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Launch HN: Enombic (YC S20) – Create your own stock indexes

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Re: Launch HN: Enombic (YC S20) – Create your own stock indexes

#25

Post by aliquotchris »

sheep-a wrote: post #19
_eb13 wrote: post #15

Earlier quoted context omitted.

Awesome! Definitely, didn't call this out explicitly in our post but anyone who joins the waitlist today will be expedited.

Cool just signed up and same issue, unauthorized when I try log in

Hey, thanks for checking us out! If you submit to join the waitlist, we'll prioritize you in the queue. Attempting to sign up or login in at this time will just route you back to the landing page. It's not a very clear UX at the moment, thanks for reporting it.

Re: Launch HN: Enombic (YC S20) – Create your own stock indexes

#26

Post by jagan120 »

Few questions from my side:

- Is it possible to make indexes of other country equivalents on this platform? Even if those stocks arent listed on US Markets.

- How are the taxes going to work in general if the indexes are actively managed?

- Are the 8949s and 1099s autogenerated for individual users by enombic?

Thanks!

Re: Launch HN: Enombic (YC S20) – Create your own stock indexes

#27

Post by _eb13 »

vitovito wrote: post #14

Being able to the see the components is a great start, but one of the things we've been unable to easily do in our own trackers is dynamically remove particular stocks to see how much someone's portfolio growth is relying on e.g. TSLA. Any plans for that?

We're really interested in making the index editing dynamic. E.g. as you modify the weights, all metrics update in real time.

Additionally, we're interested in side-by-side comparisons as well, similar to a code "diff" on Github. So you can see how your modifications changed performance relative to a past version.

We'd love to get your feedback on this. If you have more thoughts, feel free to reach us at hello [at] enombic [dot] com

Re: Launch HN: Enombic (YC S20) – Create your own stock indexes

#28

Post by bww »

_eb13 wrote: post #20
Ntrails wrote: post #7

Rebranding stock picking as "index construction" is really quite disingenuous. I guess you're encouraging somewhat diversified stock picking, but honestly I'm dubious this is a 'good' idea for expected outcomes.

Thanks for your feedback! If you want to stick to more traditional indexing approaches, that’s supported. For example, one user has stayed very close to VTI, but made some modifications to customize VTI to her goals and existing portfolio ( https://enombic.com/abby/VTI-15 ). We also have some users who want an easier way to automate their investments into a classic Vanguard basket ( https://enombic.com/aml/lazy ). Ev…

I think OP's concern (which I don't necessarily share, but which I think is valid) is that indexes are generally considered to be relatively safe investments but if you're personally choosing the securities in the "index" you're essentially just choosing individual stocks, which is generally considered to be a bad idea for most people.

So it could be argued that you're essentially presenting choosing individual stocks, a highly risky investment strategy, as index funds, a different, much more conservative kind of investment.

Re: Launch HN: Enombic (YC S20) – Create your own stock indexes

#29

Post by hemloc_io »

I've actually been working on a small side project related to open source finance, so this is super cool to see and I'm very excited to use it! This seems like a great tool for use in trading communities etc.

I think that using github-esque features feels like a good in-between from the crazy gamification of Robinhood vs old and sad UX you see at most old brokers.

Are you guys planning on adding options at any point and time, or the ability make more advanced strategies than a basket of stocks?

EDIT: You lose the share link as soon as you click away from the waitlist page, might wanna send an email with it after ppl sign up for the waitlist :)

Re: Launch HN: Enombic (YC S20) – Create your own stock indexes

#30

Post by aliquotchris »

reagan83 wrote: post #23

Congrats on the launch Keri & Chris! This is a fantastic concept that I've done on my own throughout the years. I'm excited to see if this will bridge the gap between index funds and previous gen, higher fee, mutual funds.

Thanks! We're especially excited to hear from folks who've DIY'd this kind of strategy before, would love your feedback.
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