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THE FUTURE: SOCIAL, TECHNOLOGY, AND FINANCE 
THE HISTORY OF 
ONLINE INVESTING 
Zack Miller, OurCrowd
BROKERAGE, COMMISSION-TRADING, AND ASYMMETRY OF INFORMATION 
HOW WE USED TO INVEST
ENTER 
SCHWAB. 
• Circa. 1971 
• Fees go down 
• DIY goes up
THE PLAYING FIELD IS 
LEVELLED IN 2000 
REGULATION 
FAIR 
DISCLOSURE 
(REG FD)
HIGH NET WORTH INVESTORS 
TURN TO THE INTERNET
THE DATA SPEAK 
FOR THEMSELVES 
• 41% of HNW investors seek out investment information from 
the Internet 
• Investors are...
NEXT GEN ONLINE ADVISORS STARTING TO BREAK OUT 
WEALTHFRONT SURPASSES $1B IN 
AUM
INVESTORS ARE 
FINDING NEW 
ASSET CLASSES 
• In 2014, Lending Club 
surpassed $4 $5 billion in 
total peer to peer loan 
u...
WHERE’S WALL STREET? 
INVESTORS ARE CROWDSOURCING 
MORE ACCURATE FINANCIAL ESTIMATES
BUT, THERE ARE STILL CHALLENGES 
FOR THE “NEW” FINANCIAL 
INDUSTRY
ACCORDING TO THE YEARLY EDELSTEIN TRUST BAROMETER STUDY… 
FINANCE IS THE LEAST TRUSTED OF 
ALL INDUSTRIES
HOW DO 
INVESTORS 
MAKE BETTER 
INVESTMENT 
DECISIONS?
REPLICATION 
STRATEGIES 
• Copying top investors like 
Warren Buffett actually 
works 
• Martin, Gerald S. and 
Puthenpura...
THE CULT OF THE 
13-F INVESTORS 
• Tools like AlphaClone 
enable investors to 
piggyback on top of the 
world’s best hedge...
MOTIF INVESTING: DIY, SHAREABLE 
“ETFS”
INVESTORS ARE RESPONDING BY 
PARTICIPATING IN DEMOCRATIC 
INVESTMENT PLATFORMS
OR, IN OTHER WORDS…
CROWDFUNDING 
I S / W I L L B E 
HUGE
GROWING INSANELY, CROWDFUNDING IS STILL EARLY DAYS… 
CROWDFUNDING WILL BECOME A 
DEFACTO WAY FOR PEOPLE TO INVEST
AND 
CROWDFUNDING 
WILL BE GLOBAL
QUESTIONS?
The changing face of the American Investor: Tools, Advice, and Do It Yourself Investing
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The changing face of the American Investor: Tools, Advice, and Do It Yourself Investing Slide 1 The changing face of the American Investor: Tools, Advice, and Do It Yourself Investing Slide 2 The changing face of the American Investor: Tools, Advice, and Do It Yourself Investing Slide 3 The changing face of the American Investor: Tools, Advice, and Do It Yourself Investing Slide 4 The changing face of the American Investor: Tools, Advice, and Do It Yourself Investing Slide 5 The changing face of the American Investor: Tools, Advice, and Do It Yourself Investing Slide 6 The changing face of the American Investor: Tools, Advice, and Do It Yourself Investing Slide 7 The changing face of the American Investor: Tools, Advice, and Do It Yourself Investing Slide 8 The changing face of the American Investor: Tools, Advice, and Do It Yourself Investing Slide 9 The changing face of the American Investor: Tools, Advice, and Do It Yourself Investing Slide 10 The changing face of the American Investor: Tools, Advice, and Do It Yourself Investing Slide 11 The changing face of the American Investor: Tools, Advice, and Do It Yourself Investing Slide 12 The changing face of the American Investor: Tools, Advice, and Do It Yourself Investing Slide 13 The changing face of the American Investor: Tools, Advice, and Do It Yourself Investing Slide 14 The changing face of the American Investor: Tools, Advice, and Do It Yourself Investing Slide 15 The changing face of the American Investor: Tools, Advice, and Do It Yourself Investing Slide 16 The changing face of the American Investor: Tools, Advice, and Do It Yourself Investing Slide 17 The changing face of the American Investor: Tools, Advice, and Do It Yourself Investing Slide 18 The changing face of the American Investor: Tools, Advice, and Do It Yourself Investing Slide 19 The changing face of the American Investor: Tools, Advice, and Do It Yourself Investing Slide 20 The changing face of the American Investor: Tools, Advice, and Do It Yourself Investing Slide 21 The changing face of the American Investor: Tools, Advice, and Do It Yourself Investing Slide 22
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Investing has changed a lot in the past few years. In this presentation, OurCrowd's Zack Miller looks at how technology and the Internet has changed the way we invest and what investing tools are getting popular with U.S. investors.

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The changing face of the American Investor: Tools, Advice, and Do It Yourself Investing

  1. 1. THE FUTURE: SOCIAL, TECHNOLOGY, AND FINANCE THE HISTORY OF ONLINE INVESTING Zack Miller, OurCrowd
  2. 2. BROKERAGE, COMMISSION-TRADING, AND ASYMMETRY OF INFORMATION HOW WE USED TO INVEST
  3. 3. ENTER SCHWAB. • Circa. 1971 • Fees go down • DIY goes up
  4. 4. THE PLAYING FIELD IS LEVELLED IN 2000 REGULATION FAIR DISCLOSURE (REG FD)
  5. 5. HIGH NET WORTH INVESTORS TURN TO THE INTERNET
  6. 6. THE DATA SPEAK FOR THEMSELVES • 41% of HNW investors seek out investment information from the Internet • Investors are online, using tools, and experimenting with new platforms
  7. 7. NEXT GEN ONLINE ADVISORS STARTING TO BREAK OUT WEALTHFRONT SURPASSES $1B IN AUM
  8. 8. INVESTORS ARE FINDING NEW ASSET CLASSES • In 2014, Lending Club surpassed $4 $5 billion in total peer to peer loan underwritings (4x 2012’s numbers)
  9. 9. WHERE’S WALL STREET? INVESTORS ARE CROWDSOURCING MORE ACCURATE FINANCIAL ESTIMATES
  10. 10. BUT, THERE ARE STILL CHALLENGES FOR THE “NEW” FINANCIAL INDUSTRY
  11. 11. ACCORDING TO THE YEARLY EDELSTEIN TRUST BAROMETER STUDY… FINANCE IS THE LEAST TRUSTED OF ALL INDUSTRIES
  12. 12. HOW DO INVESTORS MAKE BETTER INVESTMENT DECISIONS?
  13. 13. REPLICATION STRATEGIES • Copying top investors like Warren Buffett actually works • Martin, Gerald S. and Puthenpurackal, John, Imitation is the Sincerest Form of Flattery: Warren Buffett and Berkshire Hathaway (April 15, 2008). Available at SSRN: http:// ssrn.com/abstract=806246
  14. 14. THE CULT OF THE 13-F INVESTORS • Tools like AlphaClone enable investors to piggyback on top of the world’s best hedge funds
  15. 15. MOTIF INVESTING: DIY, SHAREABLE “ETFS”
  16. 16. INVESTORS ARE RESPONDING BY PARTICIPATING IN DEMOCRATIC INVESTMENT PLATFORMS
  17. 17. OR, IN OTHER WORDS…
  18. 18. CROWDFUNDING I S / W I L L B E HUGE
  19. 19. GROWING INSANELY, CROWDFUNDING IS STILL EARLY DAYS… CROWDFUNDING WILL BECOME A DEFACTO WAY FOR PEOPLE TO INVEST
  20. 20. AND CROWDFUNDING WILL BE GLOBAL
  21. 21. QUESTIONS?
  • rajulrana1

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  • midmarketplace1

    Aug. 29, 2015
  • MichaelHsu14

    Jul. 12, 2015
  • tonyvidler

    May. 25, 2015
  • JohnMBradyAAMS

    Dec. 12, 2014
  • jsp_1983

    Dec. 5, 2014
  • ourcrowd

    Nov. 30, 2014

Investing has changed a lot in the past few years. In this presentation, OurCrowd's Zack Miller looks at how technology and the Internet has changed the way we invest and what investing tools are getting popular with U.S. investors.

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