If you’ve ever followed a bad piece of investment advice, you are in good company. Twelve years ago, software engineer, Uri Gruenbaum, read an article in a financial publication recommending investing in an automotive company. Believing this was good advice, he invested his annual bonus in shares in that company. Six months later, he’d lost 60% of his investment.
This loss bothered him. He thought he’d made an informed decision by following this expert’s advice and decided to investigate what had gone wrong. Uri created a spreadsheet and tracked all the previous recommendations of this analyst. He discovered that the analyst got it wrong most of the time, and he also realized that there was no mechanism that investors could turn to for financial accountability. He wanted to provide a solution. And so he founded TipRanks.
Your virtual team of experts
TipRanks launched in 2012 with the mission of bringing transparency and accountability to Wall Street. In the US, the service quickly became the standard for measuring analysts’ success. It also challenged the status quo where analysts were judged according to the prestige of the bank they worked for. TipRanks is expanding globally. It now has a dedicated UK website and app, giving UK investors access to all the tools they need to make confident and data-driven investment decisions. You can now find UK market experts on TipRanks and follow them to receive an alert any time they make a rating.
Analysts are a good example of financial experts that you can follow on TipRanks. Take Charlie Sharp from Canaccord Genuity. He is a 5-star analyst who covers the UK markets. Overall, 57% of his share ratings have proved accurate after 12 months, so if he said to buy a share, 12 months later the share price had increased. In addition, he has an average return of 32% on his recommendations. One of the companies he covers is Gulf Keystone Petroleum for which he has got it right 16 out of 23 times, with an average return of over 50% per rating. It’s experts like Charlie Sharp that you can add to your very own virtual team with TipRanks.
Easily analyze market sentiment
If you like a second opinion, or to be more thorough in your research, TipRanks market sentiment gives you a data-driven overview of each share. TipRanks scans and analyzes the most important sources on the internet, and presents data about analyst consensus, blogger opinion, director activity and more so that you can make informed and confident decisions. You can even see how a share is ranked according to an unbiased score that measures the potential to outperform, based on eight key market factors, called the Smart Score.
In the example below, Shell has a maximum Smart Score of 10. You can click on each component of the score to find out more.
This level of analysis continues once you have added a share to your portfolio. You will receive expert insights into each of your holdings and portfolio analysis.
We’ve given you a quick peek into why 4 million people around the world use TipRanks every month. We invite you to our UK-focused platform and tell us what you think.