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Changing "industry" descriptions for investments and getting rid of the "Unknown"

Unknown
Unknown Member
edited November 2018 in Investing (Windows)
I have over 20 investments (stocks, reits, etc.) with an "unknown" listed under the industry heading. How can I assign my own indusry? I'm trying to greatly improve upon my asset allocation model. Using Quicken2018 - windows

Comments

  • UKR
    UKR SuperUser ✭✭✭✭✭
    edited September 2018

    There's a "Download Asset Classes" function available.
    In Edit Security Details for an individual security there's a check box for that. It should have a checkmark.
    In the Security Detail view for a single security there's "Update" in the Menu Bar, with "Update Asset Classes" in the submenu. This allows you to download Asset Classes for all or selected securities.

    What I don't know is: Will this also update "Industry"?

    How about you give it a try and see ..

  • q_lurker
    q_lurker SuperUser ✭✭✭✭✭
    edited February 2018
    UKR said:

    There's a "Download Asset Classes" function available.
    In Edit Security Details for an individual security there's a check box for that. It should have a checkmark.
    In the Security Detail view for a single security there's "Update" in the Menu Bar, with "Update Asset Classes" in the submenu. This allows you to download Asset Classes for all or selected securities.

    What I don't know is: Will this also update "Industry"?

    How about you give it a try and see ..

    It will update history to the extent that the data supplier has an industry assigned. But beyond that information or lack thereof, there is nothing the user can do to assign an industry.

    Perhaps the Morningstar X-ray feature would be helpful if the user is using Premier or above.
  • Jim_Harman
    Jim_Harman SuperUser ✭✭✭✭✭
    edited November 2018
    Problems with letting Quicken download asset classes are that you may not agree with the classes it assigns, and you are limited to the built-in ones: Large cap, small cap, International, Domestic bonds, Global bonds, Cash, Other, and Unclassified. I generally disable the download and set the allocations myself.

    Morningstar's data is more detailed and generally more reliable, but the X-ray in Quicken ignores any securities that are not in Morningstar's database (401k stable value funds for example) and doesn't give you a way to specify the allocation to use for those securities or others where you may disagree with their assignments.

    Its analysis is generally more useful for stocks than for bonds or bond funds. For stocks and stock funds, it does break your holdings down by Sector (Communication Services, Energy, Industrials, Health care, etc) by world region, by Style (their 9 boxes) and by Type (High yield, distressed, cyclical, aggressive growth, etc).
    QWin Premier subscription
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