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Yahoo Finance - Friend or Foe? (Reply to this comment)
by johnatmls
Please remember that despite all the remarkable things that happen at the finance and investment portals no one seems to talk about these relevant facts. First Etrade.com would be the college course in finance while Yahoo.com is just a little better than AOL, which was so eloquently described as the Internet on training wheels. Etrade.com caters to the financially sophisticated and would never allow the financial predators who prey on the financially unsophisticated. Despite recruiting the two top financial analysts who I consider credible and knowledgeable and accurate, the advertisers are the typical yahoo caliber of advertisers out to fleece the consumers. One commentary was about how good the portal is. I would have to disagree, I believe that it lacks the value that e-trade offers, and is preying on the less sophisticated investors by allowing the more predatory financial services companies to rent their real estate.
There is another area where it also lacks. I have read and seen very little on this matter and have read a great deal. I have been told the lack of coverage on this is no accident. That Martha is being fed to the Media Sharks to distract them from the successful investigation and resolution of the most serious financial scandals in out nation’s history. The first involves the nations largest super bank. The companies involved paid 1.3 billion dollars in fines. It was real insider trading, it was not the SEC, but Elliot Spitzer, the New York attorney general who broke, investigated, and resolved the case.
Last year Elliot Spitzer cracked the biggest case in out nations history while the SEC failed to do it's job and cost American investors billions of dollars. Statistically over 85% of the Mutual Funds are guilty of mismanagement, and probably several varieties of crimes including fraud and theft amounting to many billions of dollars.
Where is the media who is so quick to try and convict Martha who never stole a dime from her stockholders, and at most made $30,000 from one isolated illegal transaction? Why are they ignoring the 85% of Mutual Funds that can't outperform the index funds because they embezzling the shareholders equity through allowing institutional investors to trade ahead creating transaction fees which can be charged against the equity of their shareholders. Insider trading in it's purest form. Billions in equity may have been illegally taken and no one really seems to care.
Here is a link to some of the violations of Citigroup and Solomon, Smith, Barney.
http://www.nyse.com/pdfs/03-072.pdf
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Mar 26 '04
5:19 am PST
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I'll have to check it myself (Reply to this comment)
by adonna
But, if it has the same, or a similar TOS as the other Yahoo offerings, I'd be reluctant to use it. I don't mind some services having access to my information in some respects, even having rights to some of my information, but when it comes to financial information, I prefer to play it closer to the vest, so to speak.
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Sep 04 '01
1:42 pm PDT
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With all due respect (Reply to this comment)
by Saxguy
I find Morningstar's free online portfolio to be FAR superior to Yahoo. Among the things Morningstar does better are:
1. Ability to evaluate a portfolio of individual securities, funds or BOTH across industry types (cyclicals,technology) and size (small value). Yahoo has nothing.
2. Automatically updates portfolio for announced stock dividends, splits and spin-offs. Yahoo's wretched handling of the Raytheon recapitalization
(more than a week) was what drove me away.
3. It's much easier to enter subsequent purchases or sells of a stock. Morningstar can perform the calculations on multiple purchases and sales. Yahoo requires that the user average the cost calculations, then enter them.
4. Superior analysis available on mutual funds
5. Portfolio input - Morningstar was able to automatically input the Yahoo portfolio.
The only thing I've found that Yahoo does better than Morningstar is the ability to enter high and low limits for notification. Morningstar has no ability to do that. So, I track my goal prices on Yahoo.
Yahoo's pretty good. No question. But, for me, Morningstar is FAR better.
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Aug 31 '01
9:40 pm PDT
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