Eliot Spitzer Helps Launch Analyst Accountability Site

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Former New York Governor Spitzer has invested in TipRanks, a website that holds financial experts accountable for their stock recommendations.

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TipRanks was created because there is a lot of bad advice making the rounds in top financial publications. With TipRanks, you know who to trust.

TipRanks, a financial accountability website, is set for an open beta launch today, following the closing of Round A with $3 million. The website provides users with information that holds financial experts accountable for their recommendations. Among their backers is former New York State Governor Eliot Spitzer, who earned his nickname the “Sheriff of Wall Street” for going after corrupt financiers when he was New York State’s Attorney General. Other investors include Cornell professor, Roni Michaely, and angel investor, John Nakamura.

TipRanks was founded in June of 2012 with $700,000 seed money by Uri Gruenbaum, CEO, and Gilad Gad, CTO, as a resource for investors after realizing that there is not enough public information available regarding the track records of experts providing financial advice online; therefore, investors do not know whose advice to trust.

Initially available as a “financial firewall” (extension form which was automatically activated on a user’s screen whenever they read an article with a rating call in top financial publications), TipRanks quickly grew to include a standalone website, ranking over 6,500 analysts and bloggers based on their success rate of financial advice, average return, and consistency.

TipRanks uses machine learning and natural language processing algorithms (NLP) to analyze the internet and measure the performance of anyone giving investment advice on leading financial blogs and websites.

TipRanks' opened beta version (http://www.tipranks.com) provides users with the capabilities to:

  • See the track record of anyone publishing investment advice online, including more than 3,100 sell side analysts and more than 3,500 prominent financial bloggers
  • See a financial expert’s overall success rate and average return, as well as of specific stocks
  • Compare experts based on different benchmarks (such as the S&P 500 or stock sectors)
  • See the top analyst consensus and price target for any stock
  • See the top 25 ranked experts
  • View a live feed of recommendations that are aggregated and analyzed from across the web
  • Follow particular stocks and/or analysts and receive alerts when ratings are released

“TipRanks was created because there is a lot of bad advice making the rounds in top financial publications,” Uri Gruenbaum, CEO of TipRanks explained, “Let’s face it, not all analysts are created equal. By scanning leading financing websites for analyst recommendations, TipRanks is able to provide it’s users relevant information regarding the analyst’s performance history so that they can make informed financial decisions.”

TipRanks, a two time Finovate “Best of Show” winner, aggregates, measures, and ranks digitally published stock recommendations by financial experts so that individual investors know who to trust, rather than just providing recommendation data or market markers.

TipRanks' Financial Accountability Engine transparently provides the individual investor unbiased information about the reliability, accuracy, and track record of those who provide public sell-side advice.

In the name of transparency, TipRanks also provides links to resource pages so users can “ready why” the analysts made each recommendation, as well as a “rating history” so that people can see the list of all recommendations aggregated for this expert. In essence, TipRanks enables the user to see the measured performance of any expert before he or she decides whether to follow a recommendation, or not.

To access TipRanks’ full features, or for more information on TipRanks,
contact Keren Gelfand at keren(at)tipranks(dot)com.

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Keren Gelfand
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