This allows them to realize more favorable entry and exit points. 

The Motif Explorer app allows users to monitor motif performance, find new ideas and review performance charts.

Inability to Adequately Diversify Holdings 

So, before you jump on the copycat bandwagon, get to know these five common pitfalls for this approach to investing. Inability to Adequately Diversify Holdings. It is not uncommon for a major institutional investor, such as a mutual fund, to own more than stocks in a given portfolio.

Some examples include clean tech or companies tied to the housing rebound, which are all current trends. The Motif Explorer app allows users to monitor motif performance, find new ideas and review performance charts. And if you aren't a Motif customer, you can still use the app to create lists of favorites and get more details about any investing ideas you're interested in. This system might not be best for large investments or retirement portfolios, but Motif makes small-time investing fun and relevant -- it's a great way to introduce new investors to the market.

Finance Taking a cue from its mega-popular iOS weather app, the Yahoo! Finance app is designed for a beautiful, personalized user experience.

In fact, the design is so sleek that fans of this app compare it to iOS 7's native Stocks app. Finance app allows users to sync portfolios and quotes across multiple devices, tracking stocks, currencies, commodities and more.

The interface is ideal for conducting a quick stock check and the push notifications allow you to stay current on breaking news so you can make informed decisions on the companies you invest in. What makes this app particularly unique is the Snapstock feature, which allows users to snap a picture or barcode on any item to find the company name, ticker symbol and stock quote, along with company-related news and charts. Fidelity Investments Once you have started feeling comfortable with investing, the Fidelity app is a good next step up from beginner programs.

The app allows you to trade and track your accounts anywhere from a mobile device and recent new features include customizable home screens, additional money management tools, advanced charting, daily market videos and option trading. Users can transfer funds using an external bank account or by uploading an image of a check. Bill pay is available for certain accounts and there is a menu featuring news covering U.

Account holders can create watch lists, as well as price trigger and trade notification alerts. If you don't have the time for that, start here: The CNBC app delivers breaking news, real-time stock market quotes, stock charts with customizable timeframes, and access to full-length CNBC programs. The interface is user-friendly and pleasing to the eye.

Benzinga Benzinga offers an app that gives investors instant access to auto-updating stock quotes from any mobile device. This is a good option for investors who want immediate information, up-to-date quotes and breaking news. Social media fans will enjoy these additional features: Users can also opt in for breaking news push notifications, create watchlists and explore predictive quote search.

When first-time investors get more experienced, they can upgrade to BenzingaPro, which offers three more subscription levels to choose from. Subscribers can select from services ranging from the basic streaming news and data service to a premium subscription that includes an audio news squawk and instant analyst Q-and-A. Smallcap stock Rain Industries, where ace stock pickers Dolly Khanna and Mohnish Pabrai hold over 1 per cent stake each, rewarded copycat investors handsomely by surging over per cent in last one year.

Dolly Khanna bought Mohnish Pabrai bought his stake in the company much earlier and has already earned multibagger returns. And he still holds it. At last count, The Pabrai Investment Fund held over 2. Two years back in June, , Pabrai had 10 million shares when the stock was trading at Rs Pabrai, an Indian-American value investor, businessman and philanthropist, has a knack for spotting quality stocks early. His funds have delivered over 25 per cent annualised returns to investors since their inception in Pabrai is a big follower of Charlie Munger and Warren Buffett.

Also known as tail-coating, this is common in developed markets. The past one year has remained highly favourable for Rain Industries, as the scrip surged over per cent to Rs till July 10, even as BSE benchmark Sensex advanced 15 per cent in the same period. This means an investment of Rs 1 lakh in this stock a year ago would have become over Rs 3. Both fundamental and technical analysts are still bullish on the stock.

 

With Investor Phil Town 

Copycat investing, as the name implies, refers to the strategy of replicating the investment ideas of famous investors or investment managers. The strategy is also known as coattail investing, since the investor rides on the coattails of those who presumably have much more investment prowess.

Sidecar investing is basically copycat investing, in which investors tend to ape stock portfolios of expert/star investors. Also known as tail-coating, this is common in developed markets. The past one year has remained highly favourable for Rain Industries, as the scrip surged over per cent to Rs till July 10, even as BSE benchmark Sensex . Love your friends and relatives, too. But that is no reason to follow their advice blindly when you make an investment decision. Nor is it a reason to clone their financial plans or investment decisions. Here's a story to illustrate how copycat investing can go wrong. Naresh decided to invest in a top-performing mid-cap fund last year. 

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Buffett Bootleg Versus Miller Mime

Phil Town discusses using coattail investing and how using this form of copycat investing & can help you invest like Buffett & find the best stocks to buy. Copycat investing is tracking the investments of the big players and replicating their buy/sells. Theoretically, copycat investing sounds good, however Copycat investing is tracking the investments of the big players and replicating their buy/sells.

So, before you jump on the copycat bandwagon, get to know these five common pitfalls for this approach to investing. Inability to Adequately Diversify Holdings. It is not uncommon for a major institutional investor, such as a mutual fund, to own more than stocks in a given portfolio. Here are 5 investing apps that let you invest for free so you can build your portfolio. M1 has become our favorite investing app and platform over the last year.

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