Openfolio allows users to link their brokerage accounts to an app that helps them mark their own progress and compare it with their peers. The goal is that users help guide each other to better investment decisions.
Looking at the 2014 performance of the portfolios of 3,000 of its users (not a nationally representative sample), Openfolio found that women outperformed men and a bevy of other interesting data points:
-- Women returned on average 5.3% last year; men, 4.9%
-- West Coast investors returned 5.9%, versus those in the Midwest (4.7%), the East Coast (4.5%) and the Southeast (3.1%)
-- Older investors did better: Those aged 50-to-64 returned 8.6% in 2014, versus those younger than 25, who returned just 2.2%
-- Teachers outperformed other professions, returning 8%; those who work in finance, for instance, returned just 4%; unsurprisingly, energy workers were up just 0.7% last year
-- Those born under the zodiac sign Gemini (May 21 to June 21) returned 7.6%, the highest of all the signs; summer months (Cancer and Leo) performed the worst, returning just 1.6% and 1.2% respectively
"Investors on the West Coast are heavier in tech stocks and did well in 2014. In the Southeast, they are invested more heavily in energy and didn't do as well," says Hart Lambur, the New York-based start-up's co-founder, giving some insight into the numbers.
Lambur and co-founder Yinon Ravid both spent time on trading floors at Wall Street investment banks and found that the best investing and personal-finance advice they got was from their colleagues. Openfolio is designed to mimic that kind of community for its investors.
The average size of an Openfolio portfolio is around $400,000, approximates Lambur, adding that the company doesn't store that kind of data to protect user privacy. It has a user base in the "low double-digit thousands" and is growing about 10% a week, Lambur says. Men outnumber women on the platform nearly six-to-one. Openfolio has six employees and closed a $1.8 million seed funding round in the summer of 2014. More from the Openfolio data here.