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