Recently, I started playing around with the virtual stock application at The Updown.com. I’ve never been a single stock buyer, so I rarely keep up with what individual stocks are doing in the market. So, I thought this would be a great way for me to start researching individual companies and test out different investing strategies. A virtual stock application is not a new concept. There have been a few other web applications out there that give you virtual money to play with the stock market at no risk. However, Up Down has a fun and exciting concept. You can earn REAL money for every month that your portfolio beats the S&P 500 and if you write detailed analyses on companies and the future performance of its stock. Also, there is a great social networking aspect of the site that allows you to interact with other amateur investors.
Here are some specifics about the site:
- You get $1,000,000 in virtual money to start virtually buying stocks for your portfolio.
- You can invest in individual stocks and/or Exchange Traded Funds (ETF).
- You can start your own investing group or join an existing group to discuss investing strategies and stock picks.
- You can create analysis on individual stocks to give your opinion about why a certain stock perform well or perform poor.
How To Earn Money On UpDown.com
First, you need to Register Here with the site. Then, develop your portfolio and start writing analyses on your favorite stocks. If the other users of the site give your analysis high ratings and your portfolio starts beating the S&P 500 on a monthly basis, you’ll start earning REAL money! There are no specifics about how much you can or will earn. The top earner so far has racked up about $3,000, but he has written hundreds of stock analyses. Don’t expect to get rich off of this site, but it’s still a fun concept that you can earn real money with absolutely no risk. It seems that it takes the concept from sites such as Epinions.com where users write reviews and earn money if they get great ratings for the review.
The Look and User-ability of the stock application
The site has a very professional, clean look. There was obviously a lot of time and money put into the design of the site and the functionaly of the stock application. It’s very easy to use and it’s not hard to buy and sell stocks with a few mouse clicks. I never remember stock symbols, so it’s nice to have the search fuction based on the name of the company or stock symbol.
The performance of my portfolio so far
Here are the stocks that I have bought so far: Apple, Immucor, China Mobile, First Solar, Google, JP Morgan, Microsoft, Oracle, Visa, XM radio, and Exxon Mobil. I still have about $700,000 left to spend on buying stocks, but this is what I’ve done so far. I’ve gained about $2,500 in the past 4 days. I’m trying to get a good blend of small and large companies, emerging industries, and international companies. I will keep you updated monthly on new picks that I made, and how I did compared to the S&P 500. I know that those John Bogle followers out there are saying to yourself, “you can’t beat the S&P 500!” I tend to agree with this, but I think Bogle was talking more in the long-term, not the short-term. If you’re doing short-term investing, I think there is definitely a possibility that you can beat it.
I’m not getting paid anything to write this post. I just thought many of you would be interested to visit this site and try it out. It’s definitely the best application that I’ve used to help teach yourself about the market and share opinions with other amateur investors. There’s no risk and you can actually earn some extra cash, so why not sign up?