Learn about the best free investing tools for asset valuation, fund selection, and portfolio modeling. Discover sources like Yahoo Finance and Google Finance, as well as the features of Koifen and its comparison to Bloomberg. Explore the extensive economic data resource, Fred, and analyze the Boglehead's Simba spreadsheet. Dive into the benefits of portfoliocharts.com for personalized investment portfolios and understand the effectiveness of back tests in predicting portfolio performance.
Free investing tools provide access to essential information for asset valuation and investment decision-making.
Paid tools like Yardeni Research, Sharepad, and Portfolio Visualizer offer additional functionalities and insights for in-depth analysis and risk evaluation.
Deep dives
Free Investing Tools for Data Analysis
There are a plethora of free investing tools available that can help investors navigate the abundance of information. Yahoo Finance and Google Finance are popular sources for stock and ETF data, although they may have some limitations. Koifen is a platform that offers a mix of Bloomberg-like tools, focusing on funds and stocks. Fred (Federal Reserve Economic Data) is a valuable resource for economic data, offering a wide range of variables for analysis. These tools provide investors with access to essential information for asset valuation and investment decision-making.
Data Sources for Investing Insights
Yardeni Research, Sharepad, and Portfolio Visualizer are paid tools that offer valuable data and analytics. Yardeni Research provides market valuation charts and data on various equity markets. Sharepad is a comprehensive tool for UK investors, offering access to UK stock and fund data. Portfolio Visualizer is an excellent tool for risk analysis, factor analysis, and Monte Carlo simulation to help investors evaluate portfolio performance and risk. These paid tools offer additional functionalities and insights for investors who require more in-depth analysis.
Backtesting Limitations and Calibration
While backtests can provide insights into historical performance, they do not guarantee future results. Crises and unforeseen events, such as geopolitical conflicts or major market disruptions, can significantly impact portfolio performance in ways that are challenging to predict. It is essential to consider the limitations of backtests and not rely solely on past data. However, backtests can be valuable for calibrating expectations, understanding risk and return relationships, and exploring different portfolio allocations and strategies.
Simplicity and Historical Data Availability
Simplicity is key when constructing a portfolio, focusing on a few essential asset classes rather than overcomplicating with too many. It is important to note that not all asset classes have extensive historical data, which can make it harder to gauge their long-term performance. For example, real estate and emerging markets may have limited historical time series. Investors should exercise caution when relying on backtests for asset classes with limited data. US equity, with its extensive historical record, remains a widely analyzed asset class.
There’s never been more information available to investors, but how do you avoid drowning in data? We’ve gathered our favourite investing tools from across the web to help. And what’s more, they’re free.
Get ready for asset valuation, fund selection, and portfolio modelling made easy.
And in today’s Dumb Question of the Week: Do backtests really work?
New subscribers to Sharepad get the 2nd month free for monthly subscribers, or an additional free 13th month for annual subscribers: https://sharescope.co.uk/pensioncraftsp
This podcast is for informational and entertainment purposes and is not financial advice. We do not provide recommendations or endorse any decision to buy, sell or hold any security. We cannot be held responsible for any actions listeners may take and investors are encouraged to seek independent financial advice.
Copyright 2023 Many Happy Returns
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