I am not big on investing books, but a new book published by Wiley called ” Tradestream Your Way to Profits” – Building a Killer Portfolio in the Age of Social Media- caught my eye. Many clients have called me to discus if there are any ways to use social media tools to enhance their investing strategies?
Zack Miller’s ( my colleague) book answers this question with a resounding ‘Yes’. Miller takes the reader on a journey of the last 30 years in investment philosophy and shows how social media bridges many of the gaps of the last 30 years to help make more informed investment decisions.
Let’s face it. Most if not all investment representatives and advisors do some kind of piggybacking of investment ideas. Whether it’s reading about an analyst recommendation on a certain stock, or hearing a hot pick on CNBC or even around the water cooler, very few investors actually come up with their own ideas. Rather, they hear or read something and they use that as a source of idea generation and proceed to do research on the stock and then decide whether to pull the trigger or not. In my favorite chapter, Miller talks about using certain social media sites to piggy-back off the top hedge fund investors. He explains how you can use these tools to create portfolios similar to the Joel Greenblatt’s and and Bill Ackman’s of the world.
If you are a do-it-yourself-investor, take a look at Tradestreaming, as it has the potential to help your investment decisions, and hopefully will make you a better investor.
Aaron Katsman is a licensed financial professional both in the United States and Israel, and helps people who open investment accounts in the United States. Securities are offered through Portfolio Resources Group, Inc. a registered broker dealer, Member FINRA, SIPC, MSRB, NFA, SIFMA. For more information, call (02) 624-0995, visit www.aaronkatsman.com or email email@example.com.
Disclosure: no positions