2 Things Nvestly CEO Says All Novice Investors Should Do
Otavio Dalarossa didn’t plan on a career in finance. He has a degrees in math and engineering, but fell in love with markets when witnessing the action in 2008.
Now he's the founder and CEO of Nvestly, a social platform based on investing that lets users connect to their actual brokerage accounts to share trading activity.
Dalarossa recently joined Benzinga’s #PreMarket Prep to talk about two important actions that new investors should take when entering the markets.
Follow Other Traders On Social Media
Dalarossa began by explaining that social media platforms allow novice investors to follow trading veterans and truly see how they work. Nvestly, for example, shows top investors based on their real portfolio returns. The best traders are ranked for the week, month, year and all-time.
Each trader's profile on Nvestly shows their current portfolio, Dalarossa said, and the information is verified because it comes directly from their brokerages.
"It's an opportunity for someone who doesn’t know too much, doesn’t know what investments to look at, to take a look at these top investors and top traders and look at what they’re holding,” he said.
Dalarossa said new investors can use these social media platforms to browse through traders and see what they're holding or simply just join the conversation.
— Nvestly (@Nvestly) October 14, 2014
Seek Out A Support Group
The other thing that Dalarossa emphasizes for people who are new to trading is to find a support group.
“A lot of times for people that are starting off today, investing can be pretty daunting, pretty confusing and kind of a lonely thing,” he said.
Even though there are a lot of social media platforms connecting people, Dalarossa said, it's still difficult to connect with people you can trust.
“Even connecting with friends about investing [can be difficult] because it can be a touchy subject,” he said.
Dalarossa also talked about how his background in engineering influenced his finance career.
Check out his full interview here:
Don’t forget to tune in to Benzinga’s #PreMarket Prep Monday-Friday 8-9:45 a.m. ET all of the premarket info, news and data needed to start the trading day.
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