Portfolio123 was founded in 2001 by a team of consultants and programmers from leading financial firms in Chicago such as Citadel Investment Group and Driehaus Capital Management. Their collective experience in the roller coaster years of the internet bubble was the seed that started it all. Their goal was not simple: create a "virtual portfolio manager" that once programmed with a particular strategy, would apply it automatically and consistently to create and manage a portfolio.
As more historical data became available and back-testing features were added, it became apparent that this method could be used to create portfolios with superior returns. From this concept the "virtual portfolio manager" evolved and Portfolio123 was launched in July 2003 as a website for investors of all experience levels.
