MonkeyMarket was inspired by the Princeton Economics Professor Burton Malkiel, who was most famous for saying "A blindfolded monkey throwing darts at a newspaper's financial pages could select a portfolio that would do just as well as one carefully selected by experts.". We wanted to put that theory to the test, and turn the fintech world on its head in the process.
What it does
MonkeyMarket creates a fund out of a random selection of several hundred stock indexes scraped from the Alpha Vantage API, then compares it to the index fund of your choice, which it uses to gauge whether or not a "monkey" would've had better returns in the past year in comparison to the index fund.
How we built it
Challenges we ran into
The free version of Alpha Vantage only allows for 5 API calls a minute, limiting our ability to call the thousand stock indexes as we had initially hoped. Only having two members working on the project also severely limited the potential scope of the project. The last detail that was difficult to manage was the domain name, as we had to learn how to use the google cloud platform to get our site up and running. Thankfully, we managed in spite of these challenges.
Accomplishments that we're proud of
Last year, our group was unable to merge the back-end of our project with the front-end. This year, we were able to pull it off! Our website also has significant improvements from last year, after having used Grid.CSS as well as Flexbox over bootstrap. And last but not least, we're proud of making a product that takes a more fun approach to looking at finances.
What I learned
What's next for MonkeyMarket
Being able to simulate investing in your "monkey curated" fund on a day to day basis would be the next step, as well as a possible expansion to allow purchasing funds in this manner, so long as there is enough conclusive evidence supporting the idea that monkeys could pick stocks better than the experts.
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