Danish investor Christian Kongsted quit his job as an online marketer a year and a half ago to fully focus on his new career as a popular investor with broker eToro. That means he earns his money by managing his portfolio, which is followed by more than 22,000 private investors. According to Kongsted, his followers together have 41 million dollars, he tells Business Insider Netherlands. eToro confirms the number of followers of 22,000 and indicates that the combined wealth of these investors is above 10 million dollars.
eToro pays Kongsted a fee in exchange for insight into his investment strategy and answering the questions of his followers.
Career as a popular investor
How did you become a popular investor?
“Looking back, that was completely coincidental. When I became a client of eToro, I already knew there was a program for popular investors. Initially I had no ambition to become one of them. But then I became very interested in investing. That’s partly why I started doing that program at a certain point and people started copying my portfolio.”
“I had a part-time job and I used the rest of the time to invest and learn more about financial markets. What fascinated me was that if you have a good risk score, achieve a good return and continue to learn a lot yourself, you can be followed by a lot of people. It is an interesting opportunity for a career as an investor.”
Do you really want to make this a full-time job?
“Yes. The job of a popular investor is a full-time job and can become a career if done right. You can grow in it by passing different levels. And your growth is determined by the number of people who copy your portfolio. I have reached the top level.”
Do you have another job?
“I also have my own financial website, where I write about investing and financial markets. That’s what I do next to eToro. But since a year my main earnings come from eToro. Before that I had a part-time job in online marketing. I quit that job to devote all my time to investing.”
Do you feel a great responsibility towards your followers?
“If you’re at the top level like me, you have to take this seriously. It certainly gives a lot of responsibility when people copy your wallet. You can’t afford not to follow financial markets. I follow what is happening all the time.”
“Everyone can see my returns and I have to answer questions about my investment decisions. Those who follow me can always ask questions like “Why didn’t you buy this stock” or “Why don’t you sell this stock?”. It can also be about current issues, such as ‘Why didn’t you hedge your position when you heard about the omikron variant?’ I can discuss this with them and I hope they learn something from it.”
Do you earn more with the return of your investment portfolio or through the compensation you receive as a popular investor?
“The compensation is of course very important. But it’s just as important to make a good return with my portfolio. Otherwise I will not get new followers.I want to grow that to $1 million over 17 years using the returns and income reinvestment. When I have achieved that goal, I can choose to retire.”
“That long-term goal is also a way of telling my followers that I can keep them copying my portfolio for years to come. The chance of a good return is also greater if you have a long investment horizon.”
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