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Show HN: Use wealthbot.io to easily setup your own portfolio management platform

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Re: Show HN: Use wealthbot.io to easily setup your own portfolio management platform

#21

Post by zo1 »

tunesmith wrote: post #19
geno149 wrote: post #6

Earlier quoted context omitted.

You could use it to track the performance and to rebalance your own portfolio. Here's some background on rebalancing: http://www.bogleheads.org/wiki/Rebalancing Btw, I highly recommend Bogleheads.com if you want to learn more about personal portfolio management.

I've been rebalancing religiously every quarter, sector-balanced low-fee mutual funds etc. Lifetime APY so far, 2.5% . S&P500 APY over same time period about 8.3% . Grumble.

Why is no one considering investing offshore? Is it really that risky?

I've seen some ridiculous returns on offshore funds. Have a look at some of the Southern African funds (though it does include non-SouthAfrican funds as well):

http://www.morningstar.co.za/

Re: Show HN: Use wealthbot.io to easily setup your own portfolio management platform

#22

Post by geno149 »

dbbolton wrote: post #11

Why is VirtualBox a prereq? This appears to be a locally-run web app, unless I'm missing something.

The install process in the readme is recommended for your local development environment, not prod.

I'll be the first to admit our documentation needs more work. If you have any questions about installation you can email me - gene [at] wealthbot.io

Re: Show HN: Use wealthbot.io to easily setup your own portfolio management platform

#24

Post by geno149 »

pbreit wrote: post #14
captnmeowmix wrote: post #13

Earlier quoted context omitted.

I don't understand this kind of cynicism. As a financially literate individual, I think this is pretty cool and will probably give it a go at some point. What's more comforting than a locally hosted app in a vm you can tailor however you want? I certainly prefer that over handing all my financial data to some 'cloud' service.

I really don't like being critical but I think this is just kind of silly (at least for US citizens). For example, first survey question: are you "Interested in experiencing dramatic short term losses for better returns?". "Interested"? Really? "Dramatic"? Is that just unfortunate word choice or is this thing just not legit? First of all, Betterment and Wealthfront are good companies. If "startups" concern you, check…

I agree with you - that wording is unfortunate.

That being said, better to think of the risk profile questions in the demo as "dummy data". And it's pretty easy to change.

Go to Advisor -> Proposals -> Edit and update the questions. Here's a gif - http://i.imgur.com/DsZx51m.gif

What's even cooler, thought, is that this "dummy data" is loaded with fixtures. Meaning we can update it and next time you or I install wealthbot.io, no more poorly worded question! Another gif - http://i.imgur.com/1QATMeC.gif

Finally, a quick note on robo advisors. These are great services, wealthbot.io doesn't compete with them. That being said, there is no such thing as a free lunch. Be weary of Schwab's portfolio suggestions, as the CEO of Wealthfront mentions in this article - https://medium.com/@adamnash/broken-values-bottom-lines-3d55...

Re: Show HN: Use wealthbot.io to easily setup your own portfolio management platform

#25

Post by geno149 »

beberlei wrote: post #20

Cool! Even if a demo is great, with the complexity to setup I would prefer screenshots as well to show some standard use-cases. On the technical side: You should really upgrade Symfony to version 2.7 (new LTS), the 2.1 you use is not supported aynmore. In the demo (production environment) you should hide the webtoolbar for security reasons.

Yes, I'll be the first to admit our documentation needs some work.

How about screencapture gifs? Example: http://i.imgur.com/DsZx51m.gif

As far as the Symfony upgrade, great minds think alike: https://github.com/wealthbot-io/wealthbot/tree/feature/symfo...

Re: Show HN: Use wealthbot.io to easily setup your own portfolio management platform

#26

Post by geno149 »

captnmeowmix wrote: post #13
pbreit wrote: post #10

Sorry, but I don't see anyone using this ever. Managing money is mostly about making constituents feel comfortable and this does not. This doesn't strike me as the type of subject matter to do as a side-project or hobby.

I don't understand this kind of cynicism. As a financially literate individual, I think this is pretty cool and will probably give it a go at some point. What's more comforting than a locally hosted app in a vm you can tailor however you want? I certainly prefer that over handing all my financial data to some 'cloud' service.

I like the cut of your jib! Let me know if you have any questions once you decide to give it a go.

Re: Show HN: Use wealthbot.io to easily setup your own portfolio management platform

#27

Post by pjc50 »

zo1 wrote: post #21
tunesmith wrote: post #19

Earlier quoted context omitted.

I've been rebalancing religiously every quarter, sector-balanced low-fee mutual funds etc. Lifetime APY so far, 2.5% . S&P500 APY over same time period about 8.3% . Grumble.

Why is no one considering investing offshore? Is it really that risky? I've seen some ridiculous returns on offshore funds. Have a look at some of the Southern African funds (though it does include non-SouthAfrican funds as well): http://www.morningstar.co.za/

Is that USD-denominated returns or ZAR-denominated? Offshore investment exposes you to FX risk as well as that of the underlying investment.

Re: Show HN: Use wealthbot.io to easily setup your own portfolio management platform

#29

Post by zo1 »

pjc50 wrote: post #27
zo1 wrote: post #21

Earlier quoted context omitted.

Why is no one considering investing offshore? Is it really that risky? I've seen some ridiculous returns on offshore funds. Have a look at some of the Southern African funds (though it does include non-SouthAfrican funds as well): http://www.morningstar.co.za/

Is that USD-denominated returns or ZAR-denominated? Offshore investment exposes you to FX risk as well as that of the underlying investment.

A few of them are USD-denominated (so it's difficult for me to invest in it). Others are ZAR.

So it's the foreign-exchange rate that adds risk/volatility, I see.

Re: Show HN: Use wealthbot.io to easily setup your own portfolio management platform

#30

Post by vladko »

beberlei wrote: post #20

Cool! Even if a demo is great, with the complexity to setup I would prefer screenshots as well to show some standard use-cases. On the technical side: You should really upgrade Symfony to version 2.7 (new LTS), the 2.1 you use is not supported aynmore. In the demo (production environment) you should hide the webtoolbar for security reasons.

upgrading symfony is one of the key things we are working on right now.

don't think of the demo as production, it's just a test server with some dummy data, where you can play around with features of webo.

as open source projects we welcome all the help and as many pull requests as possible :)

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