Ted,
The custom series tool used to have several p123 examples as well as public examples that one could use however these appear to have been deleted with the introduction of the new interface. Please restore these.
Thank you
Scott
I agree. There are some privacy issues too. To which extent does P123 gather data about users’ private portfolios ? Collecting this data is not OK without our consent. Sharing it with the www is even less OK.
When I run a Book Sim after updating the Portfolio Sims with the latest date, the Risk Measurements page for the Book does not reflect the latest Portfolio Sim dates. (The Book Performance Stats shows the correct date.) Tried in both IE and Chrome.
Never mind. My error.
Can’t agree more.
Exactly my position.
Furthermore, when these dates are used by other investors, the performance of the (original) strategies could be affected / reduced.
Matthias
It says the All Users data is for portfolios that are set to public.
We didn’t think anyone would mind since its just a tiny sample from aggregates of live ports/books (real positions or not, we don’t know). Furthermore if someone bought any of these stocks, having that disclosed after the fact results in more demand which will only a) make it go higher b) make it easier to sell. So it seems win/win.
So for those reasons we thought it was harmless. We like this feature because it showcases different stocks than your usual CNBC stock or “most viewed” stock. But we understand that someone may not want this disclosure. I see two viable solutions:
- ability for someone to opt out from the statistics from My Account setting
- only include stocks that have been held at least 1 week (or so)
Let us know. Thanks
Portfolio123, Can you confirm that this information is revealed for public portfolios only?
I think this is quite interesting, as a potential warning with regards to concentration, even though you do not know if the users that created those portfolios are actually even trading on them.
The data being aggregated and considering there are thousands of portfolios it should give up any individual sensitive data.
Could you confirm that this is only for public portfolios? If so I think it is not very useful.
I checked the code. It’s counting all holdings across all users (live ports/books) without any checks for visibility. Then sorting by the # of ports holding them, and taking the top 20. The most popular stock is “held” in about 1000+ models.
Let us know any pros & cons and we will promptly make a decision. Again, we though it’s a win/win.
I am of the mind that it’s a win/win… But I doubt P123’s splash page is going to put Jim Cramer out of business. Besides if you’re in one (or 3 of the listed stocks like I am), it could only help to boost sell side liquidy when it’s time to say farewell to any particular holding.
The logic “it can only make stocks go higher” makes sense for high turnover portfolio. Some portfolios have a 100% turnover or less, so they could buy the stocks weeks or months after it appears on the page.
I’m sure P123 motivation is nothing but good however I’d like to opt out of these stats. My models own several stocks appearing on the front page and I’d rather they didn’t show unless I could be 100% sure they would get recommended before appearing on the front page, which of course is impossible…
aurelaurel,
If your stocks are showing on the front page, its because you are using models with similar methodologies to thousands of other portfolios, they are not there because of your models specifically, the picks are aggregated out of thousands as Marco said so the impact of any user is negligible. This is giving you valuable information, in that there is a risk that these models might be crowded with other P123 users. If liquidity is ample, then it is probably not an issue, if liquidity is limited then it is a warningg sign. By opting out, you will not change those picks, but if you and many people opt out then the value of this information worthless to everyone, including yourself.
I am in favour of keeping it as is, but I think that it should be an all portfolios (no opt-out) or none (so only public sims) In any case, it would be good to have an info near the box, stating whether the ports are public or public & private, and the number of ports.
Thank you,
I’m in favor because it makes the front page more interesting, is useful information, and allows me to see if my trades overlap with others.
I’m in favor of the ticker cloud if the information is delayed. I don’t want to see my picks appear before the market opens. Just sayin’.
I already added a restriction to only include holdings that are at least 5 days old. The list refreshes twice per day.
aurelaurel-
The 5 days waiting period Marco just put on should let you get in before the ticker of any of your stocks appears in the box.
The appearance of stocks in the box adds some buying pressure to each of them, which is something you want. Most financial listserves are full of people who are “talking their book”, telling you what they have bought and why you should buy these stocks as well. Since you find some overlap between your portfolio and the tickers in the box, the appearance of these tickers in the box is a great help to your portfolio.
You don’t even have to buy before the tickers appear. Most of these tickers seem to last for at least a few weeks, and while they are there they put upward pressure on the prices of the tickers.
I, too, find an overlap between what I am holding and the stocks mentioned in the box. In fact, of the 12 stocks in my portfolio, 7 are in the box. But I would like everyone to see what is in the box, so it will put upward pressure on these 7 holdings.
-Bob
At the risk of being a contrarian I don’t see what the fuss is all about. Any of us who are screening for growth or value are already seeing these names. Someone who woud invest based on symbols in a tag cloud are doomed to fail anyway and unlikely to be on P123 for very long. Most of the symbols that I see there are aalready on one of my value or grwth screens and tend to be large cap names…so less likely to be subject to front running.
I understand how people see the feature as a win/win. Nonetheless I would prefer an opt out. A big part of the allure of P123 is the idea that I’m taking control of my trading. My results are the result of what I’m doing. When decisions are made that could arguably affect me where I am not given an option, I lose that sense of control. Should things head south in the future, I want to be able to fully own the outcome and not be left with the nagging thought that it was avoidable and someone else is to blame.
Is anything being done about this? Why does the new interface prevent hyperlinks to P123 web-pages and can anything be done about it. If the answer is no, then let us know.