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Article: Investing via social networks ; Investors are increasingly using tips and ideas from social networking sites and specialised online groups for making investment decisions.
- Article from:
- Business Today
- Article date:
- October 18, 2009
- Author:
CopyrightCopyright 2009 Business Today. Provided by ProQuest LLC. (Hide copyright information)
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Shrujit Debnath, a 46-year-old government employee, stuck to his
investment in Satyam Computer Services when its promoter B.
Ramalinga Raju popped the truth about falsifying company accounts.
The stock had crashed to a low of Rs 11, and market pundits had
stopped tracking the stock. At stockezy.com, a social networking
website for investors, Debnath met investors who shared his
optimism. He held on to the stock, which has now multiplied over 10
times from its lows.
Management student Jimeet Modi, 20, got a similar reassurance
last October from the members of an online (Google) group,
StockTalkS, comprising mostly analysts and experienced investors who
were bullish on markets. Modi, who has ...