I realized the pop culture phenomenon that is the activist investor had taken a new turn when a friend showed me an iPhone app at a party. iBillionaire lets you track the investments of “billionaire investors” whose names you know (Carl Icahn, David Loeb, David Tepper and David Einhorn among them) and compare them to your own feeble portfolio.
Now, the people behind the app have produced a 30-stock equity index, compiled by the New York Stock Exchange, which went live today. It purports to offer a snapshot of where the most successful investors are putting their money. The company hopes to follow up with an iBillionaire exchange-traded fund, which would allow regular investors to buy shares in a portfolio that tracks the index, effectively putting their money where the billionaires mouths’ are in an attempt to ape their earnings.
“I’m completely against the efficient markets hypothesis,” Raul Moreno…
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