I am reading your posts with interest and wondering what, if anything, I might want to include in a port using InList. Again, credit to Georg who has expanded Piggyback options available to P123 members too.
It is my understanding that members outside of the United States can have some trouble using Fidelity. My apologies if this is the case for you–possibly making this an idea that might not have any potential.
But for my own trading I am only interested in ideas that have out-of-sample data and are not cherry-picked.
Fidelity’s site has A LOT OF PROBLEMS. But you can download up to 500 tickers at a time. If you sort A-Z then Z-A (and merge them) you can get 1000 tickers easily. More if you divide the downloads, using market-cap for example, and merge the spreadsheets. So it has some potential for being used in InList: if there is any good data in there.
Investars covers the analysts on Fidelity’s site. And Starmine has a way of merging the analysts opinions (a method that may or may not be useful).
Did I mention that there are a lot of problems with this site? The opinions are always delayed. There seem to be frequent errors or discrepancies in the Strarmine Ratings. But there is SOME out-of-sample data for each of the analysts ratings performance. Again, their ratings can be downloaded.
With that long background let me show you some of the out-of-sample results as you probably do not have access to Fidelity now. The first is the Starmine rating which aggregates all of the analysts’ ratings (from 8/31/2009) and runs a monthly rebalanced portfolio out-of-sample. Obviously, I would avoid large-caps if you use Stamina’s data.
The second is Investor’s data on the individual analysts. Unfortunately this is only for 2 years and they split out each sectors results. But one can get a feel for which analysts have been doing better than the others for the last 2 years. This Investars data is rebalanced monthly as is Starmine’s.
This may not be helpful but wanted to share with you while you are posting on this subject.
I may be giving away a secret–should I end up using some of this. But it is a secret that a lot of people already have access to. And, I think sites like Zacks work–in part–because they are public and many people follow the recommendations which increases the demand for the tickers in their ratings (driving up the price). A type of self-fulfilling prophesy which may be present for any useful sentiment data. So maybe the more public this is the more useful it becomes.