Platform lets investors clone experts’ stock ideas
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Last fall we covered Covestor Investment Management, a company that lets investors follow the trades of experts with their own managed funds. Approaching the topic with a like-minded spirit, San Francisco-based AlphaClone lets investors intelligently apply the publicly disclosed stock ideas of top hedge fund and institutional money managers. Also known as piggyback investing, cloning lets investors create a portfolio of stocks—known as a “clone”—based on the stock ideas of one or more fund managers at the time those ideas become public. The strategy has been found to outperform the overall market by a significant amount over time, AlphaClone says,…
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