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Question #4: What Is a Stock or Mutual Fund Screen?

Finding companies with track records that make them worth studying is a challenge. You can use the Internet and PC-based stock or mutual fund screening tools to whittle down the universe of stock to a manageable few candidates. You can then analyze your short list of stocks for gems that may bring you above-average returns.

Screens allow you to ask questions about stocks that were too hard to answer without computerized databases. Stock screens can help you answer these questions.

The Internet provides a variety of stock screens. Some are easy-to-use, and others are more complex. The more advanced stock screens require some learning time. Web-based stock screens may require between two and 30 variables. Their computerized stock databases can include anywhere from 1,100 stocks to more than 9,000 stocks. Additionally, some computerized stock databases are updated daily, weekly, or monthly. The stock screen that is best is the one that includes your personal investment criteria.

A Few Examples of Online Screens:

Here are a few examples of stock screens available on the Internet:

* Market Guide's NetScreen http://www.marketguide.com  allows you to screen for stocks, using any of 20 variables. At the Homepage just click on the Screening tab. Market Guide's NetScreen features comparisons of variables, user-defined variables, comparison of variables to a constant, use of a variable more than once, and use of operators (greater than, less than, equals, and so on) The database is updated weekly. The stock screen was started in September 1997and is in beta testing. You can view screen results of up to 200 companies.

* IQ Net Basic Stock Scan http://www.iqc.com/scan  uses less than ten variables to screen stocks. Stock data is updated daily, about two and a half hours after the close of the U.S. markets. Using this Web site is free, and the company also has a more advanced product called IQ Suite. The monthly subscription fee for IQ Suite is $18.95 with a free one-month trial.

* MSN Investor http://investor.msn.com  has a stock screen called Investment Finder that searches 8,000 companies to find securities that meet your specific criteria. The program uses dozens of variable combinations. The monthly subscription fee is $9.95 with a free one-month trial.

* Stock Tools Database Query http://www.stocktools.com/asp/query uses less than ten variables and is easy to use. Screen results can be highlighted and pasted into Excel spreadsheets (Office 97 and newer versions).

* Reuters  http://www.reuters.com offers a stock screen with 12 basic variables that screen more than 9,000 stocks. The service is free of charge but requires your free registration. To use the advanced stock screen, you need to be a subscriber. Subscriptions are based on the number of reports you use per year. Rates start at $55 for 25 of any combination of three reports. See the Web site for details.

 


                                                              

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Last modified: June 13, 2008