Retail investing can be a lonely existence, especially in a bear market.
When the market is red hot, people are generally excited to share their tips and strategies with friends, family and colleagues, but when the market turns south we all tend to get a little more quiet about our investing decisions.
It’s also not for the faint of heart. While there is always room to maneuver, conquering a bear market requires a certain degree of patience, conviction and nerves of steel — not to mention a heck of a lot of research.
When times get tough some go all-in on a longshot and make things worse, or cash out entirely, effectively cementing temporary losses as permanent. What makes a bear market particularly challenging is that when the casual investors pack up and go there’s less enthusiasm, wisdom, and shared triumph to go around.
What the rest will need to conquer this market is a community of the bold, a fellowship of the patient, a team of the unflappable — and a bit of friendly competition with a cash prize to sweeten the pot.
It is in that spirit that the Pounding the Table Podcast is challenging its listeners to take part in an investing competition, hosted on the all-in-one trading app Zingeroo. Hosts Avi Mash, Anthony Ohayon, and Joey Solitro will compete alongside listeners for a $1,000 cash prize, which will be awarded to the investor who earns the highest returns measured by percentage over the week-long competition period. That means competitors need to put their money where their mouth is in order to participate, but can invest at whatever level they feel comfortable with, knowing that others can’t buy their way into the leaderboard.
“Zingeroo encompasses everything I’ve dreamed about in an investing app,” stated Pounding the Table co-host Avi Mash. “A chance for retail investors to actively compete against each other with the friendly banter that online investing communities crave, while still having the trust of being with a regulated broker dealer.”
In order to get in on the action listeners must first sign up with Zingeroo before December 5th — one week prior to the competition’s start date — in order to have their account activated in time to participate in the event, which begins December 12th. Once your account is up and running simply head to the “Pounding the Table” Zone and start making your selections.
The best part is as they’re building out their portfolio, participants can see how their fellow competitors — and even the podcast hosts — pursue strategies of their own. It’s all in the spirit of the Zingeroo platform, which makes investing social, transparent and educational by lifting the veil and letting users see how their friends, family and colleagues invest their money.
This gives users the ability to learn what the best investors tend to do right — and what the worst tend to do wrong — when managing their portfolios. Users can even trade with their friends, compete for prizes and see how their portfolios stack up against their peers on real time leaderboards.
Such features have proven to lead to better decision making over the long run, as Zingeroo’s users held 63% fewer meme stocks than average retail traders during the height of last year’s craze (which ultimately crushed many casual investors’ portfolios, and hopes of an easy payday). The trend solidified the hypothesis that Zingeroo was built on, namely that transparency, competition — and maybe a certain degree of peer pressure — inspires more sound investing. Perhaps that’s why the platform continues to amass users while other trading platforms are seeing their numbers nosedive.
Zingeroo’s unique approach to retail trading also makes it the perfect arena for a friendly investing competition.
In a few weeks users can put their skills to the test against fellow retail investors and see how they stack up against each other, as well as the hosts of the Pounding the Table Podcast. Will the experts prove their worth? Or will a listener come out on top? Sign up now and check the leaderboard anytime during the competition period to track their progress. And if you’re up for it, consider getting in on the action yourself.