Hey /r/stockmarkets,
The Nvestly team wanted to give you a quick update on the Reddit fund. Original post can be found here.
First and foremost, we wanted to say thanks to everyone who voted on the poll. It was great to see the fund come to life and the chosen stocks look very strong. A few quick updates based on what the community wanted:
- Instead of holding the funds for 3 months, we decided to hold it for an entire year.
- Every 3 months, if the portfolio has shifted significantly, we’ll ask the community if they’d like to re-balance the portfolio. If so, we’ll do a quick poll.
- We’re very open to what to do with the profits. We saw a lot of new great suggestions that weren't included in the original poll. Even though people voted on using the profits to hand out Chipotle burritos to the homeless, we’ll be sure to ask the community again once we cross that bridge.
Now on to the fun part. Here are the winning stocks!
- Financial – Berkshire Hathaway, BRK.B (31% of votes)
- Consumer Discretionary – Walt Disney, DIS (26%)
- Healthcare – Johnson & Johnson, JNJ (34%)
- Materials/Industrial – General Electric, GE (34%)
- Energy – Exxon Mobil, XOM (29%)
- Utilities – None (44%)
- Technology – Apple, AAPL (46%)
- Wildcard – Tesla, TSLA (28%)
As of 12/17/2014, we bought 4 stocks.
- 7 Shares of BRK.B @ $145.40
- 13 Shares of AAPL @ 106.84
- 58 Shares of GE @ $24.50
- 7 Shares of TSLA @ 196.45
We’re closely monitoring the market the entire week and will buy the rest of the stocks by Friday. We're also working with a professional trader for input on the best execution. For more details, you can visit our blog: http://ift.tt/1vZKy38
Submitted December 17, 2014 at 01:01PM by misteryu1029 http://ift.tt/1vZKvnT
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