Portfolio123 Stock Screener

The stock screener from Portfolio123 is actually several stock screeners rolled into one. Registration gives you access to a free version and, if you choose, you can extend the functionality available to you by paying a monthly fee.

Three levels of functionality are available and determine not only how much space you get on the system for development but also how much historical data you can access for back-testing and simulation. The functionality included in the fee-based screener is impressive.

“Must Have” features

As always, the data requirements of your investing strategies are the primary consideration. With over 500 fundamental, technical, and industry parameters available, you are likely to find what you need. The majority of the data is not focused in any one area but spread across many categories.

For some users, the need to enter criteria as a formula rather than as a series of dropdown lists may be a shortcoming. For example, if you want to consider a P/S ratio less than 1.5, you select the appropriate P/S factor by double clicking then double click (or manually enter) the less than operator “<”. Finally, you enter the value “1.5” on the same line. Most screeners allow you to select or enter these elements using a grid of dropdown lists.

Notice, however, this means you can enter calculations!

The bad news (for the free versions) is that after entering a screen –simple or complex – you can only save one screen by name. A workaround is to cut and paste the text of the criteria into a spreadsheet for later use. The rest of the bad news is that you cannot download the results to a spreadsheet in the free version.

The failure to download the results is a failure of the “must have” features of a screener. However, the criteria and the logic the site offers free are so compelling you may want to consider it anyway.

Portfolio123 “Nice to Have” features

Many of the nice-to-have features are available. Both industry relative and historical data points can be included in the logic. If an investing strategy calls for an industry relative comparison rather than an absolute value, the screener can handle it. Technical analysis criteria are also available.

Like most screeners, the results of the screen are provided as a list where each row represents an equity that passed the screen. Not only can you look at all the data points independently of the screening criteria, you can sort the results by any viewable field.

A very nice feature is an icon that displays Yahoo Finance price/volume chart of the equity. An even nicer feature appears when you click on the ticker. You get a chart and some basic financial information but you get a ranking of where this stock fits in one of several ranking systems. Very impressive.

Limiting the results to a specified number is not included. Saving the results to a portfolio of having access to the ranking system requires a monthly fee and is not included withthe free screener.

Portfolio123 “Advanced” features

Custom formulas and advanced logic are included in the free stock screener.

Portfolio123 offers no proprietary ratings. Their proprietary investing strategies are available in the fee-based screener along with other advanced features such as back-testing and screening against custom baskets of stocks.

NOTE: The fee-based screener will be reviewed separately.

Implementing investing strategies

Your personal investing strategies identify the data and logic needs of the best stock screener for you.

The Tiny Titans investment strategy discussed elsewhere on this site is used to illustrate how Portfolio123 can implement an investment strategy.

Conclusions

There is very little this screener cannot do, and the price is compelling. Even the free screener is worth evaluating if you are considering a free trial. Keep in mind that the free version has some constraints.

The extensive capabilities suggest a longer learning curve. But you can get the feel of the screener and if it meets your needs, upgrade to the fee-based version. If you are already familiar with StockScreen123, this will be an easy transition.

To examine the screener in more detail, you can register for the free screener or register for a free trial . To register you must identify the referrer - please select StockScreening101 from the drop down list. If you register for the free trial, entering STOCKSCREENING101 in the code will get you an additional 15 days. Notice that both the free and full registration give you access to their forums.

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