I haven't answered a reader question on the blog for awhile and this just came in tonight:
I haven't had much time to visit your blog and apologize if you have talked about this recently and I missed it. I am a user of AAII Stock Investor Pro and although I do love it, I sometimes feel I am missing out on a few features that Zacks research wizard has. So my question is would you recommend Zacks Research Wizard over SI? Is it really worth $1400 more? I can't justify both (probably can't afford RW) and need to renew SI Pro soon.
It really depends on your style of trading. I like them both—but right now I prefer SI Pro for a few reasons:
1) Price—you can’t beat if for what it delivers
2) Built in screens (I really like the amount of data available on the included screens)
3) Familiarity—I’ve been using SI Pro since 2004 and I still like it a lot
However, I’d like to see SI Pro have some ability for testing without the cumbersome downloads of weekly data. I’d also like to be able to backtest ideas with it (AAII does it on their new stock screens so it’s not out of the question).
I like the speed and constant data updates that RW wizard has. I like the backtesting, but I am becoming less enthused about the results. It seems like whenever I pick a strategy that produces amazing returns, it quits working when I start tracking it. I really don’t know how to explain it, but it concerns me.
Another thing that I don’t like about Research Wizard backtesting is it creates way too many variables for me. I’ve developed some ideas that work, and the ability to quickly analyze other ideas too often causes me to question my own trading and really gets me off track. For me it’s best to narrow my focus and stick to my trading plan rather than trying to discover the next “golden ticket”.
So for now, I’d recommend that you save the money and stick with SI Pro.
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8 comments:
Another option is Zack's premium membership. It gives you access to their web based screener. The screener contains Zack's rank as a factor. Like RW, the screener is updated daily primarily with new earning estimates and broker ratings. Both Zacks products are more than just screeners, since you gain access to Zack's proprietary database. Earning estimate revisions are important in my approach, so Zacks has been my choice for three years and I've been very happy with it.
I think Zack's Premium is a fantastic value. I've found that the Zack's ranking doubles the performance of most portfolios that I track (using Zack's ranking of 1).
RW is great for the backtesting, period. Once you've backtested your heart out and settled on a screen, there's too many free/cheap screens out there to justify the RW cost.
My favorite is the MSN screener.
I used to have Zack's RW, and I am currently using SI Pro. The reason I didn't renew my Zack's RW subscription (besides the exorbitant price) was that I found the backtesting service unreliable. Unlike SI Pro, which installs fundamental data on your desktop, RW is accessed online. Problem is, their backtesting servers are notoriously overloaded. So you get your backtesting run ready, hit the button, and... get an error message. At that point, you have to reconfigure the backtest run, hit the button again, and... denied. Do that a few times, and it stops being fun. Also, I wasn't too impressed with Zack's data quality.
Does anyone know where I could find old stock investor pro cds or update files (pre-2003), as I'm looking to do analyses that go farther back than that.
Thanks,
Henry
Hai Henry,
I'm also looking for olde SIpro CDs.
I have some before 2003, but I am looking for the one from september 2002. Let me please know if you have that one. I would like to pay for it.
RW database is useless because they have survivor bias. So thats why you can never get the result in the future simular to your backtests results,
fransTrader
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