New Diligence is now available for download. It’s free software that will improve your research and due diligence – allowing you to follow more companies, in greater detail, in less time than you currently invest.
I wrote the software because I grew tired of becoming acquainted with good companies, forgetting about them, and then discovering they had appreciated 50% – or simply missed a significant development because I was busy on something else. I also wrote the software because I am a west coast trader – as anyone in the Pacific time zone can tell you, it’s a real challenge to read news stories before the market opens, even if you awake at 5:30 a.m. This software allows me to prepare quickly. It helps to neutralize the significant advantage east coast traders have when preparing for the market open.
The software is simple to use. Insert a list of symbols on the News Finder tab, then click the “Check For Stores” button. The search engine will pull some relevant headlines for you. If a stock catches your attention during the day, use the Quick Check feature to scan for news. If you discover a company that you would like to follow more closely, the Add To Daily List button will allow you to follow its future news developments. And if you decide the company is one that you would like to follow carefully, the Add To Tracking button will transfer a company to the Research data base where you can record you due diligence observations. The Pop To Clipboard button will allow you to paste your notes into any HTML aware application, like Skype or email so that you can share your research with friends and colleagues. As the software evolves, it will become more capable and more tightly integrated into the Collective Stock website – your notes will always be private, but you will be able to share due diligence and publish a report if you choose to do so.
I hope you enjoy the software and I hope it makes you a better and more diligent investor.