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Announcing the launch of Covestor Investment Management

Ditto.

My colleague Rob Go beat me to the punch today. So I’ll just reblog his post which gives a nice overview of the new Covestor.

We are investors in the company along with Union Square Ventures. And we are super excited about this.

robgo:

I’m pleased to announce that Covestor Investment Management is launching today. Over the past two years, Covestor has been a platform for investors to share their trades and investment performance in an open and verified way. During this time, the site has attracted a vibrant community of active investors, some of which have developed very impressive track records with their own money. In addition, Covestor members have been able to follow their favorite investors and get automated alerts for each of their trades.

Today, Covestor is going a giant step further, allowing users to link their investment account to the system and automatically replicate the trades of their favorite investors in real-time. You can read more about how the system works here.

This is a completely unique system and one that has the potential to significantly disintermediate the investment management industry. It’s a system of full transparency, with no hidden costs or fees, and gives consumers unprecedented access to successful investors and visibility into their decisions.

It’s early days, but it’s welcome news in an industry where over 75% of active funds fail to beat the market. Check it out, or, start building your own track record and followers on Covestor.