Covestor and CVIM Blog

The rich lose faith in financial institutions

In this week’s Economist there's an interesting article discussing how “the rich have become disillusioned with the people who look after their fortunes”.  It quotes some research carried out by Harrison Group that found that 63% of wealthy Americans have lost faith in financial institutions and goes on to suggest that accessibility of data and impartiality of advice has been the cause of this breakdown of trust.

 

Later in the piece Stefan Jaecklin of Oliver Wyman is quoted saying that ‘the industry needs to move to a model where advice is being charged for and money flows are transparent’.

You can read the full article here.

Members In The Press (Follow Up)

Following on from an earlier post, we are delighted that so many members we put forward have been referenced in recent articles about the market conditions. These have appeared in the press worldwide, highlighting the quality of investors in the Covestor community.

Recent citations include:

• Peter Kurata - Talking about the opportunity presented by high commodity prices
• Bob Freedland - Talking about how he is reacting to the volatile conditions
• Sean Hannon - Talking about the impact of a weak dollar for consumers

In many ways our favourite example is the pick up that Fred Penney's comments have had in his native Newfoundland.

Having been quoted on his views re handling stock market volatility, he made front page news in his local paper, The GFW Advertiser (click on image to the right). Local radio station, CBC, followed this up with an interview and have now asked that he appear occasionally on their show.

Many congratulations to them all - if you would also like to be put forward for press requests we recieve, please get in touch.

Members In The Press

Following our post last week looking for members happy to talk to journalists about the current markets, it was great to see two of our finest in yesterday's Forbes article 'Plan for Long Haul but Tweak Holdings', through the Associated Press.

The two members quoted are Robert Freedland (also a popular stock blogger at Stock Picks Bob's Advice ) and Sean Hannon. Alongside their commentary you can see what both are actually doing with their investments in real time on their fact sheets. Many congratulations to them both!

Per our previous post, given the quality and transparency of our members, Covestor is increasingly viewed as a highly credible source of comment so if you would like to be put forward for future coverage let us know.

Press Request: Weathering The Storm?

We are receiving a number of requests from journalists right now who are looking to give their readers guidance to navigate these uncertain times. With the movements in the markets making headlines daily we are being asked to pass on great self-directed investors, willing to share their perspectives.

If you would like to be put forward, or just have a view you would like to share in print, drop us an email. Let us know what types of investments you are looking at, where you are moving your money to or whether you are standing firm. We will pass these on.

Our role at Covestor is to give our members a platform to help others and to build their reputations. As one of the highest quality investment communities on the web, look out for further opportunities shortly to share your experience.

Covestor on Reuters TV

Aug 21 - As many investors try to find new ways to deal with an ever-changing market, online traders move toward Web 2.0 tools like blogs and podcasts for new investment strategies....

Chicago Radio Appearance 08.04: Tune In

This Saturday afternoon, 08/04, Covestor CEO Rikki Tahta will be appearing on Chicago's WGN Radio show - The Money Show with Bill Moller:

Rikki will be on air at 1.30pm Central Time. Call in with questions or just listen to the show live over the internet by clicking on listen now button on The Money Show homepage

Stock Bloggers Embrace Covestor

A great article ran last night on Reuters, which was then picked up by The Boston Globe among others announcing our partnership with Seeking Alpha and highlighting the rapid uptake of Covestor among the stock blogging community. Many blogs are already displaying Covestor widgets on their pages and promoting the service to their readers. Although we only launched publicly on June 5th we are delighted to already have an estimated five percent of stock bloggers using Covestor to track their performance. As a result we have added a page highlighting stock bloggers under our members section:

A number of our favorite stock blogs have also offered membership codes to their readers and we wanted to take the opportunity to thank some of them. Big thanks to:

   Trader Mike
   Bill Cara
   Downtown Trader
   thebulltrader.com
   Stock Insight

Covestor on Wallstrip

Today our CEO Rikki Tahta makes an appearance on the fantastic daily video show Wallstrip. We are big fans of Lindsays' so great to see Rikki on there. It is also his birthday today so VERY HAPPY BIRTHDAY 'Rikki Rikki Tahta' from everyone here at Covestor!

Covestor Co-Founder talks to WJR

Covestor Co-Founder and COO, Simon Veingard spoke this last weekend with WJR Radio Internet Advisor hosts Gary Baker and Foster Braun.

You can listen here: 

Covestor in the news

Covestor has had some excellent coverage in the press over the last few days. See our Chairman and Co-Founder, Rikki Tahta, talking on CNBC's working lunch yesterday: