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Ask HN: disrupting fund management
in April 2011 IBM released a repirt that the fund management industry destroys $ 1.3 trillion globally each year - through bad advice, high fees, underperformance...etc. The report was pulled 4 days later...I've been in this industry
myself for a very long time and know that this figure is probably correct.That prompted me to create a platform that will allow a user to select from a number of academically and empirically researched investment approaches one or more that suits him/her, test it on the instrument of his/her choice and subsequently invest accordingly.
At the moment it is very patched up with no interface etc. Looking for pot. coder/CTO to turn this into a highly automated app through which at a second iteration a user can immediately invest automatically if so desired.
Any other ideas in this context very welcome.
- lutusp 14y agoWhy bother? The WSJ Dartboard Contest proves that a boring, geriatric buy & hold investment portfolio outperforms managed portfolios for the average investor, so there's no need to be met -- except to dispel the ignorance of the public about the true role played by stockbrokers (i.e. lining their own pockets at the expense of the untutored investor). Prove this view wrong -- include in your program a "strategy" that involves buying an index fund and sitting on it. Compare it to the others, as the WSJ contest did. See which approach comes out ahead over time -- as the Dartboard contest proved. http://online.wsj.com/article/SB10000872396390444024204578044390473058954.html http://online.wsj.com/article/SB1000087239639044402420457804... Quote: "The darts [i.e. the random stock picks] have historically beaten the readers [i.e. the picks of "experts"], with 28 wins out of 47 contests." Or is it your plan to make people pay to discover that the simplest strategy is also the best?
- dman 14y agoHow do I contact you?
- cjbenedikt 14y agocjbenedikt@gmail.com