20 March 2009
WeSeed – The stock market for the rest of us
A couple of weeks ago, I heard about a site named WeSeed. Basically this is a site that allows you to play the stock market game with fake money. As they say “Low Risk, Low Return” which is why you will get a return of nothing if you play with their fake money. Actually you will either realize that you should have been using real money or you will be happy that you didn’t use real money, but nonetheless, it is a learning opportunity. Here is an excerpt from their About page:
“Basically, you do three simple things on WeSeed: 1. Get stock ideas based on what you know, 2. Learn from others, 3. Practice investing with risk-free, stress-free, virtual WeSeed cash.”
I signed up and bought a few of the companies that I like or feel that I know something about. Since then, I’ve made a 20% return in only two weeks. Unfortunately I don’t think this is because I am smart or know what I’m doing, but just had good timing. It is also unfortunate that it’s not real money, otherwise I might have something to actually brag about.
Overall, I think the site is a pretty cool concept and I like the way it works. It was very easy to get set up and to start purchasing/selling stocks and see the results of those transactions on your bottom line. If I had an investing strategy that I just wanted to test out for a while, I might consider spending some more time on this site, but for now it’s probably not worth my time. No matter how good your strategy is, it may not work tomorrow. I guess I would say that this site might be a good teaching tool for teens or others interested in investing who have no idea how it works.
Give it a try if you feel like it and let me know what you think.
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