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I have been trying out the TakeStock tool for sometime.
So far I searched many stocks using TakeStock and all of the results are negative:
"This company appears not to meet one or more of your quality requirements at this time."
This seems to be a standard response for this tool. Because I never got any other positive response.
I wonder what kind of stock would be satisfactory for this tool to return a positive response?
Any kind of suggestions or recommendation as to how to utilize this tool effectively would be appreciated.
Thanks.
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Rank: Administration
Posts: 248
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Many of the companies I have run through TakeStock have the same problem. They do not meet one or more quality standards. There is a list of stocks that do meet the standards. If you go to the Data & Research tab there is a link for Roster of Quality Companies. All of these companies meet the quality standards. They may be above the suggested Buy price but they do meet the quality standards.
Russell Malley
StockCentral Community Leader
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Rank: Advanced Member
Posts: 84
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I have used Take Stock and find it to be very restrictive in your forecast and I found the Judgement tab not to be very user friendly when I wanted to change the setting. I find that with Take Stock they are trying to Low Ball the buy price. I finally created my own Take Stock Spreadsheet so I can do my own judgement.
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Rank: Administration
Posts: 248
Thanks: 3 times
Was thanked: 50 time(s) in 44 post(s)
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The goal for Take Stock is to be an aid to find quality companies at a reasonable price. From my reading and personal experience it is often the reasonable price part that trips up an investor. Even Warren Buffet confesses to having paid a bit too much for an investment. Take Stock is trying to give you a large margin of error when you buy. It is not alone in this. Today, I was part of a presentation for Money Smart Week at a public library. As part of the presentation we talked about the use of Morning Star reports. An audience member asked why the recommended buy price was so much lower than the fair value price on the report. My response was it gives investors a nice margin of error by buying when the stock is below its fair value price. In this case the buy price was 42 on a fair value price of 60. So they are looking for a 30% discount from fair value as a buy price. I tend not to use Morning Star as much as Value Line but this 30% discount from their fair value price fit with my past experience for Morning Star buy price recommendations.
Take Stock does use more preset value indicators. A spreadsheet of your own is a nice way to allow you to adjust the judgement to your own standards. I personally like ToolKit6. It is less work and I am quite familiar with the software. The new online SSG Plus has also improved to where it is similar to ToolKit6. The judgement calls in these products are enough for me to personalize the quality standards. The SSG Plus also has a nice feature in that it aggregates opinion from saved SSGs and lets all users know what companies are being studied the most and using a color coding system ranks the best according to the aggregated judgement of those studying the stock. I have used this feature to get new ideas of companies to study.
Russell Malley
StockCentral Community leader
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Rank: Advanced Member
Posts: 84
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I like Take Stock. Maybe you could make it more user friendly like Toolkit6 where you can change the the setting more easily. Like the PE, Earning, Low and High Price, Growth forecast, et cetra in the screen where you are working. I find the Judgement Wizard and the Judgement Tabs not to be very user friendly.
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Rank: Administration
Posts: 258
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Hi,
When you mention changing the setting, do you mean adjusting when certain years of data are or aren't counted, or did you mean something else?
-Sean
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Rank: Advanced Member
Posts: 84
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I was wanting Take Stock to be more user friendly like Toolkit6 where you can click on the Yellow boxes and Green boxes and make the change you want. Such as PE, Earnings, Price High and Low, Future Growth on Sales and Earnings.
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