The next generation of investment managers

Brooker Belcourt, CEO and founder of Covey, an analyst-owned community built to find the best performing managers for any investor to copy.  Covey’s analyst-owned community hosts hundreds of analysts – ranging from hobbyists to traditional finance industry veterans, and everyone in between – and is designed to find and reward the world’s next top money managers. Top performers receive token rewards, and earn the option to become a Money Manager in Covey’s copy trading fund.  Brooker has joined The Yield today for a conversation about the competitive and information edge to stock trading.

Key Takeaways:

[3:04] Friction points and data sets to finding the best people to manage your investments. 

[6:16] Finding the balance between short term risk and long term reward. 

[17:12] A Covey app will provide access to the top 10% of analysts to retail investors. 

[21:22] A look at what Covey will be offering next.

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Despite working as an investment banker himself, Brooker found that even investment professionals don’t manage their money as well as they could.  He started Covey to locate the best investment managers and provide a way for anyone to allocate their money to those managers and get better upsides.  Not unlike professional sports, where millions of dollars and data are spent to pinpoint amazing athletes, Covey uses the same data and principles to define the best performing investment managers. 

But what data points determine what makes the best investment managers? At Covey, anyone can join and add their stock, ETFs, or crypto picks.  They are then participating in a monthly competition and Covey rewards people every month based on their performance. Brooker walks listeners through the details of the alpha algorithm that they use to reward investors on both a short and long term basis. By rewarding people consistently every single month, over the long term, the people who went on the monthly basis will be the people who are the winners on the long term basis.  Covey is designed for people who love investing, and has a place for anyone who either wants to level up their investing or who is already an amazing investor and wants to credentialize themselves by building a track record on Covey. 

There are two grand components of Covey’s offerings.  First, it has the ability to create for anyone an audited track record and potentially even serve as a catalyst to pursue a career in asset management or the hedge fund space for a fraction of the cost that such a career would normally cost. And second, there is a space that retail investors can go on and see who the top traders are and potentially mimic their traits.  With unique technologies, they are able to both offer an immutable tracker that records investment decisions as well as pay rewards to anyone anywhere in the world through the blockchain.

Brooker highlights data surrounding performance persistence, mean reversion, and offers a portrait of the top 10% performers on the platform. With no real money required to make trades, this is a safe and exciting space for anyone from students to investors to truck drivers to play their hand at investing. With a high value data for token exchange, the future of investing is looking bright with the help of Covey.  To learn more about your investment options and ways to diversify your portfolio, visit www.yieldstreet.com today.

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