Whenever I create something new for the site, I usually like to surprise everyone and roll it out live. This time, I’m going to jump the gun a bit about something new I am creating, and I’ve got a reason for doing so. The idea came to me because of this kind of chart that I’ve been seeing a lot lately:
That is to say, the illustration that just a tiny handful of stocks are doing ALL the heavy lifting. It is jaw-dropping to me that in the midst of the S&P 500, a mere seven (that’s 1.4%!!!) have provided a YTD return of 53% (which is a TRIPLE DIGIT annual run rate) whereas the other 493 have created a percentage return that can be roughly described as “Dick.”
I didn’t have any way to create my own special concoction of symbols, so I decided to create a new feature on the site called MetaSymbols which would allow you to create an entirely new financial instrument on your own. You could give it a symbol, describe it, and then create its component parts. You would even be able to “weight” symbols to your liking.
So, for instance, if I wanted to create a symbol call AI and have it consist of the most important artificial intelligence stocks, I could do so.
We have been hard at work on the back end of this system, and just today I was able to see charts for the first time. We are planning to roll it out fairly soon as a premium feature. At first, the symbols will be strictly defined by me, and chartable by Gold and Platinum members. We will then start the next version of the product, which will allow premium members to define their own symbols and, very importantly, share them with others.
What I’d like to know from you is if you are acquainted with any other site that lets you do what I’m describing. If so, I’d love to hear about it. I look forward to announcing MetaSymbols in the near future.
