Covestor plans internet revolution
Financial Times, September 17, 2009
The idea began with Richard Tahta’s cousin, a talented amateur stock market investor. He would occasionally pass on useful trading tips, but Mr Tahta was frustrated that he seldom had time to act on them.
Believing that there were other frustrated investors like him, Mr Tahta’s solution was to join forces with fellow serial entrepreneurs Perry Blacher and Simon Veingard this summer to create Covestor Investment Management, an investment site that allows users to follow and replicate the stock market moves of traders with strong track records. It builds on Covestor.com, a social networking site for traders which they created two years ago, where investors come to show off their track record, ask for advice and share thoughts, a sort of Facebook for traders.
