TD Ameritrade (AMTD) is working with LikeFolio -- a new website that leverages social media to uncover investment opportunities. LikeFolio aggregates all conversations happening within your social networks. It tracks activities including status updates, likes, wall posts, etc. that are linked to publicly traded companies. LikeFolio then generates a "Top 5 Most Mentioned Stocks" list and a hypothetical portfolio of the companies trending within your social networks. From there, visual graphs show users how they would perform over a 12-month period if they were to make an initial $10,000 investment in these companies.
"LikeFolio exposes non-investors to the investing world, almost like the Peter Lynch model: Invest in what you know," said Nicole Sherrod, Managing Director of TDAmeritrade's Trader Group. "It's available via Facebook and Twitter and could potentially expand in the long term to other social media platforms."
When asked if LiveFolio allows new investors to remove emotion from the process and make the most well-rounded, educated decisions Sherrod explained, "It is a tool designed to spark interest, not provide recommendations. When a potential investor is ready for a second look, he or she signs up for a TD Ameritrade account. As with all new clients, we refer them first to our educational and risk management tools and coaching before placing a trade -- regardless if you are a new investor or more experienced."
How it works: ¿ Users visit www.likefolio.com to sign up and connect the web site to users' social networks within to Facebook and Twitter
¿ LikeFolio searches all of the users' and users' networks' social activity for any mention of a public company's brands and products
¿ LikeFolio then generates a "Top 5 Most Mentioned Stocks" list and a hypothetical portfolio
¿ Finally, LikeFolio generates a report showing how the portfolio would have performed over a 12-month period following an initial investment of $10,000
¿ Users can share their LikeFolio Top 5 via social channels or, if they are ready, open a brokerage account with TD Ameritrade and start investing
For more information on Likefolio, please visit: www.likefolio.com/users/sign_in
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