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Advisors are screening using multiple criteria, and they can add any of 4,000 different financial elements on any stock for evaluation. Others are looking at shifts in fundamental economic data--or embedding interesting charts in their blogs.
DRW Financial--a fee- only planning firm in Chattanooga, TN--is a former bond trader who has extensive experience using a Bloomberg terminal. Today, he uses his portfolio management experience to create stock and bond portfolios for clients, eschewing what he considers the high fees and lack of transparency he finds in actively- managed mutual funds. At his young firm, he can't afford to pay $2,000 a month for a Bloomberg terminal. "I'm logged into YCharts all day long," he says, referring to the cloud-based screening, economic data and charting tool that is 20% owned by Morningstar. (www.ycharts.com) "They have thousands of line items of data on every stock, and there's an easy export to Excel," Wattenbarger continues, "so you can do your own sorting and calculating to your own model. Everything is very graphical and intuitive."