ShareBuilder, e*trade and Ameritrade are sites that enable a person to buy stock. Most of you are familiar with these sites, because they're constantly being covered by the A-List personal finance bloggers. But what if you're a novice at buying and trading stocks? What if you want to invest, but you're nervous about doing it on your own? You simply don't have the time to do the research or don't even know where to begin? Vestopia may be the solution.
What is Vestopia?
Vestopia is a site created to help the novice make sound investments by watching professionals. This site will help you learn how to invest by example.
How does Vestopia work?
As a member, you decide the investment strategy that is best for you. After you decide what your goals are, you find an investment director that exemplifies that. How can you choose the right investment director? You can read their bio, their blog and examine their investment portfolio to make an informed decision. The investment directors use their own money, so you know that they are going to be cautious with their decisions. The stats for their investment portfolios are displayed in real time. What does that mean to you? You can mimic their actions and benefit from their knowledge.
Visit the Vestopia blog where the investment directors share their thoughts. You can add your input to the conversation. Through the blog, you can stay informed of what the other investment directors are doing.
I'm going to test this site further. I'm interested in seeing the results. In theory, it sounds like a great idea. Let's see if it works for a novice like me...