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Posted by John Gregory on May 21, 2006, 12:46 pm
Please log in for more thread options Thanks, John. I appreciate the overview.
>> Thanks,
>> John. I thought of that but decided to wait to hear from someone with
>> more experience with this than I. I've followed your instruction and the
>> record was able to be changed correctly. It looks like all is well now;
>> there were no transaction. I do have another question arising from this
>> incident. The shares I transferred to that broker (BMY) were held by the
>> company I'm invested in. I'm holding a number of shares myself in a lock
>> box. I simply wanted a vehicle to move quickly in the event I chose to do
>> so. The question now arises, if I DON'T connect to that brokerage when I
>> update my portfolio through the Quicken link as I do daily, will Quicken
>> still "look at and update" the stocks held in my Scottrade account? I've
>> got BMY in the account I set up years ago to track the investments
>> (STOCKS) and now I have some BMY in Socttrade as well.
>>
>> I get the impression that Quicken will update all investment accounts no
>> mater where they are using the most recent stock price from the source
>> they use but when a client chooses to download separately from any online
>> brokerage, that will overwrite what was done (regarding the price of a
>> given stock) by Quicken. There shouldn't be a difference but there could
>> be; delays created by update times perhaps.... perhaps the brokers'
>> server was down... I'm just trying to make sure I understand how the
>> information is flowing into and out of these investment accounts.
>
> I'm not sure I can give you a totally satisfactory answer (I used to think
> I knew exactly how the price updates worked, but I am not so sure
> anymore), but maybe I can help a bit.
>
> There can be only one price in Quicken for a given security (as determined
> by ticker symbol, I believe) for a given date. Those prices are stored in
> the Quicken price history file (QDATA.qph, where QDATA is the name of your
> Quicken data). There are several ways that price can be entered/modified
> in Quicken. The single price for a given security for a specific date is
> applied to that security no matter in which Quicken account or accounts
> that security is held.
>
> If there is no price in the price history when you enter (or Accept) an
> investment transaction for a security, Quicken will update the price
> history with the price/share in the transaction.
>
> Prices can also be downloaded independently of account downloads. Quicken
> accesses two sources for price downloads; one for "current" prices and one
> for historical prices. You can download from those sources anytime you
> want, they are not associated with any brokerage, so you don't need to be
> downloading to any Quicken account to get those prices. I believe that if
> you have a price in your price history that came from a transaction, a
> downloaded price will overwrite it. Some prices are not available at all
> from those sources: non-publicly traded securities, and, I think, some
> securities traded on foreign exchanges.
>
> It is also possible for fi's to download prices when you download
> transactions to your Quicken accounts; the fi's can download dummy
> transactions for securities (useful if the security is not publicly
> traded, so unavailable from Quicken's normal price sources); and/or they
> can put prices in the holdings section of a download. I don't know what
> conditions must exist for Quicken to use prices from the holdings
> downloaded, nor whether or when, those prices would override existing
> prices. (I happily note that I now get prices for the bonds I own
> whenever I download from the fi where those bonds are held).
>
> Lastly, you can manually add, or edit, any price in your price history
> file anytime you like ... though I believe that a Quicken price history
> download can override manually entered prices (assuming the historical
> price download has a price for the date in question ... the older the
> price, the less likely the historical price download will have a price for
> that date). Haven't checked this out for a while, so it's possible I'm
> wrong, and possible that the treatment has changed since I did test it
> long ago.
>
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