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Very nice, coincidentally I have been thinking about making a similar tool lately, but I'd make it quite a bit more conservative. I'd want to be able to define

Very nice, coincidentally I have been thinking about making a similar tool lately, but I'd make it quite a bit more conservative. I'd want to be able to define a model like "I think the fair value of a company is its net current assets plus its last 5 years of earnings", and have the tool email me whenever I can buy shares in any company substantially below that price, or sell them substantially above. It wouldn't be very hard to do, it just needs the data. Where are you getting your data from?

trevzercap 2y ago
Hi the data is from https://site.financialmodelingprep.com/developer/docs https://site.financialmodelingprep.com/developer/docs
- jstanley 2y ago
  Thanks
- mkl 2y ago
  > Attribution is required for all users. It is as simple as putting “Data provided by Financial Modeling Prep” somewhere on your site or app and linking that text to https://financialmodelingprep.com/developer/docs/ https://financialmodelingprep.com/developer/docs/. I don't see attribution on useequityval.com?
- sumedh 2y ago
  How much do you have to pay for data?
vg_head 2y ago
This is exactly the kind of tool I would want as well. I was surprised nothing like this exists already.
- trevzercap 2y ago
  Sounds like maybe i should build a notification system so if a stock drops a certain percentage below your models estimated value you get alerted?
  - vg_head 2y ago
    Yes, at least that would be a great start for me.
- nonameiguess 2y ago
  I don't know if this is the reason but it is somewhat trivial to roll your own. This is actually close to the story of how I became a programmer in the first place. 17 years ago or so, I made something like this in Excel and figured out how to populate the data from the Yahoo! Finance API, then learned about FRED, BLS, other sources of possibly relevant economic data, but still doing everything in Excel, eventually deciding to learn C++ since I'd heard it was the industry standard for finance. I caught the bug, ended up being more into software than finance specifically, and the rest is history. My motivation at the time was this was the middle of the big global financial crisis, everything had tanked, and it seemed like a great time to get in low. Buying my first house in 2009 was probably the most advantageous thing I did, though I was at least able to do that by tax-free early liquidation of an IRA that was full of self-picked stocks.
repeekad 2y ago
You should checkout fintool.com, you can ask in natural language for this kind of data and soon set up alerts on it
- czbond 2y ago
  Thanks for pointing that out - fintool seems really impressive as well
davedx 2y ago
> I'd want to be able to define a model like "I think the fair value of a company is its net current assets plus its last 5 years of earnings", and have the tool email me whenever I can buy shares in any company substantially below that price, or sell them substantially above. Be careful with investing using a model like this: you're basing the value of the company entirely on its historical performance and not at all looking at what its future may look like. It's a great way to end up in value traps. Exaggerated example, you see Intel's stock price has taken a huge dive that puts it under your limit so you buy a bunch of the stock. But it turns out the reason Intel is now cheap is because ARM, AMD and NVidia have eaten its lunch, and its future looks incredibly shaky. Likewise, selling stocks that are substantially above some past valuation is also a good way to exit from positions that are likely to continue to outperform. Stocks get "re-rated" by the market when their future prospects have improved. That's not a great time to exit the stock - if anything it's a time to buy more. YMMV, value investing is still successful of course, but you do need to look forwards not backwards.
gymbeaux 2y ago
Getting the data is always the hard part for stock apps. My experience has been that it’s very difficult to get up to date data for free. You’ll probably have to pay for an API. You’ll probably want to anyway so that you aren’t juggling several free APIs to get the same data, or so you’re working with a mature, easy to use, RESTful API. I’ve worked with stock market APIs that are miserable to use.

trevzercap 2y ago

Hi the data is from https://site.financialmodelingprep.com/developer/docs https://site.financialmodelingprep.com/developer/docs

jstanley 2y ago
Thanks
mkl 2y ago
> Attribution is required for all users. It is as simple as putting “Data provided by Financial Modeling Prep” somewhere on your site or app and linking that text to https://financialmodelingprep.com/developer/docs/ https://financialmodelingprep.com/developer/docs/. I don't see attribution on useequityval.com?
sumedh 2y ago
How much do you have to pay for data?

vg_head 2y ago

This is exactly the kind of tool I would want as well. I was surprised nothing like this exists already.

trevzercap 2y ago
Sounds like maybe i should build a notification system so if a stock drops a certain percentage below your models estimated value you get alerted?
- vg_head 2y ago
  Yes, at least that would be a great start for me.
nonameiguess 2y ago
I don't know if this is the reason but it is somewhat trivial to roll your own. This is actually close to the story of how I became a programmer in the first place. 17 years ago or so, I made something like this in Excel and figured out how to populate the data from the Yahoo! Finance API, then learned about FRED, BLS, other sources of possibly relevant economic data, but still doing everything in Excel, eventually deciding to learn C++ since I'd heard it was the industry standard for finance. I caught the bug, ended up being more into software than finance specifically, and the rest is history. My motivation at the time was this was the middle of the big global financial crisis, everything had tanked, and it seemed like a great time to get in low. Buying my first house in 2009 was probably the most advantageous thing I did, though I was at least able to do that by tax-free early liquidation of an IRA that was full of self-picked stocks.

repeekad 2y ago

You should checkout fintool.com, you can ask in natural language for this kind of data and soon set up alerts on it

czbond 2y ago
Thanks for pointing that out - fintool seems really impressive as well

davedx 2y ago

> I'd want to be able to define a model like "I think the fair value of a company is its net current assets plus its last 5 years of earnings", and have the tool email me whenever I can buy shares in any company substantially below that price, or sell them substantially above. Be careful with investing using a model like this: you're basing the value of the company entirely on its historical performance and not at all looking at what its future may look like. It's a great way to end up in value traps. Exaggerated example, you see Intel's stock price has taken a huge dive that puts it under your limit so you buy a bunch of the stock. But it turns out the reason Intel is now cheap is because ARM, AMD and NVidia have eaten its lunch, and its future looks incredibly shaky. Likewise, selling stocks that are substantially above some past valuation is also a good way to exit from positions that are likely to continue to outperform. Stocks get "re-rated" by the market when their future prospects have improved. That's not a great time to exit the stock - if anything it's a time to buy more. YMMV, value investing is still successful of course, but you do need to look forwards not backwards.

gymbeaux 2y ago

Getting the data is always the hard part for stock apps. My experience has been that it’s very difficult to get up to date data for free. You’ll probably have to pay for an API. You’ll probably want to anyway so that you aren’t juggling several free APIs to get the same data, or so you’re working with a mature, easy to use, RESTful API. I’ve worked with stock market APIs that are miserable to use.