Book feature and new subscription plans

Dear All, Two main changes:

Book

You can now test portfolios-of-portfolios which we called it a “Book”. Unlike the “Live Portfolio” and “Portfolio Simulation” , a “Live Book” and a “Book Sim” are very different:

A Book Sim only looks at the performance data of it’s assets for the backtest, and rebalances by selling/buying portions of each asset. It never looks at individual positions, and generates “Portfolio Transactions”. You can also add any R2G as an asset since you will not see the positions.

A Live book will look at the current holdings of the assets to generate actual positions, so most of the statistic pages will be the same as a Live Portfolio. When rebalancing a Live book it’s important to first rebalance each asset. You can create a Book using R2G to which you are subscribed

Membership Plans

We’ve renamed “Individual” to “Screener”, but all entitlements remain the same.

There are now three new plans: Investor, Designer & Manager. Please see the Pricing Table for descriptions and comparisons. If you are logged in and click on HOME->PRICING you will see your old membership compared to the new ones. You can remain on the old one as long as you like, but once you change it , it will no longer be available.

The goal of the new membership plans was to create a lower entry level (“Investor”) for users that only want to follow pre-built models while still getting a “taste” of the many other tools. We also added a “Manager” level mostly geared to Professionals with much higher portfolio sizes.

As always , your feedback is appreciated.

Have a good weekend.

Marco

I am actually quite disappointed regarding the new membership structure.

Some time ago I found out I could not replace any of my existing R2G models without upgrading. I tried removing R2G models and adding new ones but was not allowed to do so. I was told at the time that the membership level would only allow one R2G model. The existing R2G models were “grandfathered in”.

So I upgraded to the professional membership. Now the rules of the game have changed. The lower membership level allows 6 R2G models while the professional membership still allows the same number (8).

Why is the lower membership now allowed 6 R2G models when before only 1 was allowed? Why am I not allowed to downgrade to the lower membership level? I can go to the manager level but is the same price as I was paying already for professional.

Looking at the various features per membership level, it appears that there is absolutely no point for anyone to have a professional membership. The manager level is superior in every way except for number of saved simulations which is a ridiculous number anyways.

My feeling is there is some “anti-Steve” maneuvering going on here.

Have a good day
Steve

Steve, we didn’t target you. Our mission for 10 years has been to make “Professional” tools affordable for individuals. R2G is all new and we are evolving and adapting to the market. We have to pay Compustat higher per/user fees for “Professionals”, meaning people using P123 not just for their own accounts, which is why downgrading is not allowed. It’s how the data industry works, and it’s not unfair.

Marco - the manager level seems reasonable and I converted to that. The timing of what you did with the R2G models makes me feel targeted.

Steve

Thank Marco!

Does anyone know if he slippage for the Book is over and above the slippage already calculated in the Sim? Do you enter slippage into both?

Edit: The slippage is probably just for the adjustment.

Thanks.

Jim

Hello,
In the feature listing for the different packages, can you expand on Stock page rank frequency? How is it defined and its impact. Right now I am at the Screener level and would like to see if going from 8 to one week will improve the returns in some way of my portfolios. Thank you.

Just tried it (book). This is way too cool! Thanks Marco and crew.

This feature is awesome! Thank you Marco and P123 staff!

This is a great feature, thanks! I tested “books” in excel several times, very time consuming. Now I can do it in P123 in seconds.

There seems to be a slight bug with Current Holdings for Book Sims. The book runs to the latest available date in all sims. Clicking current holdings seems to show incorrect data. But, if you go to historical and select the last day of the longest sim, the holdings seem correct.

There also appears to be a bug in the directory sidebar for book sims. When I click on unclassified (1) the s/w seems to think it is looking for live books, not sims and says there are none available even though there is a sim.

Steve

When a portfolio is disabled from the book, would it be possible to grey out (or delete) the corresponding table entries in the correlation table? The table is difficult to interpret when looking at the superfluous data. Would also like the same in the risk screen.

Steve

Marco:

Is there a bug in the book Sim module? When I try to use the Book Sim there is no option to change the date range (locked at Jan 1, 2013 to the present).
Is this a design limitation of Book? Or is it a bug? Or is it related to my subscription level.

Oh - found the answer - there is no bug or date limitation. The Book Sim automatically limits itself to the shortest date range of the “sim” assets that make up the Book.

It would be nice to be able to reduce the date range from within the Book Sim module in order to get a closer look at particular time periods. Of course, there is the workaround of rerunning one of the individual sims for the desired date range and then running the Book Sim. But that wastes your server resources and makes a more clicks for subscribers.

Brian

Brian, we’ll be adding a period tab so you can pick a specific date period within the current max/min available for active assets.

Steve, will have a fix soon for the unclassified book sim category bug. thanks

Great Feature, Thank you!!!

Marco,

Congratulations to you and your team on getting this done. I see a lot of happy people commenting. Me? Not so much. Too much limitation. I now have 6 ports I developed myself and 2 R2G ports with almost 7 figures invested. My live ports have real money in them and I’m looking for more systems to invest in. I have more money outside of 123 to bring in, probably more R2G’s since my own development efforts are running dry. I was looking forward to getting some help from this Book of Ports to manage it all. The dollar limitations and the number of assets is just not going to work. I’m guessing I’ll have at least 12 ports (assets) before I’m done. Your caption in the subscription area says it all. "Book (group of strategies managed as one). Sorry!

Sorry, double post.

Marco,

My book of sims done on sims looks accurate. A book of sims done on some of my live ports is unfortunately not correct (814% annualized return). A likely reason is that I have been increasing my position and adding cash to the ports.

The individual ports recognize that I am not a stock genius and do not have anything at all close to this return, sadly.

I’m probably missing something or perhaps book of sims is not meant for ports. Would add great value if I did not have to rebalance ports and book and then edit both. Would not upgrade for that but would if could aggregate live ports on the fly.

Thanks!

Jim

My book of sims looks pretty accurate too but I’m running into trouble trying to make it “Live”. When making a live version and adding the previously run sim to the live model I’m running into “Session Expired” block

Brad

Marco:

The Book is great.  Thanks for adding it!

Bill