To 2014… and beyond!

Happy New Year everyone!

We’ve got a ton of highlights but here are the top 3 to keep it short and sweet:

  1. Our users now track over $135 billion in assets.
  2. CNNMoney and Yahoo Finance are powered by SigFig. AOL DailyFinance also joined the gang, coming soon to a browser near you!
  3. We went one step further in helping people with their investments. We’ll manage your portfolio for you for $10 a month. (This just in: listen to NPR Morning Edition‘s Steve Henn talk to Mike about it. Don’t just read, listen, and stay for the last 10 seconds : )

Our goal is to help you invest better — to help you overcome neglect, reduce fees, and take smart risks — and we’re just getting started.

So here’s to you and to an incredible 2014.

The SigFig Team
Announcements, news, and updates from SigFig.

Congratulations Professor Kahneman!

The President awarded the Presidential Medal of Freedom to 16 recipients on Wednesday. We congratulate them all.

While the media focused on household names (Clinton, Oprah, Ernie Banks…), we would like to highlight Daniel Kahneman.

Professor Kahneman’s work (much of it with the late Amos Tversky) sheds light on the many, many cognitive biases that affect how we make decisions. As everyday investors trying to make good choices with our money, we can only hope to be as self-aware. (The professor would be the first to note that self-awareness is not enough.)

Aside: His most recent bookThinking, Fast and Slow — is a favourite at the office, and we highly recommend it.
The SigFig Team
Announcements, news, and updates from SigFig.

What We’ve Been Reading

What’s been on your reading list? Here’s what’s been on the SigFig HQ coffee table.

The 2013 Nobel Memorial Prize for Economics.

Congrats Eugene Fama, Robert Shiller, and Lars Peter Hansen! Past prizes may have focused on esoteric economics tools, but this is one Nobel everyday investors can celebrate.

Why? Tim Hartford sums it up:

“At last, they’ve given out a Nobel memorial prize in economics for something that could make money for you and me.” In a nutshell, it’s really hard for people to pick stocks and beat the market consistently. Be skeptical of those who tell you they can — especially “expert” money managers. (For more: The Economist.)

SgFgTrivia: our resident finance professor once owned a fish he lovingly named “Gene”.

Warren Buffett gives personal finance advice.

Like lots of people, we’re big fans of the Sage of Omaha (Berkshire Hathaway just reported a surge in profit). So when Warren Buffett gives USA Today stock tips, we listen! The whole piece is worth a read.

To summarize, Mr Buffett has 3 Don’ts:

1. Don’t try to time the market
2. Don’t try to mimic high-frequency traders
3. Don’t pay too much in fees and expenses

… and 1 Big Do: “Buy an index fund, preferably over time, so you end up owning good businesses at a reasonable average price”.

In our mission to help people invest better, we combed through mountains of data. Analyzing 3 years of anonymized investor trading data, we have found that among our users, 2 out of 3 can cut their trading fees by 50% or more, and 2 out of 3 can cut their fund fees by 80% or more. Many have already done so just by switching to an index fund.

In short, we wholeheartedly agree with Mr Buffett. These mistakes cost everyday investors far too much.

Twitter’s IPO.

The big blue bird takes flight November 7th! The internet is abuzz and pundits are atweet. Are you taking part on Twitter’s IPO day? If so, a few observations based on last year’s highly-prized Facebook and LinkedIn IPOs. Analyzing anonymized transactions from SigFig users, we found:

  • Traders who tried to flip (buy and sell on IPO day) had modest gains. FB flippers realized a +0.7% average gain. LNKD flippers realized a +1.1% average gain.
  • Few IPO day buyers manage to buy at opening prices. Many bought at higher prices. FB IPO buyers bought at $39.72 on average ($38 offering price, closed at $32). LNKD IPO buyers bought at $96.97 on average ($45 offering price, closed at $94).
  • Academic studies have found that buying on IPOs makes poor investments.
  • And lastly, make sure you trade the correct ticker!

The SigFig Team
Announcements, news, and updates from SigFig.
Investing in SigFig’s future

Investing in SigFig’s future

It’s been a little quiet on the blog but we’ve been hard at work behind the scenes. Even though we’re just halfway through, 2013 has been an exciting year at SigFig:

  • SigFig now helps people manage over $75 billion in assets, up from $50 billion just a few months ago.

  • We’re now powering CNN Money’s portfolio tracker — adding to partnerships we’ve launched with USA Today and Forbes — and we’re hard at work bringing SigFig to even more users.

  • Fast Company named us as one of the World’s Top 10 Most Innovative Companies in Finance.

  • TIME Magazine named us one of the top 50 Websites of 2013.

(more…)

The SigFig Team
Announcements, news, and updates from SigFig.
SigFig Portfolio for Windows Phone & Tablet

SigFig Portfolio for Windows Phone & Tablet

Attention all Windows users — you can manage all your investments across your Windows devices now too! Check real-time market prices, data, and news on your way to work or on the go.

Enjoy the same great SigFig.com features on your Windows Phone or Windows 8 Tablet/PC:

  • Real-time Portfolio Tracker: See all your investment accounts in one place – including your 401k and IRA – in one place, in real time.
  • Charts and Analytics:  Use beautiful charts to check your performance, allocation, risk, and more.
  • Investment advice engine:Identify underperforming investments, costly fees, and subpar brokers and advisors and set handy calendar reminders to follow up once back at a computer.

As always, security was a top concern for the team when building the apps. Both the Android and iPhone apps are read-only, meaning no one can trade, withdraw funds, or transfer money. All data is encrypted with the same level of security used by banks and brokerages.

It only takes a minute to sync your SigFig account with all your devices. Don’t forget to take your portfolio with you!

Visit www.sigfig.com/mobile for more

 
The SigFig Team
Announcements, news, and updates from SigFig.