Top 10 iPhone Apps for Intelligent Investors
The advent of the iPhone has revolutionized mobile technology, and along with it, our lives. Don’t miss the chance to take advantage of the iPhone’s power to improve your investing success by downloading these useful apps:
1. Bloomberg. Bloomberg’s app gives more than just fresh and relevant news. You can also use it to browse quotes and graphs of stocks, indices, commodities, forex, futures, etc. If you are a serious investor and you need to be up-to-date on what’s happening in the markets, this app will definitely do a great job.
2. Stock Alerts. This is a really cool app for keeping track of the stocks in your interest list. This app alerts you whenever a stock reaches a certain price that you have set- through the convenience of your iPhone. You can use this app to alert you whenever a stock’s price reaches your buy or sell price, without getting yourself glued to a stock or portfolio monitor all the time.
3. FS Viewer. Use this app to quickly and easily find financial statements and ratios of the companies that you are considering investing in. What’s great about this app is the fact that it provides historical financial ratios of companies going back up to 6 years. Most free finance websites offer only historical financial statements, not ratios, so this app can really save you a lot of time when doing your research.
4. iTrade Stock Market Simulator. How will you know if your strategies or approach will work in the market? The only way to answer that is to test it, but testing with real money for beginners is going to cost money. So here’s a better way: get the itrade stock market simulator app and test your strategies with papermoney in real-time. This way, you don’t risk a dime when learning and testing strategies on real-time market data.
5. Analyst Rating Tracker. Stock analyst ratings are useful additions to an investor’s arsenal of analysis tools. Back when I was a prop trader, we’d make sure that any long positions we took should be priced under consensus target prices of analyst estimates, otherwise we won’t even place trades. The analyst rating tracker app does a great job at giving a quick and easy access to those ratings. These ratings are not perfect and cannot be relied upon just on their own, but combine that with other analysis tools and you’ll definitely improve your chances of investment success.
6. Financial Calculator. This is a neat app for performing complex financial calculations. It can handle bond valuations, cash flow analysis, net present value, amortizations, and even interest computations. If you want to estimate a company’s value, just plug in the data that is needed and you get your estimates almost instantaneously.
7. Yahoo Finance. If your focus is on US investing, the yahoo finance app might be a better choice because it’s more focused on the US markets. It’s got tons of features like news, stock screeners, quotes, charts, company financial statements, analyst ratings, etc. Although this app is comprehensive, researching for specific data may be a bit more tedious than using a specific app for specific data (i.e., analyst ratings tracker for analyst
8. StockTwits. Use this app to gauge what other investors (individual and professional) think about the stock that you’re following. It combs the twittersphere for tweets relevant to the stock that you want to look for. This app lets you chat with other investors, get custom financial news, and even look up charts and relevant videos.
9. Risk Manager - Stocks. This app helps out in quickly computing the number of shares that you need to buy or sell to be able to manage the risks that you are taking on. For example, you may want to limit your potential loss with a certain stock to only 2% of your portfolio size. In addition to that, you may want to get out of a stock if it goes down by 10% from your purchase price. Use the risk manager app to quickly and easily compute the number of shares to buy using these criteria and avoid unnecessary overexposure to a certain stock.
10. Economy. This app from Cascade Software provides data from major economic sources like the Federal Reserve, Department of Treasury, etc. to keep you updated on the economy’s pulse and direction. As we all know, most companies perform better when backed by a good economy, this is why investors who can “read” the economy have better chances of success. Go get this app and improve your “feel” for the economy fast and easy.
Keep up with the fast-paced markets with these powerful apps. They can really help you make accurate investment decisions faster and easier. Good luck and happy investing!