There?s no shortage of stock advice these days on TV channels, investment magazines and online portals. Sometimes the volume of advice can be overpowering and in the majority of cases you don?t know how reliable the analyst giving the advice has been in the past. Moneyvidya.com is solving this problem with a unique new business model; crowd sourced stock advice.
Moneyvidya.com is a new public platform where any equity analyst whether short term or long term, can prove their expertise by making stock recommendations (stock picks). The website monitors the performance of these picks and uses a proprietary rating system to identify the best performers.
Members of the moneyvidya community can see the performance records of every analyst on the website, assessed across a number of dimensions including profitability, reliability and risk. Having considered their past performance, and based on their investment style, community members ?follow? the analysts of their choice, getting access to all their latest recommendations both on the website and via e-mail and SMS.
The company recently launched its Beta website and has already attracted 15,000 members. The service is currently free but the company has plans to launch a paid version soon, with a portion of the revenue to be shared amongst the top performing analysts.
Although anyone can try to become a rated analyst on moneyvidya, the performance requirements are stringent and as a result the top spots are mainly occupied by market professionals; analysts, small brokers, independent PMS providers and professional tipsters.
To date the performance of moneyvidya?s top analysts is certainly impressive. As of June 1st, the top 5 analysts included one day trader, three short term traders and one investor. These analysts alone have a success rate of close to 80% and have on average beaten the Nifty index by over 4% per month consistently.
In the past people may have relied primarily on marquee brands for stock advice but CEO, Gautam Kshatriya sees moneyvidya?s success as evidence that this is changing. He said “For a long time brand was the key factor but things have changed since the credit crunch. People are questioning the amount of faith you can place in a brand per se. For our members, analyst performance is far more important than whether or not they work for a big player.?
Fittingly the company has adopted ?Performance matters? as their motto, so one would assume they expect these results to be repeated.