A new cell phone technology company wants to take the small change from each purchase a user makes and invests it in the stock market. Tech start up Acorns’ new app offering Newport Beach, CA-based Acorns Corporation offers a new application that monitors daily credit card transactions and pockets spare change into an investment account. The first application of its kind, it is growing like a weed. The cell phone application, currently in beta and not promoted, has attracted 11,000 investors and $10 million under management in three months, according to the company’s founders Jeff and Walter Cruttenden. Acorn recently received an…
Tech Start Up Automatically Invests Loose Change
Mark Melin
Mark Melin is an alternative investment practitioner whose specialty is recognizing the impact of beta market environment on a technical trading strategy. A portfolio and industry consultant, wrote or edited three books including High Performance Managed Futures (Wiley 2010) and The Chicago Board of Trade’s Handbook of Futures and Options (McGraw-Hill 2008) and taught a course at Northwestern University's executive education program.