Quicken for stock accounts


Help me understand why many Quicken users manage their stock accounts using
Quicken. From looking at brokerage web sites and from using three of the
majors over a few years, I have never been able to duplicate the same
account management accuracy on my Quicken. For example when you have
different lots of the same security (stocks or funds) most brokerage web
sites give you an account management capability that totally tracks the
individual lot numbers. I think that is very difficult to do in Quicken or
at least it takes me much time. Why do we use Q in this manner? Am I missing
something?
Reply to
HM
On Fri 19 Aug 2005 01:00:07a, HM wrote in news:AzeNe.2699$Ix4.2621@okepread03:
Yes, I believe so.
Reply to
Fred
From an in-frequent trader point of view, here's my 2c. I am sure that other more-frequent traders probably can comment on the use of "lots" since I generally don't care about them for the following reasons:
1 - Individual stocks I only trade in VERY VERY infrequently. So when I sell, to me, it's very clear what I am selling, and since I generally have only bought a particular individual issue at one time, lots aren't important.
2 - Mutual funds, I use (for better of for worse, I know that tax-wise it's probably not the best) the inferred basis that the mutual funds use (generally FIFO) and I think that's what quicken uses as well if you don't identify individual lots. Since I don't identify individual lots when I sell the funds to the mutual fund company, Q and me match up fine.
Again, if I were a more frequent trader or I saw how really non-advantageous it is not to use lots even in my infrequently selling of mutual funds, I might be of a different nature.
And the advantage is that the funds and stocks are totally integrated into Q, so I don't think doing this on other programs and spreadsheets is all that wise since I like to have all my stuff in one place.
Reply to
Andrew
Fidelity does not give me long term history, ROI and that sort of thing. If the information is available from Fidelity then I am missing something. Leo
Reply to
wlslaton

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