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Posted by Jeff on March 5, 2007, 12:25 pm
Please log in for more thread options John Pollard wrote:
> Jeff wrote:
>> Jeff wrote:
>>> In Q Deluxe 2006, is there a way to add new Asset
>>> Classes (multiCap, Real Estate, Emerging markets, etc.)
>>> in addition to the 5-6 preset in Quicken? If so, How?
>>>
>>> I know you can add Asset "types" but cannot find a way
>>> to add Asset Classes in Quicken.
>>>
>>> Jeff
>>
>> In case this helps someone else, this is what I decided
>> is the best way to use Quicken, at least for me.
>>
>> 1. It is best to leave the built in Quicken Asset Classes
>> and use them as set up by Q despite their obvious
>> deficiencies and limitations. This way other things like
>> the Asset allocations do not break. I enter my own class
>> choices when I disagree with Q (too many "others").
>> 2. Since there are no "sub-class" capability in Quicken,
>> I plan to use "goal" and "type" for these purposes.
>>
>> 3. In Quicken's Investment "Type" I will use
>> a) in the case of stocks - ST followed by the Morningstar
>> "styleBox" classification (High Yield, Distressed, Hard
>> Asset, Cyclical, Slow Growth, Classic Growth, Aggressive
>> Growth and Speculative Growth). b) For others, I will include
>> items like Mutual Fund,
>> Bond, Market Index, US Treasury, Other, etc.
>>
>> 4. In Quicken's Investment "Goal" I will use
>> Morningstar's "Style Box" which it bases on a grid that
>> includes Size, Growth, Value, Emerging Markets, Global,
>> Fixed Income, REIT, etc.
>> This leaves the classification into market "sectors"
>> (technology, etc.) unaddressed but that would seem to be
>> too much for Quicken to handle as it is presently
>> structured.
>> I'm no financial guru so this may not be the best way to
>> deal with it but it is the best I came up with for the
>> short term. Does this sound reasonable as far as
>> producing meaningful reports? Other ideas and suggestions
>> would be very welcome.
>
> I suggest some caution in the use of Security Types: certain
> Quicken types have built in meaning to Quicken.
>
> For example: on the Portfolio tab, there are column choices for
> "Morningstar Rating", "Morningstar Risk", and "Morningstar
> Return". Only securities with a Security Type of "Mutual Fund"
> will display values in those Morningstar colums.
>
> And the key is not the text that makes up the Security Type: the
> key is the position in the original list of Security Types. You
> can change the name of "Mutual Fund" to "%%%%" and every
> security with a type of "%%%%" will still show Morningstar
> values on the Portfolio tab. But change the Type for a true
> Mutual Fund to "Stock", or "Bond", or to a new Security Type -
> one not present in the basic Quicken list of Security Types
> (even if you named the new type "Mutual Fund" - after renaming
> the original "Mutual Fund") - and that security will no longer
> show Morningstar values.
>
> There may be other such limitations on Security Type, but I
> can't think of them at the moment.
Thank you very much. That is very useful information. I will include that
in my thinking and planning.
> For example: on the Portfolio tab, there are column choices for
> "Morningstar Rating", "Morningstar Risk", and "Morningstar
> Return". Only securities with a Security Type of "Mutual Fund"
> will display values in those Morningstar colums.
Question: Where does Q get the data for those Morningstar columns? Do I have
to tell Q to download them or do they come from the broker (Smith Barney,
Merrill Lynch) when I download transactions?
Thanks for the help.
Jeff
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