Monday, March 4, 2013

Fight with Tools

I'm about to graduate and I needed to face the fact that I would no longer have access to some of the awesome tools that I get to use as a grad student.

Here is what I will no longer have access to that I use constantly:
CapIQ (+Excel Plugin!!)
Crystal Ball
Morningstar
Thompson One
S&P Backtester

Here's some stuff I have access to that I rarely use but will probably miss anyway:
Bloomberg Terminal
WRDS
Datastream

One of the goals of Sentinel Research is to provide analysis with cheap tools. I don't have millions of dollars under management, so I can't be spending capital on these kinds of things. So I've started looking into what I can find online.

FinViz.com is a decent free stock screener - it obviously doesn't have everything CapIQ does, but it has the basic screens I run most often.

I have found that Yahoo! Finance is close in format and info to Morningstar and to be completely honest with myself a lot of what I use Morningstar for does not require full access.

I am currently looking for good replacements for Crystal Ball and Backtester but I haven't found suitable candidates yet.

Beyond these, I actually plan on moving into more of a machine learning approach to stock research, so I plan on spending my time in R, SAS, and Python. My goal is to design some simple tools to evaluate stocks based on criteria that I believe to influence returns, then to test the results. My best ideas will be backed with real capital but I will keep track of my secondary ideas using a "fantasy portfolio" as well.

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