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Really interesting concept! Are you planning on adding index fund investing in the future? It seems like you could incentivize investors to take a long term vie
by felixledem 6y ago
Really interesting concept! Are you planning on adding index fund investing in the future? It seems like you could incentivize investors to take a long term view with a similar, gamified approach.
- adammoelis 6y agoWe haven't thought about this yet but that's interesting. What kind of index fund gamification do you have in mind?
- basch 6y agoThere was a company, forcerank, that was fantasy stock market. Rank stocks based on expected performance, and winner gets points, with cash prizes. They ran into a little SEC trouble, so careful with gamificating investing. https://www.sec.gov/news/pressrelease/2016-216.html https://www.sec.gov/news/pressrelease/2016-216.html That said, it was a fun idea. Instead of picking lottery numbers, ranking tickers in the right order, and then pulling a date out of a hat? Something that only operates on past data?
- adammoelis 6y agoInteresting I'd never seen this. We will look into this for sure. Thanks for sharing
- ctchocula 6y agoPerhaps instead of paying out the dividend payment as usual, you can make the user receive tickets based on how many index fund shares they own, and you can fund a lottery using the dividend payments. The user can sell their index fund at anytime, so it would be the same as keeping their money in the savings account except they have better odds of beating inflation than a savings account. If you limit the savings options to tried and trusted savings vehicles - savings account, total bond market, total US market and total international - perhaps you can instill investment knowledge in the users on top of the good savings practices.