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Discussion in 'Investor Resources & Tools' started by Natxo, 7th Jul, 2017.

  1. Natxo

    Natxo Member

    Joined:
    2nd Jul, 2017
    Posts:
    6
    Location:
    QLD (actually living in Phnom Penh)
    ...with a tool (if you are using any) to manage his/her investments? I have done some research but I can' find anything really interesting :confused: Maybe I haven't look deep enough, so can anyone advise me?

    Thank you!

    Natxo.
     
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  2. twisted strategies

    twisted strategies Well-Known Member

    Joined:
    3rd Nov, 2013
    Posts:
    1,062
    Location:
    QLD
    i use my eyes ...

    and my varied experiences in life .

    indeed i picked a dud in HST , but hit gold in TPM and MQG (where i did some contract work with all 3 companies ).

    i keep my eyes open when i shop ( spent a few years in retail ) walk through shopping centres and malls ( and assess the commercial property market at the same time ) ... and LISTEN to retired tradesmen and business professionals in 2012 to 2015 when most where fascinated with East Coast Australia .. i was looking closely at Western Australia ... and loaded up on BOQ ( was expanding in Perth then ) , bought into JYC , WIC , OZG , SVW , TFC/JIN ( have taken plenty of profit on this one , will be well in front even if it fails now ).

    i create my own scans ( and change parameters as the economic climate changes ).

    as clumsy as it is , i self-manage my own holding and keeping it ( relatively ) simple has its charms as well .

    now research can be very interesting ... early on i bought into SOL ( only a handful of shares ) not so exciting , but the shareholder letter posted once a year was positively enlightening , and from insight gained from those letters , i have invested in several of companies SOL has an interest in ..

    other LIC reports can be useful as well ( i hold several with different investment styles ).
     
  3. Simon Hampel

    Simon Hampel Co-founder Staff Member

    Joined:
    9th Jun, 2005
    Posts:
    4,779
    Location:
    Sydney, Australia
    What are you needing this tool to do?

    Is it simply tracking your assets and your overall portfolio?

    Is it making recommendations or suggestions?

    Is it for trading - charting, etc?

    For most things a simple spreadsheet works well - Google Sheets is free if you have a Google account, I've been using it for years now, works very well.

    Reckon Personal Plus (aka Quicken) has some share portfolio tools in it, but I was never that impressed ... although that was probably 10+ years ago the last time I looked at the functionality.

    Due to the complexities of share and distribution income (franking credits etc) - especially if you hold foreign shares (from memory I gave up with Quicken when I had difficulty tracking my USD based IBM shares), I gave up and now just keep all the transaction records and give them to my accountant to sort out at tax time. I use spreadsheets to track performance and weightings and such.
     
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  4. Corey Batt

    Corey Batt Finance Strategist

    Joined:
    12th Apr, 2016
    Posts:
    54
    Location:
    Adelaide, SA
    It depends what type of 'tool' you're looking for. ie are you looking for something to keep up to date all your assets/liabilties, or a trading platform or other?

    Through our financial planning arm we offer our clients a multi platform app called My Prosperity which allows you to monitor your wealth online for all your investments and it can also be set up to get direct feeds from your superannuation, bank accounts, property values from RP data etc. It also makes it much more simplified come tax time because your property and portfolio managers can send info direct to the portal and it can reconcile your bank account.

    Overall it's pretty handy in terms of building an up to date overview of your situation and budget planning/goal tracking.
     
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  5. Natxo

    Natxo Member

    Joined:
    2nd Jul, 2017
    Posts:
    6
    Location:
    QLD (actually living in Phnom Penh)
    @Simon Hampel I see, you are right, focus is important. I was thinking mainly in tracking performance, but could be for suggestions as well. Not for trading. I will have a look to Quicken. About the tax info you give to your accountant, I am wondering, apart from the expenses you can incur when buying and selling, the profits you made in the year,... why is so important to have an accountant to do the tax? Why you just do it by yourself?

    @Corey Batt Oh, thanks for the info. So you can link all the movements from your bank to this app, without needing to input data?
     
  6. Corey Batt

    Corey Batt Finance Strategist

    Joined:
    12th Apr, 2016
    Posts:
    54
    Location:
    Adelaide, SA
    Correct - it auto-receives feeds and categorises expenses so you can feed it into a budget etc. Here's a little youtube vid which shows some of it: