App-a-Day: iBillionaire

By Andy Feng on Thursday, June 4th, 2015

 

Hello everyone and welcome back to App-a-Day! Yesterday we talked about free stock trading app Robinhood. Today we’re going to continue on that topic and introduce another interesting financial app.

 

 

With Robinhood, you can instantly buy and sell stocks conveniently from your mobile device. The process of trading is now streamlined and simplified to the point where you can do it almost anytime, anywhere, with only a few simple taps from your phone. That’s great! But buying and selling stocks has always been the easy part… The real challenge is picking the right stocks and trading them at the right time. Robinhood simply gets you into the game, now it’s time to play it.

 

 

When it comes to picking stocks there is no ultimate formula and more often than not the element of sheer luck is what separates success from failure. The stock market is for the most part unpredictable and any investment, big or small, comes with it’s corresponding risk. Sometimes more, sometimes less. However… It always helps if you do your homework and do your research before you commit. This is where today’s app comes into the picture.

 

 

Today’s app is called iBillionare and essentially it’s an app that shows you what kind of stocks known billionaires are investing in and how well their portfolios are performing. Remember before when I said it helps to do your homework? Oh, I wasn’t talking about actually researching the companies.. (although you might want to do that too..). Another approach is to let the professionals, geniuses, and insiders do the heavy lifting and to keep an eye on the moves they make. After all, these people are billionaires for a reason right?

 

 

iBillionare is a cool app that gives you a window into what all the big boys are up to. In all seriousness though, it’s definitely a bad idea to only follow blindly what others do and not think for yourself before making any kind of investment. However, taking into consideration the investment strategies of some of the world’s most wealthy individuals might not be such a bad idea before pulling the trigger on your next major stock purchase. It’s just another resource to help you along the way.

 

 

The iBillionare app itself is pretty straight-forward. You can follow your favorite billionaire and choose to receive alerts when they make major moves. Want to see how well Warren Buffet’s portfolio is doing? Simply tap into his billionaire profile to view all his positions and see what stocks are providing the biggest return. With iBillionaire, users can also view performance rankings of the biggest winners and losers of the day or throughout the whole year. It’s like a billionaire stock portfolio battle royale! Ok, not really… But regardless, it’s interesting stuff if you’re either looking into or are currently investing in stocks.

 

 

In summary, iBillionare is worth checking out if you’re interested in seeing what the world’s wealthiest professional investors are up to. You shouldn’t take the app too seriously but with the proper research and preparations, it just might help you find that next dark-horse stock that’ll make all your hard work pay off. Investing in the stock market is and always will be a highly emotional and risky endeavour. Just remember to invest based on facts and not impulse, it’s always wise to do your homework beforehand and use whatever resource you have available to help you make a better decision. Don't be like Spiderman..