Guru Networks Sell Social Stock Investing to Copycat Traders
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Internet social networks that let users follow investments the way they track status updates on Facebook are attracting record interest, turning top performers into market stars for individual investors.
Accounts at Tel Aviv-based EToro, the largest social-investment network, have climbed to 2.85 million from 1.75 million in 2011. ZuluTrade in New York says users have more than tripled since 2011. About 17 percent of brokerages serving individuals offer the ability to copy other users’ trades, according to a survey of 254 firms compiled by Aite Group LLC between October 2012 and April 2013.