Portfolio Monkey is an investments tracking and portfolio management site for self-guided investors. The site focuses not on individual buys and sells, but on management of an overall portfolio that’s healthy and growing. Through analytic tools, an easy interface, and the innovative ability to post your stock tickers online and track adjustments in real-time, the site does have the setup to provide optimal investment strategies.
Of course, this means you’re entire investment portfolio is now posted on a website. It’s secure, of course, but it’s still there and online. From another perspective, this isn’t such a bad thing since most of us who use online investment tools or firms like TDAmeritrade are already online with our investments anyway.
Despite it’s goofy name, which does little to inspire confidence, Portfolio Monkey actually has some great tools that any investor will find useful. Especially if you prefer a “big picture” approach to your investing rather than the one-off “get-rich-quick” style investing many investment sites seem to prefer.
Rather than looking at just your stock in Ford, say, you could include that in a portfolio that has stock in IBM, Sun Microsystems, BP&E, and Conagra Foods. In this way, you can look at your entire portfolio at once to see how it’s performing overall and then look at individuals (or “sectors”–smaller groups of the whole that you define) and see how they’re performing now and how their performance has been in the past.
This allows for much more intuitive and useful investment strategy and planning. All of this is on a great layout and design that isn’t so busy it’s becoming a CNN new screen during the lunch hour. The site is easily navigated and quickly understood by even the most novice investor and the tools can be customized enough that even those who are hard-core Webophiles will find it handy.