MoneyVidya – Pick stocks based on community suggestions..[Review]

MoneyVidya is a recently launched startup that is attempting to marry stock trading with social networking/community.

Essentially, users can pick stocks, discuss investment strategies, rate other users and based on user’s credibility, decide on their picks etc.

Started by finance consultants, MoneyVidya boasts of a strong member rating system which is based on the average profitability and riskiness of member’s previous picks and the quality of the analysis accompanying these picks, as determined by the wider community, takes into account the variation in returns and analyze risk separately from return.

Our differentiator from standard message boards and other social investing site is our superior and constantly improving member rating system, based on the performance past advice (stock picks) that the member has shared with the community in the past. this rating is based largely on return and risk. for example if you make a stock pick to ‘buy’ hindustan lever for one month -  we track the return and the volatility of the stock during that period. based on the average performance of your picks you are given a relative rating.

on existing websites / messageboards users are anonymous, and even if they are rated they are likely rated by user feedback, rather than performance. this can be misleading. tipsters have blogs and sell advice to unsuspecting clients who are drawn in by greed and fooled by partial (positive only, peppered with a few losing tips to fake authenticity) performance data provided by the tipsters themselves. offerings tuch as power your trade are composed of a panel of self / media proclaimed experts, again with partial performance information. on our website however, even a young analyst / retail investor sitting at home can be an expert, as long as they have the moneyvidya rating to back it up. on our website, there is full transparency.

Unlike sites like MarketHero (which is into fun/games around stock market), MoneyVidya is positioning itself as a serious player where users share serious advice/feedback to the community.

While the site is nicely laid out, I have serious questions on the overall value delivered : Think of it – serious players are on moneycontrol and if you need to bring them to moneyvidya, what extra value should you deliver? Is community play the rightmost way to go?

While I strongly believe that Moneycontrol needs some serious competition, I’d urge MoneyVidya team to bring in some sort of authority in this space (maybe, the portal first needs to bring in market experts to lead the way?).

Do give MoneyVidya a spin and share your feedback.

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