Anti-bank feeling has resulted in the public looking to take more responsibility for investing their own money.
A new website has come up with a simple but novel way to help the regular Joe invest his own money and avoid the advisory services of financial institutions that are perceived to have let the public down.
Shared Sense is based on the theory of famed investor and mentor to the man on the street: Peter Lynch. The site takes his ideas of “invest in what you know and that the best stock tip is in front of you in the mall” and goes a step further. It allows people to share these observations on a worldwide basis and so helping people gather market research through group thinking.
It uses the wisdom of the crowd to get people’s views on what is selling or not. Put simply, people can give an opinion on what brands are hot or not in their area. The information is gathered worldwide and the site gives back the total view on what people see as popular or not.
As increasing or decreasing sales is generally the most important investment criteria, members can use the information as part of their investment decisions.
The site editors take this information and add their experience to it. They analyze the other important factors including financials, margins and outlook and give full stock tips to members.
The site is not another stock price prediction site but focuses on identifying brand popularity to give regular investors an edge. The themes of the site are honesty and humor – the idea being to strip stock picking of all the overly fancy jargon and replace it with raw honesty. The top predictors are invited to join to the site as full authors.
Ned Goodwin, Shared Sense founder says: “Why can’t stock picking and investment be based on a co-operative system where people help each other by sharing information on buying trends? This is a practical way of occupying Wall Street — taking the power of investment decision back to the people. People helping themselves to get an investment edge. As Peter Lynch said, if you’re buying the product it might be worthwhile buying the stock. We’re saying if you know we’re all buying the product it’s definitely worthwhile buying the stock.”
CONTACT: Eddie Goodwin, +1-617-331-6999, Eddie@sharedsense.com
Web Site: http://www.sharedsense.com
Tagged with: Bears • Bulls • Business • DJIA • Investing • Investment • Markets • Mutual Funds • NASDAQ • NYSE • Peter Lynch • ROI • SEC • SharedSense • Stock • Stock Investing • Stock market • Trade • Wall Street
Filed under: Business
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