Whether you are a first-time investor or are looking for ways to add to your existing knowledge base, there is always room to learn more about the markets and how different asset classes work. Now that most people have powerful personal computers in their pockets with them everywhere they go, there are more opportunities to learn than there is time in a day. Below are 4 days tech can improve your investing IQ.
Robo managers are a kind of financial advisor which operate exclusively online and provide both financial advice and management with minimal human intervention. Robo advisors operate using algorithms and mathematical rules and come up with predictions, picks and advice.
The word "minimal" is important, because oftentimes the individuals or companies offering robo services also provide in-depth analysis by renowned experts and advisors who add insight and context to the pics. Subscribing to these services and their newsletters can give you a glimpse into the thought processes of people who have been studying and achieving success in the market for decades.
Mock Brokerage Accounts and Simulators
Usually, when you open a brokerage account with a bank to buy and sell securities, you also get access to the bank's mock or simulation brokerage platform that allows you to "play" with fake money by following and investing in the market in real-time. The market activity is 100 percent real, but your gains and losses are not.
There are now myriad such platforms out there that allow you to do the same, many with in-depth explanations and walkthroughs that help you learn as you go. These programs let you get to know the ins and outs of buying and selling without having to put any actual money up while also providing a good introduction to the technological side of investing.
Content aggregators, or news aggregators, are applications made for a variety of web browsers and mobile devices. Many are free, with options for paid premium services, and they work by collecting and curating personalized news feeds based on the publications and news sites you select. Feedly is one of the more popular apps on the web.
These aggregators are great ways to learn about any discipline or niche because they let you create news categories and fill them with relevant blogs, Twitter feeds, newsletters, daily reports and articles from leading sources of information. The best way for any newcomer to inform themselves is to read the experts and browse the forums where cutting-edge conversations and discussions take place.
Virtual Stock Market Games
Virtual stock market games are similar to the investment simulators mentioned above, but tend to offer more dynamic learning and are gamified to make learning more engaging. Games like "Wall Street Survivor" and Market Watch's "Fantasy Earnings Trader Game" add competition and interactivity to the mix.
You also get to play with people who have varying levels of investing knowledge. In real life, going up against the pros as a neophyte is a sure way to lose big, but by watching how more experienced investors operate from the safety of the simulation, you can pick up on tips and tricks that will serve you well in the real world.
The internet has made self-learning accessible to anyone with the necessary hardware and a desire to gain knowledge. You don't need an expensive education to know how to invest your money in the markets, and you don't need to take losses to learn from your mistakes. All of the above tech-augmented learning opportunities can help you improve your investing IQ on your own time, at your own pace, and are backed by real market fundamentals and wisdom.