Sunday, November 7, 2021

Tools of the Trade

I've spent the last 2-3 weeks building out a version of a Screener for stocks. To be honest, most of that time was agonizing over what tools to use and how to get what I needed without breaking the bank. Without further ado, here are the tools of the trade:

  • SimplySafe Dividends - $399 annually - I'm a HUGE fan of the website! It's incredibly simple to use, a quick view of your portfolio, has some great screeners and of course Dividend Safety Stock Ratings. 
  • Stock Rover - $200 - $250 annually - I've only played around for a week, but already this will be worth the investment. Screeners are top notch, as are the Research Reports. Tables and graphs are very dynamic and more opportunity to grow.  
  • Bloomberg - Currently on the promo billing, but top-notch reporting for business.
  • OptionStrat - $180 annually (monthly version) - Top notch visualizations and makes options easy. Will be using for covered calls and puts for additional income. 
  • Schwab - Additional screeners.  
Based on these and a few other tools, the Dividend Town screener 1.0 is complete. I will make tweaks and adjustments to ratios / formulas as needed. 

Next stop is re-adjusting the current portfolio based on the quality metrics I'll be using to drive strategy. This will not be done in a day, but I will start with the Technology sector. While I'm overall thrilled with the performance of NVDA so far (36% gain in less than 30 days), it's the 69 P/E that's a little spicy for me. And with the theme of the portfolio, it's barely a dividend stock.

So for this week, we'll swap out NVDA and Avnet for some higher quality Amphenol and Lam Research Corporation. Both of these are rated as Super Stars on my screener. With these moves, I do not anticipate any further changes in the Technology sector until an end of year review. 

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