Ask Colin

Where do you source the fundamental data used in your Stock Investment Journals?

The detailed question was:

I am looking for a source of stock data to review stocks, similar to the financial data in your stock journals. I want something  much better than my current sources, which are Commsec with whom I trade, Morningstar with whom I used to have a membership, and the various bits and pieces available for free on the web. I am aware that you use Stock Doctor. Thinking about data quality and quantity, and cost, do you have a recommendation?

 

I can only speak from my own experience here.

In the past I have done most of my fundamental stock analysis using data from (in order of importance and value):

  1. Morningstar (as provided on my broker’s [CMC Markets Stockbroking] website – similar I think to Commsec)
  2. Company annual reports (accessed through my broker’s website or the ASX website announcements page)
  3. Company half-year and annual earnings reports (accessed through my broker’s website or the ASX website announcements page)
  4. Company investor presentations and announcements (accessed through my broker’s website or the ASX website announcements page)
  5. Stock Doctor
  6. Telephone calls to the company or by attending AGMs
  7. AFR

These are still all fine, but since Stock Doctor launched their new website in the cloud with an extensive history of financial statements in tabular form, what I use now (in order of importance and value):

  1. Stock Doctor
  2. Company annual reports (accessed through my broker’s website or the ASX website announcements page)
  3. Company half-year and annual earnings reports (accessed through my broker’s website or the ASX website announcements page)
  4. Company investor presentations and announcements (accessed through my broker’s website or the ASX website announcements page)
  5. Morningstar (as provided on my broker’s [CMC Markets Stockbroking] website – similar I think to Commsec)
  6. Telephone calls to the company or by attending AGMs
  7. AFR

The new facility that Stock Doctor provides with over 10  years of data (if the stock has been listed that long)  – Statement of Financial Performance – Statement of Financial Position and Statement of Cash Flows. A huge plus is that they do the annualising of interim reports, which is a very, very difficult and time-consuming job.

Stock Doctor is not cheap, however, I place great value on my time and the accuracy of the data I use. For me it is invaluable and has saved me much time and effort. You can try it out on their website. If you live in Melbourne, go see them and arrange for someone to give you a guided tour. Tell  them I sent you.

I hope this is useful in your thinking.

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