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Top 10 iPhone apps for Stock Market Investors

1) MarketWatch


[iTunes]

The MarketWatch iPhone™ application delivers breaking markets and business news headlines, full-stories and real-time commentary throughout the day. MarketWatch editorial provides you with a hand picked list of the day’s most important stories, together with global market news, real-time quotes, and markets analysis and insights.

Features:

• Market data quote lookup with real time data
• Full feed of MarketWatch breaking news and analysis
• Text-to-Speech feature for Top Stories
• MarketWatch podcasts
• Innovative “Cruise Control” feature to allow for hands-free listening of Top Stories and podcasts
• Twitter section to follow MarketWatch columnists as they tweet breaking business news
• Customizable market data Watchlist
• Articles to Save and Share

2) Forbes Intelligent Investing


[iTunes]

Forbes presents the Intelligent Investing iPhone Application, a series of feature stories and video conversations with the business and investment world’s most respected minds. Watch Intelligent Investing With Steve Forbes, a video series of rare one-on-one interviews with financial luminaries at the famed Forbes Townhouse in New York City. Read Intelligent Investing articles and panel discussions as they focus on current investment topics and present exclusive editorial from investment strategists and forecasters that influence your financial climate. Take a chance and use your shake function to pick from a lottery of quotes and video clips of Steve Forbes himself. From investment philosophies to the state of the global economy, Intelligent Investing is your mobile access to the best minds in the business.
http://itunes.apple.com/us/app/forbes-intelligent-investing/id310628790?mt=8

3) AlertStocks


[iTunes]

[Website]

Great for Forex and Stock Traders

Stay updated on your Stock Prices by getting instant stock price alerts via push notifications. Breaking news that can impact your stock price
**Version 1.1 in is Review! Last Chance to get 2 Months of subscription with initial purchase.**

***Exclusive Benefits for Version 1.0 Users.****
- Unlimited number of stocks you can track
- Free Subscription period doubled from 4 weeks to 8 weeks.

Alert Features
- Price rises above your set price
- Price falls below your set price
- Intra Day Percentage Change more than your set percentage
- Pause your alerts at any time

4) BlackGold - Oil, Gas, Gold, and Silver Tracking


[iTunes]
Mobile Price-Watching for Crude Oil, Gold, Gas, Natural Gas, and Heating Oil on your iPhone or iPod!

Works great on iPad too!

With the fluctuations in recent years of the Stock and Futures Markets, it is necessary to keep informed of the current prices at all times. BlackGold for the iPhone and iPod Touch gives you mobile price-watching power in the palm of your hand. Near-realtime prices on your mobile device, 24/7.

Five price watch options available:
? Crude Oil - WTI - Current Price, including four charts.
? Gasoline - Regular, Mid, Premium, Diesel, E85. (US National Average provided by AAA)
? Gold - Troy Oz. - Current Price, including seven charts.
? Natural Gas - Current Price, including intraday chart.
? Heating Oil - Current Price, including intraday chart.
http://itunes.apple.com/us/app/black-gold-oil-gas-and-gold-price/id294444490?mt=8#

5) Bloomberg


[iTunes]

Bring the power of the most trusted source for financial information to your iPhone, along with tools to help you analyze the world's markets.

More than 280,000 professionals around the world trust Bloomberg to give accurate, timely information about the world's financial markets.

That source is now available to you on your iPhone or iPod Touch. Bloomberg offers news, stock quotes, company descriptions, market leaders/laggers, price charts, market trends analysis, and more.

You are also able to create a customized list of stocks that you want to follow from markets around the world.

6) FX360


[iTunes]

The FX360® iPhone app gives you the ability to track currency markets, related market analysis, and real-time, changing prices of currencies and other major markets, such as gold, U.S. indices, U.K .indices and oil prices. The currencies commentary is provided by Kathy Lien and Boris Schlossberg, GFT Directors of Currency Research, and their team of technical analysts.

Features:
• Commentary - Intraday updates from Kathy and Boris deliver professional outlooks and opinions as the market changes throughout the day and major articles that represent on-going themes in the global financial world, including economic policies and government decisions that could affect the markets and your trading decisions.

• Technical Analysis - Get basic and advanced technical analysis reports, and directional biases for the major currency pairs provided by FX360.com's dedicated team of professional analysts and researchers on your iPhone.

• Quoteboard and charting - Real-time quoteboard offers you key quotes for currencies, oil, gold as well as international equities so you always have the latest price information – much better than the delayed data indicative of other apps. Also includes real-time, price charts for oil and gold markets, which typically provide you with a leading indicator for the direction of other major markets

• Economic calendar – includes historical charts of major events, news and data – provided through our real-time calendar, which you can also download into a printable format.

• FX News Alerts Signup - one of the most unique aspects of FX360.com is the ability to get FX News Alerts – Sign up on your iPhone for breaking currency news and commentary and have it delivered right to your email or iPhone. This is available free of charge with the quality that you have grown accustomed to from Kathy and Boris.

Kathy Lien and Boris Schlossberg are both directors of currency research at GFT, worldwide leaders in online currency trading. Lien and Schlossberg are leading forex analyst and best-selling authors in market trading, and are often quoted on CNBC, Bloomberg, Wall Street Journal and other leading financial outlets.

7) DailyFinance


[iTunes]

Experience the most powerful iPhone application for investors and market followers. DailyFinance is the only free app with real-time quotes, tracking for multiple portfolios, customizable news from 3,000+ sources and professional-grade charting.

Free Real-Time Stock Quotes
Real-time stock quotes from BATS Exchange and 15-minute delayed quotes from NYSE, NASDAQ and AMEX.

Real-Time Financial News
Customize and track top business, company and sector news and dozens of other news topics from over 3,000 sources.

Web Tracking of Your iPhone Portfolios
Track and manage your iPhone portfolios on the web at
http://finance.aol.com/portfolios/myportfolios

Multiple Portfolios and Watchlists
Create and track up to 25 different portfolios and watchlists.

Powerful Charts
Use interactive charts to track the current and historical performance of investments and easily compare against peers and market benchmarks.

Global Markets, Gainers & Losers
Follow leading global market indicators as well as the individual securities moving the U.S. markets.

Auto Refreshing of Data
After initial screen load, stock price and market data automatically refreshes every 30 seconds; intraday charts and market news headlines refresh every 2 minutes.

8) StockCharts


[iTunes]

StockCharts is a program for technical stock chart analysis for Apple‘s iPhone. It can display line and candlestick charts and currently the following indicators:

• Simple Moving Average
• Exponential Moving Average
• Bollinger Bands
• Envelopes
• Volume
• MACD
• RSI
• Fast Stochastics
• Momentum
• ROC

It is also possible to switch between daily, weekly and monthly values.

The data can be retrieved either from Yahoo Finance (now with intraday updates, 20min delayed) or from Google Finance.

StockCharts can help you to analyse a stock's chart. You can configure the parameters and colors of all indicators and also add or remove them to/from the chart view. The chart and the indicators are displayed as a large, scrollable view.

You can configure how many years of historic data are downloaded by using the iPhone's Settings application.

The y axis can now be switched between linear or logarithmic scale.

9) E*TRADE Mobile


[iTunes]

Trade anytime, anywhere¹ with E*TRADE Mobile Pro for iPhone™ and iPod® touch.

E*TRADE Mobile Pro is one of the most powerful mobile trading applications ever. You get the same core functionality as your desktop, all fully synchronized with your online account in real time.

TRADE ANYTIME, ANYWHERE:

• Free streaming real-time quotes with integrated charts
• Breaking market news and commentary
• Easy stock & options trading with market, limit, and advanced orders
• Simplified account management from a single screen
• The same live watch lists and portfolios you set up online
• Quick cash transfers to and from any institution²
• And, with OS 3.0 you can set up stock price alerts from the quote details page, and receive push notifications for all Smart Alerts

10) Morningstar


[iTunes]

The latest Morningstar Mobile application offers enhanced features to help you track your investments and stay on top of the markets. Get our take on stocks, mutual funds, and exchange-traded funds—right on your iPhone or iPod Touch.

NEW! Morningstar Mobile now lets you:

• Sync to your Morningstar.com portfolios and watch lists
• Create and edit Morningstar.com watch lists
• View performance charts for stocks, funds, ETFs and Indexes
• Access the Morningstar Market Barometer and data on each of the Morningstar categories
• Track the market indexes with up-to-date news and listings of gainers, losers, and actives
• Log in for Premium Analyst Research
• Research Canadian securities

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Book Summary - Predictably Irrational: The Hidden Forces That Shape Our Decisions


Book Description: 

Irrational behaviour is a part of human nature, but as MIT professor Ariely has discovered in 20 years of researching behavioural economics, people tend to behave irrationally in a predictable fashion. Drawing on psychology and economics, behavioural economics can show us why cautious people make poor decisions about sex when aroused, why patients get greater relief from a more expensive drug over its cheaper counterpart and why honest people may steal office supplies or communal food, but not money. According to Ariely, our understanding of economics, now based on the assumption of a rational subject, should, in fact, be based on our systematic, unsurprising irrationality. Ariely argues that greater understanding of previously ignored or misunderstood forces (emotions, relativity and social norms) that influence our economic behaviour brings a variety of opportunities for re-examining individual motivation and consumer choice, as well as economic and educational policy. Ariely's intelligent, exuberant style and thought-provoking arguments make for a fascinating, eye-opening read. 
Copyright © Reed Business Information, a division of Reed Elsevier Inc. All rights reserved. 


My Review Rating: 4/5 Stars.

This is an insightful way of how our mind works and why we are often irrational in our decision making. This is useful if you are a consumer or working in the field of marketing as you will be able to learn some guidelines that might help you consume less or help your customers consume less.

Related Book Summary: LESSONS FROM YES! 50 SCIENTIFICALLY PROVEN WAYS TO BE PERSUASIVE


Book Summary

1.    The Truth About Relativity Why Everything Is Relative – Even When It Shouldn’t Be

a.     Choices are rarely made without a reference to other similar choices and their worth. When making a decision, we make our choices based on the array of choices presented. Decoy choices are choices inserted into the mix to “help” people choose a product.

b.     Groups of choices that are similar to each other are preferred over isolated choices that have hard to compare attributes.

c.     Relativity also plays to our emotions of contentment and creates the keeping up with the Jones syndrome. One can solve this by moving to a smaller circle where the objectives might be different or the less competitive.

2.    The Fallacy Of Supply And Demand – Why The Prices Of Pearls And Everything Else Is Up In The Air

a.     The chapter starts with the discovery of black pearls in Tahitian. An entrepreneur harvested the pearls and tried to sell them to the world. Initial efforts failed. However when the pearls were marketed with the finest gem stones, sales took off.

b.     The price anchor was set to a similar level as precious stones. Once we set a price to a product, our mind becomes used to the fact that it cost a certain amount. Any amount below will be considered cheap and any amount above will be considered expensive. This is regardless of the actual value of the product. This is called arbitrary coherence.

c.     An experiment involving suggesting initial prices by having participants write a number then bid for a product proved a correlation of the written number and the average bid price. Also when the participants were willing to pay a certain price of one product, their willingness to pay for other items in the same category was also similarly affected.

d.     Self herding is the habit formation of establishing a new price anchor and continuously reinforcing the anchor without thought. To create new anchors in a space where there are already anchors, the author suggests that one creates a product positioning that is highly differentiated.

e.     Thus since our initial anchors have far reaching consequences, we should consider the value when we purchase a first product.

3.    The Cost Of Zero Cost – Why We Often Pay Too Much When We Pay Nothing

a.     When product choices are placed together and a certain product is free, the free product creates a large relative value that distorts the choices. In a transaction, there is a return on investment. However once a product is free, there is no visible and direct loss created thus the return is infinity and thus the free choice is almost always the overwhelming choice.

4.    The Cost Of Social Norms – Why We Are Happy To Do Things But Not When We Are Paid To Do Them

a.     There are 2 worlds in which we exist. One is dictated by market norms and the other by social norms. We usually try to keep the 2 markets and the people that we interact with in each separate.

b.     When money enters into a transaction/request, it becomes a market and people will view the request relative to the market.

c.     People work equally hard when the norm is social compared to when the pay is market competitive. If the pay is reduced, the performance drops. However if the payment was not in monetary terms (gift), social norms take place. But when the price of the gift is mentioned, the market norms return. Hence we should keep the two entirely separate.

d.     Mentioning money also affects behaviour of people. When money was mentioned or suggested, people became more self reliant and less willing to ask for help. In other words, they were more rational and market oriented.

e.     When a market norm and social norm converges, the social norm is easily removed but is hard to get reestablish even when money is removed from the context.

f.     Social motivations are cheaper and more effective that monetary motivations and should be incorporated into policy making to help people make sound decisions.

5.    The Influence Of Arousal – Why Hot Is Much Hotter Than We Realise

 

a.     The experiment was first conducted when the student was in a normal state. Then the experiment was then conducted again when the student was in an aroused state. The results were that in an aroused state, our choices were less rational and could not be predicted by ourselves in a cold state.

b.     We should give ourselves time to cool down and analyze choices instead of making snap decisions.

6.    The Problem Of Procrastination And Self Control – Why We Can’t Make Ourselves Do What We Want To Do

 

a.     This chapter explores why it is so easy to lose sight of our goals and self control. We might not understand our own lack of self control. Commitments are necessary for keeping us on track. They could either be self proposed or imposed by another authority. There is reason to believe that commitments imposed by another authority might be more effective.

  7.    The High Price Of Ownership – Why We Overvalue What We Have

 

a.     In general the ownership of something causes the value of the thing to increase only in the owner’s perspective because it is easier to attach emotional experiences to the object. The owner also focuses more on the aspect of the loss of the object and its benefits.

 

b.     The more work we put into something, the more sense of ownership we get and thus higher satisfaction from using the product (IKEA effect). Ownership can also take hold partially causing virtual ownership where we imagine ourselves using the product before we own it.

8.    Keeping Doors Open – When Options Distract Us From Our Main Objective

 

a.     We feel compelled to keep as many choices available without due consideration to opportunity cost. When we are trying to keep our doors open, we also lose our focus on our current activities. The need to keep the choices open is due to our tendency towards loss aversion.

 

b.     When we narrow our choices to the final 2 choices, it is now even much harder to make a decision because the two are so similar. The author suggests making a decision and getting on with our lives.

  9.    The Effect Of Expectations – Why The Mind Gets What It Expects

 

a.     Expectations affect our experiences. If an expectation was set before using the product, our conclusion will likely be similar to the expectation. When the expectation was not set, the conclusion was made on the basis of the product. If the information supplied to manage the expectation was shown after the product was used, this information had little effect as the expectation would already have been set by the product experience.

 

10.  The Power Of Price – Why A 50-Cent Aspirin Can Do What A Penny Aspirin Can’t

a.     Placebos run on power of suggestion and they work because the person taking the medicine expects it to work. The expectation derives from a belief that the medicine works and the body becomes conditioned to the presence of the medicine and starts a physiological response.

b.     The more expensive the item, the stronger its placebo effect.

11.  The Context Of Our Character Part 1 – Why We Are Dishonest And What We Can Do About It

 

a.     There are 2 types of dishonesty. One is a highly criminal dishonesty where the decision making is based on how much they can steal. The second is committed by the average person where the object is often not money and less decision making is made.

 

b.     When given the opportunity, most honest people will cheat. Once tempted to cheat, the magnitude of cheating did not increase beyond a certain point.

 

c.     Honesty has an internal monitor that activates when the amount is large. When the amount is small, it is passive and the dishonest act does not get register on the virtue counter.

 

d.     The honesty monitor can be activated in certain ways. One could put up a sign reminding a person of honesty or a mirror for self reflection. All these ways helped in bringing up the contemplation of the internal moral benchmark.

  12.  The Context Of Our Character, Part 2 – Why Dealing With Cash Makes Us Honest

 

a.     When the object of dishonesty is cash, we are very unlikely to commit the dishonest act even though it might be a small amount. When the object is not cash but a product of similar value, we are inclined to commit the dishonest act. When cash is a step removed from our dishonest act, our dishonest rate goes up.

  13.  Beer And Free Lunches – What Is Behavioural Economics And Where Are The Free Lunches

 

a.     We should base our decision making on how we really behave instead of how we are modelled to behave in classical economic theory.

 

b.     We are far off from really understanding ourselves and we underestimate the external influences to our decision making.

 

c.     PS: if you want to participate in this journey, log on to www.predicatblyirrational.com

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