From Beginners to Experts: The Best Stock Market Tools Available

Investors have a wealth of tools that weren’t available a few decades ago. The Internet has simplified all aspects of the investing process. However, finding reliable tools that fit an investor’s needs can be challenging, as each person’s portfolio is unique. Beginners, in particular, struggle with knowing which tools to use because they aren’t aware of what is available and how each tool will benefit them. 

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Furthermore, when people search for a daily stock market forecast tool, they may receive dated or unverifiable information. They could encounter a paywall or receive a technical data dump without context. Issues such as these have many people handing over the entire portfolio management to a professional. For those who want to try investing independently, even if it is only a tiny portion of their overall portfolio, the following tools will help. 

Forecasting Returns

People often use a compound interest calculator to forecast wealth creation over time. They enter their current investment portfolio balance and the monthly contribution amount, insert the average annual interest rate, and project a timeline. The calculator then provides a forecasted account balance. People often use this calculator to see how the ending balance changes based on their projected timeline or monthly contribution. 

Stocks and Funds Comparison Tools

Individuals who wish to find and compare stocks and funds may turn to Stockanalysis.com and TradingView.com. Sites such as these help them find investment opportunities that fulfill their requirements. Beginners usually use Stockanalysis.com as it is user-friendly. This site provides a stock comparison tool, an EFT screener, and a stock screener. TradingView.com focuses on stocks and technical data, which can overwhelm those new to investing. A watch list can be created on either site to improve the individual’s trading skills. They can test various investing parameters and see how they do before adjusting their investing strategy.

Dividend Stock Research

Investors may struggle to make sense of stock dividend data, and yields are frequently skewed. Investors need to see the actual dividend payment histories to do their own calculations and determine the yield. Marketbeat.com is helpful because it excludes non-recurring and special dividends when calculating the yield to ensure investors get a realistic yield value. Many sites don’t do this and end up with flawed income expectations. 

Educational Tools

The world’s best investors grow wealth effortlessly, or so it seems. How do they do so? Whale Wisdom shares information about the portfolios of these investors so that people can learn from them. The information provided by this site includes the shares held, how this number has changed in the past quarter, and the portfolio weighting. Investors who want to know more can investigate a specific stock to learn its basic metrics, including the market cap and P/E ratio. 

Corporate Earnings

Official company filings are found in the EDGAR database maintained by the SEC. Investors may search this database for a company’s quarterly and annual reports. Insider trade information, executive compensation, and shareholder proxy statements may also be found on the site. Other documents that may be accessed using this database include shareholder reports and registration statements. 

When investors know about the tools available, they can research opportunities to find those that meet their needs. These tools and resources allow them to learn more about investing without feeling overwhelmed or rushed. While the investor might choose to turn portfolio management over to a professional, knowing about different forecasting, researching, and screening methods will help them ensure this professional is managing their money correctly and helping them grow wealth.