How do you use social media? These days not only are people liking and commenting on posts, tweeting a hilarious hashtag or drooling over photos of brunch, they are investing in their financial future. The networking of social media has changed the way a generation is making decisions regarding their finances. With new innovations and user friendly apps, it’s getting easier to make connections with experienced professional traders and join a group of peers to learn together.
By connecting to the trading floor with a few taps on your smartphone, your portfolio building can begin. Follow the top investors and try to glean any insights on potential money making opportunities. The app StockTwits helps active investors network and follow the pros. It also integrates social platforms such as Twitter, Facebook and LinkedIn.
The popular database FRED has a mobile version that gives users access to almost 210,000 data series from many sources providing useful economic indicators and relevant data. As well as view analyst’s reports and a company’s financial numbers, with the new media you can monitor your own finances at any time creating confidence in building your portfolio. Even the banking institutions are utilizing the advantages of apps for trading and investing such as TD and the Bank of Montreal. It’s a medium this generation is comfortable using and even with recessions and economic collapse those that are doing well financially want to increase their capital.
So next time you notice a young commuter making her way to Bay St. do not assume she is playing a silly game but in fact she may be grabbing the bull by its horns and buying stocks in the next big thing. However with all the new platforms the clichés are the same, “Buy the Rumor, Sell the News”…. now you can just share that news instantly!