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September 4, 2014

Openfolio – Make Smarter Investing Decisions

ss-openfolio
Openfolio capitalizes on the power of its users’ personal networks to help them make smarter, more strategic personal investing decisions. Inspired by the open culture on Wall Street, where professionals regularly share ideas to help each other succeed, Openfolio replicates the experience of working on a trading desk for its everyday users.

When you use Openfolio, you can start learning from the investments that other users have made. Create an account and upload your own investment information into your profile, and Openfolio will provide you with benchmarks that show how you’re doing compared to other people in your network. The application will also show how your performance compares to the markets in general, along with an established roster of “financial experts.” Portfolios are represented in percentages, as opposed to dollar amounts, which means you don’t have to show people how much money you’ve invested in specific stocks in order to use Openfolio. Additionally, Openfolio will only show your performance if you’re doing well. Users who aren’t happy with the results of their investments can opt-out of having their results shown and stay completely private.

Real-time notifications let you know when important investing trends have popped up or when specific stocks that you’re interested are being discussed by people within your network. This information may then spur you to change up your investing roadmap, or it may help you feel more confident in the decisions you’ve already made.

Practical Uses:

  • Improve your personal investments
  • See how your investing skills compare to the skills of other people in your network
  • Get investing advice from legendary financial experts
  • Show people the individual components of your personal investments

Insider Tips:

  • Opt-out to keep your performance data hidden from view
  • Nobody has access to users’ private raw data
  • People can use Openfolio even without having brokerage accounts
  • Openfolio uses bank-level security

What we liked:

  • People can show off what they’re investing in and how much they’re investing
  • Openfolio never shows any of your actual dollar amounts
  • Openfolio only shows the performance of top investors
  • Users can view the portfolios of people inside and outside of their networks

What we didn’t like:

  • Nothing

Alternatives:

  • Privately Held
  • Headquarters: New York, New York
  • Founded by: Hart Lambur and Yinon Ravid
  • Web site: https://openfolio.com

Costs:

  • Free