Reilly, Oliver (2012) The Investment Industry and Social Media. Masters thesis, Dublin, National College of Ireland.
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This thesis describes the design, implementation, testing and user evaluation of InvestClub an investment portfolio management application that incorporates and harnesses the power of social media. The application allows people to create and share investment portfolios with other people. People can choose to follow other investor portfolios meaning that changes in a lead portfolio will be replicated in follower portfolios. Lead portfolios benefit by receiving a commission from follower portfolios while followers benefit from not having to actively manage their portfolios.
To tap the potential of social media the application allows investors to create prediction markets to help them make better investment decisions by harnessing the wisdom of investors that are tracking them. In addition, investors can interact with their followers through the creation of information threads and comments.
Finally there are the added benefits of complete transparency of transactions, stock price movement charts, performance analysis, stock screening and information feeds from the sources such as Twitter, Yahoo Finance, etc.
The application will undergo usability testing by a number of people and the results will be documented. The business model behind the application will also be assessed by industry experts. Suggestions for improving the application will also be documented.
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