The everyman looks at millionaire investors and wonders, "How did they do it without Vin Diesel's sneaky fake-company tricks?" Pull back the curtain, with Covestor
Brand-new CV dishes a different twist on social investing sites, letting you view the exact trades (and the results thereof) made by all sorts of investors, from top venture-capitalists/hedge- funders, to geniuses still adamant that EnRon's undervalued. To shadow others, set up an account, then "track" any members you choose; everyone's transactions, portfolio metrics, and returns're visible, with investment styles clearly identified by terms like "consistent long-term investors" (boring!) and "volatile day traders" (fun 'til they hurl a Bloomberg terminal at you). To compare your own moves, CV'll securely link up your brokerage account via Yodlee, making it simple to benchmark your performance against other users, thereby painting a richer, more quantitative picture of who's better than you.
In winter '08, CV's gonna let you completely/partially auto-sync your account trades with any member(s); you'll either pay the "followed" member a small fee, or get it yourself if you're being followed. Or, to avoid being followed, change offices every six months, and fire Giovanni Ribisi.