Wikinvest is a wiki that’s designed to help investors. It’s designed with the simple intention of making it much easier to find investment advice. There are now thousands of people on the internet searching for advice about their investments. Many of these are looking for sure fire trading tips. Wikinvest can be edited by anyone, this means that it could fall pray to spam or erroneous entries. There is also no real incentive for anyone to create any content which could make all the difference in whether or not the site is successful. Of course the exact same problems affect wikipedia, but even so the accuracy of wikipedia is fantastic (in most, but not all cases). Wikinvest is trying to emulate a similar thing with their investment information. Wikinvest hopes to become a valuable investment research portal which can be used for anyone to find out information about certain companies, learn about analysis techniques, or learn about various concepts. Of course this information is already available on Wikia, Google Finance, Yahoo and the company profiles are even available on Wikipedia. The biggest competitors of wikinvest comes from financial sites as many of these offer real time news and advice offered by experts. Wikinvest is able to change content very quickly which could work in its favor if used correctly.
Wikinvest was founded by Parker Conrad and Mike Sha. The company is based in San Francisco, USA. Since it was founded in 2006, Wikinvest has gone on to receive numerous awards, acclaim and media coverage. Wikinvest has received the 2008 SXSW Best in Business Award, was nominated to the 2009 Webby Award for Financial Services and won Best of Show in the 2010 Finovate Awards. It was chosen as one of Time Magazine's 50 Best Websites in 2010.
Unlike other investment sites this is a wiki, this means that any registered user can edit and change the pages on the site. Although normally this is a good thing, it can leave the site open to spam. Wikipedia is perhaps the best known wiki site and they get around this problem simply because of the huge numbers of users on the site. Wikinvest seems to be a very valuable resource, but whether or not you can trust that information without looking it up on another site is your decision.
Wikinvest looks the same as most other wiki sites, it’s not terribly attractive but it has all the information there and is laid out well. To the right of the screen there is “The Shelf” which is a series of very useful tools. It also contains a list of bookmarks that you can add and visit at a later date. In the main section of the screen an article is displayed. It’s very easy to search for an article, or click a companies name for more information. Wikinvest is a great resource to find all sorts of information out about various companies and is very valuable if you are considering investing in any one of them. The articles are also a valuable resource which can be used to decide how you want to invest your money.
As with most other sites, registering for an account is very easy. You will be able to browse most of the websites without one, however if you want to post any of your own content, or vote on other peoples then you will need an account. It’s free to create an account and only takes a minute or so. You need to choose a username, password and then enter your name and email address. You will then be able to edit your profile and change various settings if needed.
Wikinvest is completely free for everyone to use, however they are looking for donations or contributions to make Wikinvest an even more exciting place. There are also adverts on many of the pages but these do not get in the way.
Wikinvest is ideal for anyone looking for financial tips online; it’s quite reliable because of the high numbers of people that use it. However understand that as anyone can write whatever they want you can’t trust everything. The site might also be subjected to spam which could be devastating for the future of the site.