Last night I was whisked away to updown.com, a social network for virtual investing. If you have ever wanted to play the stock market but didn't want to spend money, then this is the place.
You get to "invest" a one million dollar portfolio in stocks of real companies and the website tracks their progress over the day and tells you at the end if you made or lost money, both on the whole and on individual stocks. It's a great learning tool and good practice for those who want to get involved with risk capital.
If you are unsure about the market and just want to test drive the whole idea, this is the site for you! If you are a seasoned investor and you want to try things out before you actually execute them, then this is the place for you too. Every sale has a possible $100 commission which is also real world.
There are a few restrictions for people's safety. You cannot invest more than 20% of your portfolio in one stock which keep people from gambling on the market with one to two hot stocks. It's really a lot of fun and worth giving a try.
Social Network for Fake Investing
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- By: Cameron CowanJul 9, 2008