Openfolio Tune Up

Crowdsourced intelligence → smarter investment decisions

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Discussion

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Hart Lambur
Hart LamburMaker@hart_lambur
Hey PH! We looked at the data from our community of 25k and found that 70% of investors are making basic (and costly) mistakes. This is crazy! We built our Tune Up to help fix this. The data behind this is pretty awesome. After discovering that most investors make some dumb mistakes (http://ofl.io/3_mistakes), we dug deeper and found that following 4 simple investing maxims can *double* your returns and improve your risk adjusted performance by 230%. (Not typos). The Tune Up builds this analysis directly into our app, personalized for your own investments. Some infographics about this: http://ofl.io/tuneup_pdf The Tune Up is huge for us – it's a major step forward in the Openfolio vision of helping guide the everyday investor with the expertise of our community. We’d really love to hear what you guys think!
Jack Smith
Jack SmithPro@_jacksmith · Serial Entrepreneur & Startup Adviser
@hal2001 looks like a great new feature. Disappointing that there's still a large lack of brokerage integrations though, which mean I can't really utilize it. I mainly use: TradeKing; Personal Capital; Motif Investing; Loyal3; RobinHood. None of which are available to integrate.
Hart Lambur
Hart LamburMaker@hart_lambur
@_jacksmith TL;DR version: We're working on all these and will add support ASAP, esp for Robinhood. In more detail: Jack, I love that you adore all these next gen investing services! (I think you might have the record for going 0 for 5 with integrations). We have focused on supporting the biggest brokers (Etrade, Fidelity, Vanguards, etc, as well as Wealthfront and Betterment), but we desperately want to build connections into the services you mentioned. Robinhood is a top priority (we love them), followed by TradeKing. Our Motif integration is in beta. We'll keep you posted.
Jack Smith
Jack SmithPro@_jacksmith · Serial Entrepreneur & Startup Adviser
@hal2001 sounds good. Personal Capital seem to have working integrations for a number of the services, so you might want to take a look at whatever they're doing. I'd actually suggest prioritizing Tradeking/Motif over Robinhood. - as much as I like the service; Robinhood seems positioned as more of a recreational tool (at least for me), given it's mobile only etc. I don't use it as my primary trading tool.
Simon Burns
Simon Burns@realsimonburns · Growth at Opendoor
@hal2001 This is awesome - love the feature. Pretty awesome how the MPT gets across in a visual and interactive way. Now that the Openfolio dataset is large enough all sorts of implementations become possible, even at this stage the product teaches users how to invest in intelligent ways (few trades, indexing, low fees) without reading extensive literature. Curious what kind of insights a top 10% investor get based on the Openfolio social graph?
Hart Lambur
Hart LamburMaker@hart_lambur
@realsimonburns the top 10% investor is a curious beast. To the extent that the top 10% investor can *stay* in the top 10%, he/she probably shouldn't change a thing. But that's really hard to do! Instead I hope we can evolve Openfolio into something that can alert an investor – even one that's doing really well – about the risks they are taking. Putting your portfolio in context, personalized for your own investing strategy/goals... we hope that has value even for the pros.