When I told my dad that I was writing an article about investing, he damn near had another heart attack. He's been trying to get me to pay attention to the market since I was a kid. One of his friends even bought me a share of Squibb stock when I was born!
CNBC is my dad's favorite TV drama. It's the only channel he keeps on for hours at a time, other than whatever channel is showing golf. For me, however, paying attention to either is psychological torture. I just don't care about mutual funds, short selling and bogeys, and you can't make me!
I've been viscerally resistant to learning about these things, despite Dad's pleas. But after hearing about a new service called LikeFolio, I'm thinking he's just been going about it the wrong way--at least with convincing me to invest.
LikeFolio, which initially lured me in with their adorable logo font, basically uses a theory that crazy-wealthy people like Warren Buffet advocate: investing in stuff you actually like.
Have you heard of the David Hasselhoff Index? I hadn't until, like, 10 minutes ago, but it's an actual thing--a stock index comprised of companies David Hasselhoff is associated with. (Yes, that David Hasselhoff.) LikeFolio basically lets you create your very own David Hasselhoff Index: a portfolio of stocks from brands you feel personally linked to.
If you're anything like me, you feel personally linked to a lot of beauty brands, many of which are publicly traded. So, for example, I love Clinique Chubby Sticks and have nearly half the shades they come in. Why not invest in a company I clearly have good feelings towards, right?
But LikeFolio doesn't even need you to think about the brands you like because LikeFolio READS YOUR MIND. Well, not exactly--but pretty close!
They check your social networks for mentions or "likes" of brands (beauty and otherwise) and matches those brands with what's in their database of publicly traded companies. So if you can't stop talking about MAC Iridescent Powder (ahem, Alle), it'll go in your personal LikeFolio.
And when you're ready, you can turn it into an actual stock portfolio with TD Ameritrade. Like a grownup! Honestly, I was on the verge of investing through TD Ameritrade already because I have a crush on Sam Waterston, but LikeFolio makes it seem so much easier, not to mention having a crush on spokesperson isn't a good reason to invest in anything.
You know what is a good reason to invest? Really believing in a company--and I can think of several beauty brands I love that would make for a killer stock portfolio. I bet you can, too. But just in case, you'll be seeing little LikeFolio hints on future posts that include investable brands.
You will not, however, see golf tips. Sorry, Dad.