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Ghostfolio: Open-source wealth management software

ghostfol.io

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Re: Ghostfolio: Open-source wealth management software

#131

Post by xcdzvyn »

halotrope wrote: post #21

Ghostfolio is awesome! Sorry for the plug, we are doing something similar with markets.sh it's not open-source (yet) but we're giving you all the data of connected portfolios and bank accounts via api and it's free if you just want the data. Also we are investing a lot of time in asset matching and market data (even options are supported), something all the other tools we've tried fell short of (especially global sto…

I much much prefer markets.sh' UI to Ghostfolio's, honestly. I'd even call it particularly good. Looks like Tailwind, right?

When you say "(yet)", are you referring just to the API code or everything? Because I'd love to use this if I could host it myself.

Re: Ghostfolio: Open-source wealth management software

#132

Post by Thorrez »

Galanwe wrote: post #97
skippyboxedhero wrote: post #46

Earlier quoted context omitted.

Worked in wealth management (and am now building something similar to the OP but from a totally different direction), it is a complete scam. The original comment says that no-one is using apps...what do you think wealth managers use? Wealth managers are usually the same products that are re-skinned for professional use with a few added features that most advisors should know how to do themselves...but usually don't (…

> At medium levels of wealth (more than $1m and under $50m), you are likely unable to access good advice What the actual f... According to the "Global Wealth Databook 2021" by Credit Suisse, page 129, there are in the US: - $1-5M : 19.5M people ( - $5-10M : 3.2M people ( - $10-50M : 1.5M people (0.4%) And that is from one of the richest country in the world, with a very steep exponential wealth distribution. $1-50M i…

>$1-50M is _far_ from "medium wealth" by any stretch of the imagination.

There are 2 ways to interpret "at medium levels of wealth":

* A medium amount of money among the general population. This is the interpetation you're thinking of.

* A medium amount of money among wealthy people. So wealthy might mean $500k+, with the low end of wealthy meaning $500k-1M, and medium level of wealthy meaning $1M-5M. Below wealthy would be middle class. This may be the interpretation skippyboxedhero was thinking of.

Re: Ghostfolio: Open-source wealth management software

#133

Post by figmert »

andix wrote: post #43

I am using Portfolio Performance for a while now. Need to check how it compares. PP is easier to set up though, it's a plain old Java desktop application. https://www.portfolio-performance.info/en/ Edit: it works well for crypto too, you can track anything that has a count and a price.

[dead]

Re: Ghostfolio: Open-source wealth management software

#134

Post by halotrope »

xcdzvyn wrote: post #131
halotrope wrote: post #21

Ghostfolio is awesome! Sorry for the plug, we are doing something similar with markets.sh it's not open-source (yet) but we're giving you all the data of connected portfolios and bank accounts via api and it's free if you just want the data. Also we are investing a lot of time in asset matching and market data (even options are supported), something all the other tools we've tried fell short of (especially global sto…

I much much prefer markets.sh' UI to Ghostfolio's, honestly. I'd even call it particularly good. Looks like Tailwind, right? When you say "(yet)", are you referring just to the API code or everything? Because I'd love to use this if I could host it myself.

Thank you so much! Yeah, right now we keep the API as open as possible, we’re big fans of oss but it’s gonna take a while as the system runs on many databases and systems. Apart from the simple portfolio tracking, we are ingesting live data from global stocks, thousands of news per day and do clustering and machine learning and all kinds of fancy things on it.

I’d love to open source the dashboard first as it is probably useful to self-host and just feed with your own data. Let me know if you have any questions.

Re: Ghostfolio: Open-source wealth management software

#135

Post by berkes »

olejorgenb wrote: post #85
berkes wrote: post #66

Earlier quoted context omitted.

Yes, no. Yes, Ledger can do all those things. No, it doesn't do this "out of the box". I do most of these things. Simple, by adding meta-tags to my ledger. I'm just now working on consolidating on all my willy-nilly scripts and tools. And then plan to turn this into an actual "investment dashboard" ala ghostfolio but using the ledger as source. In the end, a plain-text-ledger is just a of database. And the ledger que…

Of course it's possible to implement these features on top of any system which stores the transactions... but I'm sure you agree that to a user it matters that these things are accessible without writing lots of willy-nilly scripts, and preferable not having to add such meta-tags manually when other sources have already categorized them. Thus I suspect there's space for more specialized solutions like Ghostfolio. Alt…

I entirely agree. And this is why I'm building use-focused, case-specific tools around ledger/beancount.

Re: Ghostfolio: Open-source wealth management software

#136

Post by berkes »

lannisterstark wrote: post #117
berkes wrote: post #66

Earlier quoted context omitted.

Yes, no. Yes, Ledger can do all those things. No, it doesn't do this "out of the box". I do most of these things. Simple, by adding meta-tags to my ledger. I'm just now working on consolidating on all my willy-nilly scripts and tools. And then plan to turn this into an actual "investment dashboard" ala ghostfolio but using the ledger as source. In the end, a plain-text-ledger is just a of database. And the ledger que…

I mean, "It's possible to do this via x amount of work" vs "Here, you can use this OSS/selfhosted version which will do it for you." Do you legitimately not see the appeal of the latter to many people?

I never said that I did not see the appeal. I'm not sure where you got that from.

Au contraire: I'm building my business around that exact problem: that ledger is potentially good at doing anything, but doesn't do it out of the box.

Re: Ghostfolio: Open-source wealth management software

#137

Post by berkes »

darau1 wrote: post #112
berkes wrote: post #67

Earlier quoted context omitted.

In fact, I'm working on something alike Ghostfolio but that uses ledger as database. It's very much early stage and mostly proof of concept and hacked together scripts. But I'm moving it to both "tabula" and "bullboard": https://github.com/berkes/bullboard-rs https://github.com/berkes/tabula Again: early. But tabula is my consolidation of random "beancount/ledger" stuff regarding running my small business and startup…

That's interesting. So, if I understand this thread at all, your projects may help me to "preserve" my "wealth", with ledger?

It won't "preserve" it: if you sell or buy at the wrong time and place, it won't prevent you. It's basically a way to visualize your portfolio: hows it doing, what are your allocations, how well are you keeping your strategy? do you need to rebalance?

Basically "bullboard" will be "yet another portfolio tracker/manager". Like so many out there (Ghostfolio, PortfolioDividendTracker etc), nothing new.

The only difference is that the source is your (existing) ledger/beancount file.

To be clear: it currently is a CLI application, but the goal is for it to be a web tool. Also selfhostable.

https://github.com/redstreet/fava_investor already exists in this space and is very similar: it's what I currently use. I don't like it, though. I dislike python for bookkeeping software and complex domain modelling. I dislike the UX of fava. And I prefer opinionated, focused software: call a spade a spade. Not "Assets", "Income" or "Transactions" but Stocks, ETFs, Bonds, Dividend, Sells, Buys etc.

Re: Ghostfolio: Open-source wealth management software

#138

Post by infinite8s »

vba616 wrote: post #127
multicast wrote: post #70

Earlier quoted context omitted.

"Real" wealth management has a lot more legal work behind it since a non trivial portion of wealth management are topics like inheritance and planing for the next generation. Also wealth management is more focused on wealth preservation than generating high returns, that is more the focus of asset management (e.g. hedge funds, private equity etc.). But since this piece of software is focused on the individual the ter…

>"Real" wealth management has a lot more legal work behind it This is just me, but if I had legal work and deep pockets, I'd hire a lawyer. >a majority of people think that when it comes to finance they can compete on an equal level with experts who do this every day >But if your skilled you surely save a ton of fees. If you are "focused on wealth preservation" rather than "generating high returns", what is the need…

> If I won the lottery, and I just sent, say, a $500M check to a regular discount broker and bought an index fund, is someone going to take it away from me? Are the wealth management divisions of every podunk bank and credit union there for a reason? Would I need to hire "protection"?

The market might take it away from you. Last year the S&P returned -20% - there goes $100M!

Re: Ghostfolio: Open-source wealth management software

#139

Post by throwaway2037 »

vba616 wrote: post #127
multicast wrote: post #70

Earlier quoted context omitted.

"Real" wealth management has a lot more legal work behind it since a non trivial portion of wealth management are topics like inheritance and planing for the next generation. Also wealth management is more focused on wealth preservation than generating high returns, that is more the focus of asset management (e.g. hedge funds, private equity etc.). But since this piece of software is focused on the individual the ter…

>"Real" wealth management has a lot more legal work behind it This is just me, but if I had legal work and deep pockets, I'd hire a lawyer. >a majority of people think that when it comes to finance they can compete on an equal level with experts who do this every day >But if your skilled you surely save a ton of fees. If you are "focused on wealth preservation" rather than "generating high returns", what is the need…

I agree. Most private money managers are not worth the cost: 75bps per year (or more) on managers balance. I recommend: Half your age in percent (30yrs old -> 15%) invested in 2yr US Treasury notes, plus remaining in low cost S&P 500 ETF. You will beat 99% of "wealth managers" after a decade, and 99.9% after two decades.

Re: Ghostfolio: Open-source wealth management software

#140

Post by throwaway2037 »

infinite8s wrote: post #138
vba616 wrote: post #127

Earlier quoted context omitted.

>"Real" wealth management has a lot more legal work behind it This is just me, but if I had legal work and deep pockets, I'd hire a lawyer. >a majority of people think that when it comes to finance they can compete on an equal level with experts who do this every day >But if your skilled you surely save a ton of fees. If you are "focused on wealth preservation" rather than "generating high returns", what is the need…

> If I won the lottery, and I just sent, say, a $500M check to a regular discount broker and bought an index fund, is someone going to take it away from me? Are the wealth management divisions of every podunk bank and credit union there for a reason? Would I need to hire "protection"? The market might take it away from you. Last year the S&P returned -20% - there goes $100M!

By this dumb reasoning of unrealised losses, you should never invest in any security (bond or stock) else the exact same scenario may happy. You are destined for the poor house without taking equity index risk in this generation.
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