2. We let you see what others are trading, search for the best investors by any criteria, and follow them to see every move they make.
3. We analyze performance and patterns and award badges to identify investment strategies and success, in order for users to be able to decide who to follow.
Would you use it?
If I understand correctly, that is exactly what Kaching (now wealthfront) did in the beginning. I've heard of a couple of other startups doing basically the same, but the only one that ever had any traction AFAIK is kaching.
There's a regulatory minefield out there that would have to be cleared, e.g., if I myself am sharing my portfolio, I would need a really good opinion that I'm not on the hook for going "investment advice" by the SEC.
Also, I subscribe to a couple of investment newsletters - I might be in violation on their TOS if I "publish" their advice automatically, even if I keep their analysis to myself. Completely automatic publishing would be unacceptable for me - it needs to be at least screened by ticker / market, and probably at the individual trade level.
And with investment newsletters, you buy stock based on information that they sell you, but it's your choice right? Would you really be in violation of their terms?
In other words, if you in any way say "I think you should buy this", you raw afoul of the SEC, but just saying "I just bought this, and I think it's a good idea" you probably don't.
Now, would a service like that describe need SEC certification? Would the individual contributors? It can be constructed in a way that wouldn't, but that's far from trivial to either build it that way, or to even be convinced that it is for a contributor.
and re:"the violations of their terms", I meant their copyrights and the TOS you sign on. If I re-publish it (even if it's just by showing the whole world what I did), I might. It's not enforceable, but probably legal, and many such publications assert that you are not allowed to redistribute their advice in any form.
I guess the only other thing I would worry about would be ending up trying to learn from someone who has as little experience as I do.
The data would be entirely made up of trades, no opinions, comments and noise.
Searching would be possible by any criteria such as sector, market cap... To find investors who invest the way you'd like to.
You'll see trades from people you followed: what's being bought or sold, at what price and how that trader has performed in the past.
I would diversify my own portfolio based on my own needs, but if I saw a successful investor picking up new stocks I would be inclined to research it I think.