New app feeds investors insights from likes of Warren Buffet
iBillionaire app feeds investors insights from likes of Warren Buffett Reuters

A new app called iBillionaire prompts budding investment supremos with the know-how of Warren Buffett, George Soros, and Carl Icahn.

The app provides a constant stream of information and investment insights derived from tracking the market activities of business gurus, collated from Securities and Exchange Committee filings.

The developers say that while this information is publicly available, it is not always easy to understand or to view in one place; here it is conveniently lumped together and served up on tablets, smartphones and via facebook.

As well as the running commentary of what billionaires are doing with their money, there is also an index created from 30 large-cap equities popular among billionaires and an exchange traded fund which tracks the index and allows in anyone with at least $25 to invest.

The iBillionaire app's cofounder and chief executive Raul Moreno said an exchange-traded funds (ETF) approach is designed to attract all manner of investors, large or small.

He said: "It trades like a stock: You can buy it from any bank — JPMorgan, Goldman Sachs, all of them. We believe in the democratisation of these investors' ideas that historically have only been available to rich people. We have the diversification, the liquidity, but not the high fees or high investment minimums.

He said the iBillionaire Index ETF currently holds $36m in assets; the iBillionaire's website claims the index outperforms the S&P 500.