Written By: Harvi
Harvi is the creator of www.hashtaginvesting.com. A chat based community of stock investors looking to learn, share, and improve their trading skill sets. He enjoys community building and looks for opportunities to provide genuine value to others.
Recently one of our #Investing chat community members had a great idea to add to our community. A new separate channel called #Pickofthemonth where members can join in to pitch and discuss up to 10 stocks each month. The ultimate goal of the community in this channel would be in agreeing to trade one of them at the end of each month.
With our other channels including #stocks (more of a free for all knowledge sharing topic of all stocks in general), #canadian (exclusively on Canadian stocks), #riskybets (daily aggregation of the most volatile stocks), and #general (discussion of broader topics like market trends, macro factors, news, and other investing methods). #Pickofthemonth differs as it allows for more constructive debate where everyone brings in their circle of competence and personal knowledge to further the groups competence leading to smarter and wiser decisions.
This is our first month and here are the 10 s,tocks we are going to be discussing. We added a simple app to to able to organize the list of stocks we are to discuss in the current month. Here is a screen cap of the list of 10:
How we are organizing the discussion is to give every stock 2 days of full discussion. Since the community is chat based and mobile friendly, people can easily chyme in throughout their days from any place. Whether you are on transit, waiting in line or for a person, or laying in bed in your pajamas, members conveniently can message the group from their mobile devices.
At the end of the first 20 days (2 days each of discussing 10 stocks) we will have an open floor of debate and polling. To decide as a group to make a shortlist and eventually narrow down on one stock at which point we will all individually trade.
Here is how it is going so far, our first stock to discuss was Valeant.
As you can see, discussion on the first stock was, in my opinion, very successful. We had differing viewpoints, perspective, different information being shared. Some people had a better picture of the general trend, whereas others were able to bring a more data approach to conversation. This at the very least allows us to understand and learn new methods of analyzing stocks. There is no limit on how much we can type, and even share. The images, tables, and even documents being uploaded add so much to our conversations.
Next up is JUNO, and literally 5 minutes ago I told the group it was time to discuss it, here is how it is starting already...
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