Students interested in getting an early start on building their financial portfolios now have a student-based Web site to help them dominate the market.
The Student Finance Association is one of the student organizations that utilizes the site. Logan Cooper, the organization’s president, said the group of 150 students is a networking and social outlet for anyone interested in finance.
TheUpDown.com is a community of investors that offers market analyses, investment advice and networking opportunities for students interested in finance.
Michael Reich, the company’s CEO, described the site as being like a Facebook.com for investors.
“We’re geared toward students and young professionals who want to learn about investing,” Reich said. “A lot of student investment clubs use the site as well as professors using it for classes.”
The Web site was launched to the public in September and has gained 8,000 active members nationwide.
Cooper said the group conducts a stock simulation competition for its members. Participants receive virtual money, and the victory goes to the person who is able to make the most money. This year, the club is using TheUpDown.com to track the competition.
“We are always looking for new programs since previous programs we used weren’t as comprehensive,” Cooper said. “We liked that The UpDown was created for use by students.”
Usability for students was one of the main goals of site founders Reich, Georg Ludviksson and Phuc Truong. All three are Harvard University students who wanted to create a new way of investing for today’s community-based Internet.
“We’re a little bit about earning money but mostly about learning and meeting other investors,” Reich said.
—-Contact Joanna Brown at [email protected]