One Startup Challenges You to Compete Against Others to Win Cash
SAN FRANCISCO, Feb. 28, 2013 /PRNewswire/ — Individuals are typically terrible investors. Even at the professional level, only one in five managers beats the markets over the long run1. Yet everyday amateurs open trading accounts, chasing the thrill and rewards of a good trade, even with the likelihood they will underperform the markets. According to Charles D. Ellis in The Winners Game, "Most investors are not beating the market; the market is beating them." A social gaming start up, Invoost, allows people to profit from the stock market by trading against other people, not the market. This means players profit from the market regardless of if it goes up or down.
Invoost players compete against one another in stock trading tournaments that can last from one hour to two weeks. Players pay an entry fee to enter the tournament and receive $10,000 virtual dollars to trade with real stock market data. At the end of the tournament the player with the best portfolio return will win a cash prize ranging from $10 to $10,000.
Invoost player Joel Jackobson describes his experience as, "Playing Invoost has given me a new perspective on the stock market. I can win money by being the best in a tournament, not whether the market goes up or down. Those are odds I like!"
So next time one of your friends (or your broker) is bragging about their stock picks, challenge them in a trading competition and see if they live up to their hype.
About Invoost Games
Invoost provides a social stock trading game that allows users to compete against one another in hourly, daily and weekly stock market tournaments for the opportunity to win cash prizes and rewards. Players are able to interact with one another, through the cutting-edge social gaming functions. Invoost provides real-time market data on four of the world's largest markets: Eurostoxx 50, FTSE 100, Ibex and NASDAQ 100. Every open market hour more than 30 tournaments are being played at Invoost. For more information, visit www.invoost.com.