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TrackMyFolio

Make Investments based on Research, not borrowed conviction!

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Last updated: 14 May 2022 09:08 AM

Changed the Tagline!

The problem TrackMyFolio solves

With the huge inflow of retail participants in the markets in the last few years has made Indian equity markets more stable than before and the dependence on FIIs has been reducing ever since, this leading to Indian Markets outperforming the much mature Markets like US in the periods whenever Institutional Investors mobilized funds out of equity markets. The increased retail participation has no doubt made Indian equity market more powerful, but with this power comes the responsibility to protect the interests of retail investors. Although regulatory bodies have been introducing many policies, but I believe the real protection of retail investors can be done only through education.

Proposed Solution and Use Cases

TrackMyFolio is built to promote a culture of Analysis and Research Pre-Investment.
On TrackMyFolio users can:

  • Track the stocks they add to portfolio
  • View the recordings of concalls with management of the companies
  • Check updates on earnings of these companies
  • Engage in discussion with seasoned investors who have done remarkable research on those particular stocks
  • Follow the investors they idolize on public platforms and get updates about their portfolios
  • Connect with other people on the platform and peek into the list of stocks in their public portfolio

Another feature that will be added soon is to get a graphical summary of the earnings call of any stock as and when the transcript is released, working behind the scenes will be an AI engine preparing detailed grahical reports of the guidance given by the management.

Test Data Requirements from various stakeholders

To test and train the AI model I will be needing a good number of transcripts, so that I can verify the accuracy and the correctness of the graphical summary generated.

APIs requirements

To gauge whether the broader market liked a company's quarterly performance or not, APIs to access volume buildup or Put Call Ratio data of specific companies could be used.

Challenges I ran into

The biggest challenge was to source reliable information available freely on web to serve to the users, initially I started with web scraping to procure information, but upon checking the quality of results produce it was found that in many cases the information scraped didn't match with the information on exchange archives. To get over this problem, it was decided to only source information from reliable sources, and to implement this soultion I built a custom search engie that would only give results from a set of websites that are known to present reliable data. The Custom Search Engine can be accessed using Google APIs. Most of the information has been sourced using reliable APIs and this has been the biggest USP of the platform.

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