FOR MOST STOCK INVESTORS, the roller coaster ride of the bourses over the last one year has been a cause for gritted teeth and fluttering hearts. But then, there were a few who did manage to find solace at a place where they could see others were riding out of the storm – in online networking communities and social investing sites. Sharing market information online has grown very fast in India over the last one year. The phenomenon is now becoming more popular than online discussion forums, blogs and online feeds. For this new tribe of investors, who have wished to stay in touch with compatible mindsets (analysts, fund managers and investors), the reasons are critically survivalistic. “Just the fact that I was seeing individuals buying shares on the dip gave me confidence. It’s always good to get some assurance that other people are doing the same thing,” says Ankit Gupta, a day trader who joined several such online communities and forums last year. Nitin Phutela, Analyst with Religare, believes that today’s consumers aren’t content to sit back with news or financial advice sent to them. They are looking for more ways through which they can increase returns from the stock market. That’s the reason that over the last one year, websites such as stockezy.com, tips4trade.com, equitygroups.com, FourStocks.com, et al, have come up in India, seeking to bring together investors, traders on a common platform. Looking at the huge positive response that these social investing communities have received from the investor fraternity, online brokerage firms like SMC Global, Reliance Money, Religare, et al, are also now planning to incorporate social networking features such as message boards, blogs or live chat rooms to their websites. The bigger advantage for them is that the more eyeballs their websites gain, the more the probability of their financial products getting sold.
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Source : IIPM Editorial, 2010.
An Initiative of IIPM, Malay Chaudhuri and Arindam chaudhuri (Renowned Management Guru and Economist).
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