

Show HN: Upfund - mjfl
http://upfund.herokuapp.com

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mjfl
Hi all, this is a project my friend and I have been building as our senior
years come to a close. We're both pretty new to web development, but we both
have experience in the field of finance, and we're learning every day.
Basically our plan is to have a community driven investment strategy where
people can research and vote on stocks they like, and then we invest in
whatever is voted for. We're planning to have an alpha out pretty soon to test
the model with fake money, so if you're interested sign up on the site!

A little me: I've been interning at quant hedge funds since the summer after
my freshman year, working close to the model building process. While I have
the utmost respect for the people building and testing the model, I was
ultimately not impressed with the results. It's just fundamentally hard to
predict a system that changes its behavior every day. For a lot of quant funds
the key to succeeding is marketing to people that you have "the secret" inside
your black box, but, as many people suspect, no one has that firm a grasp on
the "truth". Instead we'd like to make the process honest and inclusive, and
since the community builds the model, we'd like to let the community keep more
of the profits. A normal hedge fund or mutual fund is going to charge you 2%
of your total money invested per year and 20% of the returns you get, our goal
is to do all this for 1/10th of that.

Suggestions are welcome. Thanks for listening.

