Have a question and want to gauge interest...

Ladies and gentlemen,

Good morning. I hope everyone is well. I have an idea I'm trying to put together but I want to make sure there is interest amongst the community. I am in the process of putting together a very similar platform to reddit that's investment related. In the platform, people will submit ideas, others will display their own, opinions, research, etc. 3 days after the post, voting will begin on the stock. The top 50 names (with some discretion as I will ultimately manage the fund) will go into a portfolio which I am looking to create a public traded ETF for. There will also be a portfolio section on the page, where you can vote real time on what you think the weighting of the portfolio should be. If the weighting reaches a certain threshhold (<.25%), I will sell the name from the portfolio. There will also be the equivalent of reddit gold, chitcoin (named after the investment world slang "chit" for when a portfolio manager/ analyst pays the sell-side for value add), which you can award to users you feel make valuable comments, contributions. Everyone will start with 5-10 chitcoins and then each additional one will cost $1 (with a percentage going to cover my overhead seeing as I will be most likely dropping several hundred thousand to create the ETF and such, probably 40-50% and the other half going to charity).

I am calling the idea Open Source Investing. 75% of mutual fund managers can't beat the market... why? I suspect that maybe they close themselves to outside opinions and only communicate with those in the investment world. I think as a collective, we can educate each other, become better investors, and put together a portfolio that can compete with other investment firms. If successful, the effects could be revolutionary to the investment business.

Please let me know if you have any thoughts and would be interested in participating in this. I think we'd need to have at least 200-300 active users to start and I think the number could reach the thousands after launch (we would create the portfolio for a couple of months before launching). I'd love some feedback and I hope you guys are excited about the project as much as I am. Have a great day!

Submitted May 12, 2014 at 11:21AM by JROD725 http://ift.tt/1ldkexF