With mobile devices and online brokerages at our disposal, it is now easier for anyone to be involved in the stock market, regardless of investing experience. I have a friend, a software engineer, who recently opened two online trading accounts, despite having very little investing experience. These days, it seems he can’t stop talking about the gains he has made on his Google (GOOG) investments.
The paradigm shift in investing, however, has resulted in a situation where financial markets are saturated with investors who mostly focus on quick returns rather than investing for the long term. This need for short term gains has led to high market unpredictability.
Creativity sometimes goes with unpredictability. As investors find themselves faced with highly volatile markets, they have evolved the ways in which they conduct stock research. Social media as a segment is at the forefront of this investing and research transformation. In just the past five years alone, we have witnessed an influx of social media sites that cater specifically to investors. These sites are commonly referred to as social investing sites, and, for better or worse, they are changing how investors conduct their research and buying or selling of stocks.
The recent launch of MarketConsensus.com highlights this trend. This free website aims to be a revolutionary social media platform that allows investors to gauge public opinion on their own decision to buy or sell a stock at a specified price. It is designed to be especially helpful to the millions of individuals who are interested in the financial markets but lack access to the sophisticated algorithms and tools available to high-frequency investors.
A former financial consultant at both Goldman Sachs and Deloitte Consulting, MarketConsensus.com founder Ogbe Airiodion was frustrated with the difficulties faced by average investors when using social investing sites. “Thousands of posts made tracking conversations or starting new ones nearly impossible,” said Airiodion. “In addition, there were no simple platforms where I could curate conversations around my own investing decisions.”
Unlike most social investing sites that limit investors to following other traders or contributing to stock conversations, MarketConsensus.com empowers them to initiate a discussion around their own investing decisions. Only MarketConsensus.com features a simple “Yes” or “No” system for specified stocks. For example, with a few simple mouse clicks, an investor can ask, “Is Apple (AAPL) a sell at my $640 target price?” or “Is Google (GOOG) a sell at my $745 target price?"
After buying or selling a stock, average individual investors frequently wonder if they’ve made the right decision. It is this worry that MarketConsensus.com aims to put to rest by giving them a market consensus. By polling other online investors, users will know the exact percentage of those who agree or disagree with their decision to buy, sell, short or hold a stock. Do you have nagging doubts about that stock you just sold? Well, maybe it’s time you put your doubts to rest by making a request for consensus today.