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Show HN: Double – Design and invest in your own stock index

news.ycombinator.com

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Re: Show HN: Double – Design and invest in your own stock index

#61

Post by myarr »

daxaxelrod wrote: post #33
jjmaxwell4 wrote: post #16

Earlier quoted context omitted.

Why trust us? 1. We're working with Apex Clearing, a large US Custodian with more than $100B of assets. Your account is in your name there. 2. We're well funded and backed by reputable investors (YC, Matrix, Youtube Cofounder, and many others). 3. We are registered with the SEC as an registered investment advisor. 4. I personally am in the process of transferring nearly my entire net worth onto the platform. We event…

Love 4.

I'd be wary about 4. I've worked at a fintech startup before where the founders boasted about how they had moved all their net worth onto the platform. Some time later over a casual chat and drinks, it turned out this was far from the truth. Don't just take people's word for it, I may be biased about startups now, but "trust but verify" is a good motto to go by.

Re: Show HN: Double – Design and invest in your own stock index

#63

Post by asciimike »

A product that I've wanted for a long time is "broad market index fund , minus the individual stocks I am overweight in due to current or previous employment equity" (e.g. VTSAX - MSFT, GOOG/GOOGL), any chance you can handle this today/build it out in the near future? Sounds like you might be able to handle this already?

Re: Show HN: Double – Design and invest in your own stock index

#68

Post by bb88 »

jjmaxwell4 wrote: post #59
noduerme wrote: post #58

Very basic, maybe stupid question: If you're not changing your portfolio strategy or altering your weights, does this work by rebalancing your investment every so often, so that the % of total dollars you hold in an index continues to match the weights you set? Like if a customer creates an index that's 50% AMD and 50% NVDA, and you put $100 in that index, does the customer have some underlying account that initially…

Not a stupid question at all. Short answer for your simple scenario is yes it would rebalance. The longer answer is it depends on the output of our optimization engine. Our optimizer tries it's best to make the portfolio better, taking into account drift, trading costs and taxes and potentially holding costs for etfs and a factor model for broad diverse portfolios. Wash sales also play a large part because by default…

Another stupid question. How much of that is your total portfolio?

More than 30%? Less than 30%?

Less than 30% means that you're still ok if double fails. More than 30% means you have a significant portion riding on it.

If you're worth 50 million, you can probably lose 5-15 million and still be okay...

Re: Show HN: Double – Design and invest in your own stock index

#69

Post by jjmaxwell4 »

asciimike wrote: post #63

A product that I've wanted for a long time is "broad market index fund , minus the individual stocks I am overweight in due to current or previous employment equity" (e.g. VTSAX - MSFT, GOOG/GOOGL), any chance you can handle this today/build it out in the near future? Sounds like you might be able to handle this already?

Yes we can handle this already. You can customize our broad market indexes by removing or lowering the weights of specific stocks (or sectors although you asked about stocks).

Re: Show HN: Double – Design and invest in your own stock index

#70

Post by jjmaxwell4 »

debo_ wrote: post #65

M1 Finance also has this capability, does it not? Lyn Alden maintains her newsletter portfolios using M1. (I'm Canadian and to my knowledge, no established company does this well for Canadian accounts.)

As far as I'm aware, M1 does not offer automatic portfolio rebalancing or optimization. I also don't think you can really do any sort of direct indexing as you cannot lower the weights of any stock below 1%.

I think we have a few extra features as well and would love for any M1 users to check us out.

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