[HN Gopher] Ghostfolio: Open-source wealth management software
___________________________________________________________________
Ghostfolio: Open-source wealth management software
Author : falkaer
Score : 295 points
Date : 2023-08-31 14:15 UTC (8 hours ago)
(HTM) web link (ghostfol.io)
(TXT) w3m dump (ghostfol.io)
| mr-karan wrote:
| Looks nice. The comparison with S&P500/similar Index funds is an
| important metric to track. I'd also built a tool
| https://monkeybeat.market/ which demonstrates a similar concept.
|
| I've been exploring such projects off late myself. I found
| https://github.com/ananthakumaran/paisa to be a really clean and
| well implemented project on similar lines. It already handles a
| bunch of asset classes familiar to the country I'm residing in
| which is tempting me to give it a shot sometime soon!
| jollyjerry wrote:
| I like focusing on DIY-ers and having the web UI for
| visualizations. Makes sense that someone who would take the
| time to set things up would want increased flexibility over a
| spreadsheet.
| [deleted]
| skeeter2020 wrote:
| "saying no to spreadsheets in 2023"
|
| I just don't get this sentiment. Nothing lets me model free-form
| questions as quickly, easily and effectively as opening up Excel.
| I get there are better tools for specialized or defined problems,
| but the spreadsheet is still my go-to general purpose tool.
| tonfreed wrote:
| The first 6 years of my career was working on data heavy
| applications. The statisticians on staff all used Excel to
| prototype their models. It's a great tool
| tmpX7dMeXU wrote:
| Petulant NIH syndrome.
| mcgeez wrote:
| Does this retrieve data from your accounts? If so, what does it
| use to do that? Plaid?
|
| I love projects like these exists, but not being able to download
| the data automatically from my accounts was a dealbreaker for
| projects like GNUCash.
| MezzoDelCammin wrote:
| And have You managed do somehow automatize it in the end?
| datavirtue wrote:
| Had trouble hitting back on the browser. Major peave.
|
| Is this able to plot different Roth + 401k strategies to maximize
| tax advantages and returns? Also figuring in your small business
| activity and write-offs? Big picture.
|
| I've been watching YouTube videos explaining various strategies
| and ways to bank yourself. Totally pissed me off that no one told
| me all of this before. My lack of knowledge has really hosed my
| finances bad and I was the person that would help coworkers
| figure all this stuff out. I found a lot of people just leaving
| their money in money market funds in their matched 401 and they
| were very apprehensive about doing anything. Even saw a trained
| broker do this.
|
| People are leaving a lot of wealth on the table because they
| don't know the laws and how they can get rich moving their money
| around and they will not go to advisors for various
| reasons,again, mostly out of ignorance. I hear advisors often
| don't know these laws or fail to tell people.
|
| I had no idea you could get a solo 401k and completely self-
| direct the investments (I.e put the money into your business or a
| friends). Searched Fidelity and was able to dig up the PDF forms.
|
| I always thought it was evil to borrow from your 401k,and indeed
| every document you find on this throws up scary words and harsh
| language and intermixes the topic with withdrawals. Powerful
| source of funds that people avoid out of fear and ignorance.
|
| I'm not concerned with watching balances but would like something
| that can present scenarios for various vehicles and suggest
| different courses of action.
|
| I want to start a small business, what is the best way for me to
| fund that without risking to much or getting hosed on taxes...
| halotrope wrote:
| Ghostfolio is awesome! Sorry for the plug, we are doing something
| similar with markets.sh
|
| it's not open-source (yet) but we're giving you all the data of
| connected portfolios and bank accounts via api and it's free if
| you just want the data. Also we are investing a lot of time in
| asset matching and market data (even options are supported),
| something all the other tools we've tried fell short of
| (especially global stocks and multi currency accounts).
| wing-_-nuts wrote:
| Call me old fashioned but I just add everything under 'other
| accounts' on vanguard, and call it a day. It's close enough for
| my taste. I imagine other brokerages offer this feature too and
| vanguard has pretty much the worst reputation for ux out there.
| systemvoltage wrote:
| Yeah, Schwab can track other accounts from Fidelity, Vanguard,
| etc.
|
| I'm probably a minority but I don't micromanage my wealth.
| General account level information is good enough. I also do not
| trust wealth managers, usually their advice is terrible. Schwab
| automatically assigns a person on your account after a certain
| wealth threshold. They call me occasionally to make sure I'm
| aware of the risks which of course I am.
| mritchie712 wrote:
| Their advice isn't necessarily terrible, it's just strongly
| biased towards them making a buck off you.
| [deleted]
| otoburb wrote:
| The GitHub link is: https://github.com/ghostfolio/ghostfolio
|
| The premium hosted edition of this service isn't inspiring
| confidence if their front page, presumably residing within the
| same cloud infrastructure, can't handle the HN hug of death.
|
| Operational issues aside, I love seeing open source self-hosted
| breaking into retail wealth management. Right now, it seems
| everybody I speak to that isn't a professional or institutional
| investor defaults to a frankenstien combination of spreadsheets
| and/or web frontends exposed by banks and 'standard' wealth
| management sites like Wealthfront/Bettermint.
| [deleted]
| jollyjerry wrote:
| Curious to hear what you're looking for from a wealth
| management product.
|
| With banking / brokerage platforms like Alpaca, it's possible
| to create an open source roboadvisor, but I'm not sure who the
| market would be. Someone who is interested in algorithmic
| trading would go directly access the API's, and someone who
| wants a hands off experience could choose from existing
| products, or get bundled services from a big bank.
|
| I'm squarely in the frankenstein of spreadsheets, but also made
| a mobile frontend in https://jch.app The people I've talked to
| who use spreadsheets do it because it's fun.
| buzer wrote:
| One thing that I would like to see is tax impact analysis
| though this is naturally very country-specific.
|
| For example I would like to calculate the impact of wash sale
| or seeing the tax impact for selling from certain lot (in
| terms of short/long term taxes). And if you did these what
| would your tax impact look like if you sold things at
| expected mark growth rate (or certain value you set).
| mushufasa wrote:
| Yes I've done a lot of customer discovery interviews in this
| space, and what resonates is a quote: "People like spending
| their money, not spending time with it."
|
| Outside of people who money manage for a living, most
| analysis tools seem to fit into a "low frequency, low pain"
| problem for individuals in the "retail" segment. UHNW have so
| many assets they need tailored help. And people with huge
| pain in debt don't have much time, or lack the wherewithal to
| manage spreadsheets or analysis apps.
| jollyjerry wrote:
| Ya the people I talked to that enjoyed tinkering were FIRE
| enthusiasts or bogleheads. But that felt more like
| entertainment and community rather than looking for a
| solution to a specific problem.
|
| I talked with small financial advisory firms (1-3 advisors)
| to see if there were some backend tools to help them with
| client work. There's some initial data gathering and entry,
| but the value is the coaching and psychology rather than
| the hard numbers.
| mushufasa wrote:
| Yes I think that is very true about advisory. In the
| retail space a lot of the value prop for an advisor seems
| similar to a personal trainer -- someone to keep you
| accountable. At the "more money, more problems" level,
| advisors actually do become busy executing specific tasks
| -- monitoring and trading multiple accounts, negotiation
| among family members, real estate agents, or PE firms...
| -- tech is empowering advisors to do more rather than
| replacing them.
| jollyjerry wrote:
| I like Arta's pitch as a "digital family office" that
| handles more than just investments. Managing investments
| is still table stakes, but they also throw in estate
| planning and other offerings that a traditional financial
| advisor would offer.
|
| I tried Titan a while back and found that less compelling
| as a "hedge fund / active management roboadvisor". It
| didn't seem to differentiate sufficiently from the
| passive roboadvisors or what traditional wealth
| management could offer.
| k__ wrote:
| lol,
|
| Is it "a thing" that you post your stuff in Reddit, Dev.to, and a
| random "Awesome" repo on GitHub and then use that as "social
| proof"?
|
| _" Seems legit." - Some guy on Yelp_
| ra7 wrote:
| How does this compare to Beancount + Fava?
| mcshicks wrote:
| I very much wondered the same thing. I've had a couple of
| occasions where I really wanted a numerical answer to some
| finance questions, like for instance keeping an IRA vs paying
| taxes and converting to Roth. And I want it to take into
| account my tax burden, how much cash I have available, etc. The
| simplest way for me to do it was python scripts and Beancount +
| Fava. I don't even try and use it for keeping track of my
| finances, I use quicken for the simple reason that I know my
| spouse can use it as well. I didn't see "tax planning" on the
| features for Ghostfolio, this seems so very basic to me that I
| couldn't consider using it. I understand why in a way, there
| are so many situations. Of course if I only have to model my
| particular situation it's much simpler to just write a simple
| model in python.
| xur17 wrote:
| Very neat, excited to take a look, and especially excited that it
| is self hostable / open source. I've tried a number of services
| like this, and always end up back on a spreadsheet because:
|
| 1. I hate giving my data to a third party
|
| 2. There always ends up being some limitation that forces me to
| exclude part of my assets, doesn't let me handle something the
| way I wish, etc
| yieldcrv wrote:
| Yeah I also want an offline portfolio tracker
|
| Offline taxes
|
| guess there's not enough money in that
| Aulig wrote:
| You could check out portfolio performance for an offline,
| open source portfolio tracker.
| matthewtse wrote:
| Yes same! I've always wanted some "simpler" net worth tracker,
| still on a spreadsheet at this point.
|
| I never liked the big heavy ones with all the bells/whistle
| integrations that want your password so they can log directly
| into your financial accounts. And the integration would always
| break, causing my net worth to swing by double digit percentage
| points. I ended up spending more time nursing the integration
| than actually watching my net worth.
| jollyjerry wrote:
| I expanded my spreadsheet into a webapp https://jch.app. My
| original thinking was to avoid broken bank syncing, but one
| problem I still have is how to include assets that aren't
| publicly listed. For example, have funds in a retirement
| account that's specific to that institution and can't fetch
| updated prices. Currently getting around that by using a
| similar target date fund as a proxy for the price.
| reidjs wrote:
| Have you dabbled with plain text accounting systems at all?
| They seem like the next step after spreadsheets because ease
| of version control and pipelines to/from.
| reedf1 wrote:
| What is the market data source (is there one?)
| marcopicentini wrote:
| What tool did you use to crete the promo video?
| ochoseis wrote:
| Two things I've learned after 15 years of working starting during
| the GFC:
|
| - It's counterintuitive, but during your saving years you're
| better off if the market's doing poorly because everything's on
| sale. If you're retired you want the opposite.
|
| - Frequently looking at your net worth is a big distraction. Just
| focus on the things you can control, like your savings rate and
| expenses.
| LilBytes wrote:
| Hug of death? Unable to load the site.
| nomdep wrote:
| Fantastic! Now all what I need is to have wealth to manage
| JSavageOne wrote:
| Site not loading for me
| jasonjmcghee wrote:
| Seems to load very slowly. Maybe not serving statically from a
| CDN
| Ocha wrote:
| Same
| faitswulff wrote:
| It accurately reflects my wealth management needs
| wing-_-nuts wrote:
| 404 wealth not found?
| throw0101a wrote:
| https://web.archive.org/web/20230823004121/https://ghostfol....
| iFire wrote:
| LICENSE
|
| GNU Affero General Public License v3.0
|
| https://github.com/ghostfolio/ghostfolio/blob/main/LICENSE
| evergre wrote:
| For anyone who needs a hosted/paid/slick alternative, there is
| https://kubera.com
|
| Disclosure - I work at Kubera.
| alexchamberlain wrote:
| Ghostfol.io have a hosted/paid option for 19 USD/year. Is
| Kubera worth the extra $100+?
| evergre wrote:
| Please take the 14-day and find out for yourself.
| sgarman wrote:
| How successful has the [COMPETITOR] vs Kubera pages in footer
| technique been for y'all?
| spaceribs wrote:
| Cool! an open source Angular app!
| rsstack wrote:
| > saying no to spreadsheets in 2023
|
| Normalize spreadsheets as evergreen technology. Say no to weeb3
| in 2023.
| [deleted]
| FrustratedMonky wrote:
| Isn't "wealth" a misnomer.
|
| Do people with real wealth really use open source tools?
|
| Or do they have meetings with their accountants, bankers,
| brokers.
|
| This is really "wanna be wealthy" tools.
| tristor wrote:
| Most of the wealthiest people in the world actually manage
| their own wealth as their primary occupation (which can take
| many facets). There are places to hire professionals to assist,
| but until you are in the tens of millions or more in net worth
| it's usually a better deal to self-manage because professionals
| expect a percentage of assets under management as a fee. Once
| you have a high enough net worth you operate a family office /
| self-organized finance company and hire people directly.
|
| You don't get wealthy by giving someone else 1% of AUM for
| performing on-par with a passive investment in index funds you
| could self-manage. So, sure, this is "wanna be wealthy", but
| what even is "wealthy"? I have a plan using spreadsheets and
| other tools that is on track to take me into low-mid double
| digit millions prior to retirement, I can't imagine giving
| someone 1%, which can be six-figures or more, every year for
| clicking some buttons. At some point managing my own wealth is
| worth more investment of my time than any other occupation.
| mrpotato wrote:
| Wealth is an industry term. It doesn't imply that one should be
| wealthy (rich) to use this tool. Wealth management is a tool
| for planning your own personal wealth for the future.
|
| For example, you add all your accounts/investments and have the
| software calculate how much you need to save so that by age 65
| (retirement) you have $X which you will need so that by the
| time you reach life expectancy (say 90 y/o) you have > 0$ left.
|
| There is other stuff you can add in, like "I would like Y$
| saved by 20XX so that I can purchase a house. How will that
| affect the amount I need to save now and how much will that
| affect my savings at retirement."
|
| > Or do they have meetings with their accountants, bankers,
| brokers.
|
| It is probably a good idea to have a financial advisor do this
| for you since they have the know-how (and certification
| depending where you live) and will know about regional benefits
| you can apply which can increase your "wealth". However, if you
| want to do this yourself because you know the space then there
| is software like this, or Wealth Simple for example.
| FrustratedMonky wrote:
| K. You're right, you can classify the term "Wealth" as any
| free capital.
|
| So if I have an extra $5 I can manage that "Wealth".
| breakds wrote:
| There are quite some wealthy people who happens to understand
| technology well and use and contribute to many open source
| tools.
| [deleted]
| xur17 wrote:
| What do you define as wealthy? If you read bogleheads / fire
| blogs, there are plenty of people I would define as wealthy
| that self manage their assets. A lot of them use spreadsheets,
| some use free / cheap software online.
| toolz wrote:
| Everyone in my family with a net worth over 5MM self-manages
| their assets. Many financial advisors/managers are percentage
| based commission which ends up being about as close to a scam
| as you can get without it being unethical. (very much just my
| own opinion here)
|
| I don't trust industries that use ignorance to line their
| pockets, which is why I manage my own wealth.
| skippyboxedhero wrote:
| Worked in wealth management (and am now building something
| similar to the OP but from a totally different direction),
| it is a complete scam.
|
| The original comment says that no-one is using apps...what
| do you think wealth managers use? Wealth managers are
| usually the same products that are re-skinned for
| professional use with a few added features that most
| advisors should know how to do themselves...but usually
| don't (I worked for someone managing nine figures who
| didn't understand that you could use Excel to do
| calculations, so he would sit there with a calculator and
| hardcode every number...this man is worth $10m+ himself).
|
| If you have the ability, I appreciate that some people have
| neither the time or inclination, do it yourself. At medium
| levels of wealth (more than $1m and under $50m), you are
| likely unable to access good advice so this is really the
| sweet spot for doing it yourself (if you prefer simple
| financial products, financial advice largely exists as a
| service in this bracket because people choose to invest in
| extremely complex products that are designed to give
| financial advisors something to charge money for...if you
| have a DC pension and are investing in ETFs, 99% of
| financial advisors cannot do anything for you).
| Galanwe wrote:
| > At medium levels of wealth (more than $1m and under
| $50m), you are likely unable to access good advice
|
| What the actual f...
|
| According to the "Global Wealth Databook 2021" by Credit
| Suisse, page 129, there are in the US:
|
| - $1-5M : 19.5M people (<6%)
|
| - $5-10M : 3.2M people (<1%)
|
| - $10-50M : 1.5M people (0.4%)
|
| And that is from one of the richest country in the world,
| with a very steep exponential wealth distribution.
|
| $1-50M is _far_ from "medium wealth" by any stretch of
| the imagination.
|
| >$1M (liquid) is enough to be denoted "high net worth"
| HNW and access private banking, with a dedicated wealth
| manager, from most major investment banks.
| ebiester wrote:
| So, then, who are the right people for the kind of
| financial questions that require experience but don't
| need an ongoing relationship? (For example, someone who
| has an existing IRA but would like to convert it as to
| later take advantage of backdoor Roth conversions - it's
| a complex modeling exercise that's probably simple for an
| expert but hard to get right for someone who will need to
| do it precisely once in their life.
| toolz wrote:
| For me personally, half the benefit of handling your
| finances correctly is that with the knowledge of one
| thing often comes learning about something else that
| might tweak your financial strategy or at the very least
| increase your options in life. For something like a
| backdoor roth strategy or when it might make sense to
| utilize isn't something I personally would want handled
| for me. I would want to understand the decisions I make
| and potentially learn something important along the way.
|
| Financial literacy doesn't seem optional for the wealthy
| from my perspective. There's too much to gain by having
| it and too much to lose by neglecting it.
| westonplatter0 wrote:
| nah. Most of wealthy people I've interacted with have
| refined/specialized workflows that are something similar to 5
| excel spreadsheets.
|
| Build a tool that allows people to organize their 5 spreadsheet
| and you win.
| xur17 wrote:
| I've tried a number of tools that promise to "automatically"
| pull all of my transactions and assets in and create a
| dashboard for me, but I always end up back with a group of
| spreadsheets. My current setup is:
|
| 1. Overview spreadsheet that shows my current net worth (fed
| from my other spreadsheets), a monthly snapshot of spending,
| income, and assets, and number of months until FIRE based on
| my trailing 12 month spend and income.
|
| 2. Spreadsheet tracking stocks I own + their current value
|
| 3. Spreadsheet tracking my crypto transactions (that I run a
| script against to get the cost basis and current value to
| plug into spreasheet 1)
|
| 4. Lunchmoney.app - website that I use to track and
| categorize spend. This data fees into my overview
| spreadsheet.
| 303uru wrote:
| Sounds like you'd like Tiller. It's what I use. Pulls all
| your transactions and balances into speadsheets and then
| you can use their templates or your own from there. I have
| wealth dashboard, spending, etc...
| zeagle wrote:
| That's cool. I'll try out Lunchmoney.app!
| matthewtse wrote:
| Would argue a surprising number of millionaires+ don't have any
| bankers/brokers, as the fees are usually % based and they
| really add up.
| Topgamer7 wrote:
| You probably have a house, a car, a 401k, expensive phone,
| computer(s). At least a good portion of the HN demographic
| probably fits this description.
|
| So you're more wealthy then the person working 2 jobs, living
| with 3 roommates, commuting by public transit.
|
| Wealth is just your possessions with value.
|
| This is just being "pedantic about social class".
| FrustratedMonky wrote:
| Technically you are correct.
|
| The term "Wealth" is just a word for money.
|
| Pedantically, any money can be termed "Wealth".
|
| So if I have an extra $5 dollars, I can manage that "Wealth",
| and I should not get hung up on a term that the ignorant
| masses associate with a "Social Class".
|
| There are no social hierarchies, we are all wealthy on a
| sliding scale, from 5$ to $5MIL to $50BIL.
| quaintdev wrote:
| Repo: https://github.com/ghostfolio/ghostfolio
|
| Trailer: https://www.youtube.com/watch?v=yY6ObSQVJZk
| 3abiton wrote:
| > trailer
|
| I'll wait for the teaser
| guideamigo_com wrote:
| Typescript tells me that it will start to break soon if it ever
| gets abandoned.
|
| JavaScript packages are one of the fastest routing rotting set
| of dependencies.
| 8n4vidtmkvmk wrote:
| I wanted to dispute this but then I remembered that I wasted
| 2 hours yesterday because Yarn 3 PnP and Typescript weren't
| playing nice together.
| cryptoboid wrote:
| I feel that pain, I've gone through that but I've just
| switched to Yarn 1 and call it a day
| zo1 wrote:
| Not really a trailer. More like a marketing placeholder video
| with moving screenshots.
| FrameworkFred wrote:
| Neat idea, but I don't see a great way to handle real estate,
| unless it's shoe-horned awkwardly into wealth items. For me,
| that's a gotta-have.
| LoveMortuus wrote:
| Why did the site hijack the back button? I tried to return to HN
| but it just kept reloading into the ghostfol.io site...
| wintermutestwin wrote:
| I am always baffled by people who actually use the back and
| forward buttons. I guess I just assume that everyone opens
| links by right-clicking and opening in a new tab. Is there some
| reason why back and forward is a better or even useful option?
| hsbauauvhabzb wrote:
| Mobile devices, for one.
|
| The amount of websites that don't support control+click
| indicate to me that most people don't use the method.
|
| Edit: but regardless it's not okay to hijack the back button.
| screamingninja wrote:
| Does anyone have experience with self-hosting this? Curious to
| learn what worked and what did not.
| c0brac0bra wrote:
| I just tried and it came up fine. Onboarding is non-existent so
| that's unfortunate.
|
| Edit: took me a while to find it, but the last similar too I
| tried was https://projectionlab.com/, and while paid, it's UX
| is way better.
| counterpartyrsk wrote:
| I tried it a couple months ago and wasn't too impressed. Unless
| I missed the feature, I trade enough to need something that can
| plug in to my brokerage accounts. There is a trade import
| feature, but I'm not going to export/import transactions from
| multiple accounts daily.
| madballster wrote:
| Have you found a better alternative for someone who trades a
| lot? I'd like to drill down into trade results per symbol and
| get ROI statistics and visualize past buy/sell points.
| scubakid wrote:
| I'm flattered to see they have a page advertising it as an
| alternative to ProjectionLab (disclosure: I made that).
|
| Though I haven't yet seen a part of this tool that makes
| projections. Did I miss that?
| [deleted]
| stevofolife wrote:
| Can someone not just make a wealth management spreadsheet in
| Excel? If anyone has a good one, can you share or sell to me?
| [deleted]
| andix wrote:
| I am using Portfolio Performance for a while now. Need to check
| how it compares.
|
| PP is easier to set up though, it's a plain old Java desktop
| application.
|
| https://www.portfolio-performance.info/en/
|
| Edit: it works well for crypto too, you can track anything that
| has a count and a price.
| Aulig wrote:
| I use that too. Ghostfolio looks a lot more beautiful but
| probably is more limited in terms of features :)
| ak39 wrote:
| Does it handle stock splits, consolidations, dividends etc?
| Calculating returns (basically tracking growth) is a non-trivial
| problem.
| berkes wrote:
| Yes, somewhat. Not as proper as it should. But it does the job.
| Esp with such events as splits, mergers, renames you can see
| it's not a very professional setup. I've had to hack around it
| by adding and then nulling some assets like "emission claims".
| Or, in my country, dividend-tax is extracted immediately so I
| now hack around that by adding that tax as "fee" to ghostfolio.
| It works. But isn't a replacement for actual book- and
| portfolio-keeping.
| ghostpepper wrote:
| Maybe I'm just getting old but it always makes me skeptical when
| something is introduced as "Open Source" and then the main
| landing page includes a pricing tab.
| mirzap wrote:
| What's wrong with paying for the software? You get the source
| code, they provide you the service if you don't want to handle
| it by your self.
| andersrs wrote:
| People are cheapskates when it comes to OSS. OP put in
| thousands of commits and only has 18 supporters. They are not
| exactly a software baron are they?
|
| On the other hand you have some onlyfans girls flashing their
| ass for 10 seconds getting thousands or even millions.
| BLKNSLVR wrote:
| I was initially too, but upon reading said Pricing page was
| pleasantly surprised.
| basch wrote:
| Is there a lot of free cloud hosted open source software as a
| service that isnt ad supported?
| asutekku wrote:
| It's a tool which 100% benefits from having a good UX, so not
| having a single screenshot on the frontpage is not a good sign. I
| don't count the linked YouTube video as one as it redirects me to
| YouTube.
| [deleted]
| darau1 wrote:
| Anybody care to define "wealth management" as opposed to run-of-
| the-mill personal accounting? Why would I use this instead of
| ledger[1], for example?
|
| - [1]: https://ledger-cli.org/doc/ledger3.html
| mmmpop wrote:
| [dead]
| olejorgenb wrote:
| Can ledger track performance over time (which I assume
| Ghostfolio can). Does ledger (or the eco-system around) come
| with integration towards sources which categorize assets, and
| can it easily give a breakdown of the exposure according to
| such categorizations (per industry, per region, etc.)?
| berkes wrote:
| Yes, no.
|
| Yes, Ledger can do all those things. No, it doesn't do this
| "out of the box".
|
| I do most of these things. Simple, by adding meta-tags to my
| ledger. I'm just now working on consolidating on all my
| willy-nilly scripts and tools. And then plan to turn this
| into an actual "investment dashboard" ala ghostfolio but
| using the ledger as source.
|
| In the end, a plain-text-ledger is just a of database. And
| the ledger query language (e.g. bean-query-language) a way to
| query it and produce reports.
|
| So, what you are asking is more like "can SQLite categorize
| assets, give a breakdown of the exposure according to such
| cats per industry, region etc". Well, sure it can. But it's a
| bit of a strange question.
| olejorgenb wrote:
| Of course it's _possible_ to implement these features on
| top of any system which stores the transactions... but I 'm
| sure you agree that to a user it matters that these things
| are accessible without writing lots of willy-nilly scripts,
| and preferable not having to add such meta-tags manually
| when other sources have already categorized them.
|
| Thus I suspect there's space for more specialized solutions
| like Ghostfolio. Although I myself would prefer if my
| accounting system could also do these things. (I'd be
| interested in these willy-nilly scripts. I also enjoy
| writing willy-nilly scripts, but time is limited)
|
| EDIT: saw the link you already posted
| abdullahkhalids wrote:
| I don't know about ledger, but gnucash can track performance
| over time[1, 2]. I don't think Gnucash can do your second ask
| on its own.
|
| [1] https://www.gnucash.org/docs/v5/C/gnucash-
| guide//chapter_inv...
|
| [2] https://www.gnucash.org/docs/v5/C/gnucash-
| guide//rpt_standar...
| tr3ntg wrote:
| If you're using a tool like ledger, I don't think there's much
| ghostfolio could say to convert you. Seems like comparing
| apples to oranges. I'm not familiar with ledger, but at a
| glance, seems like it's made for a different audience with
| different needs.
| berkes wrote:
| In fact, I'm working on something alike Ghostfolio but that
| uses ledger as database. It's very much early stage and
| mostly proof of concept and hacked together scripts. But I'm
| moving it to both "tabula" and "bullboard":
|
| https://github.com/berkes/bullboard-rs
| https://github.com/berkes/tabula
|
| Again: early. But tabula is my consolidation of random
| "beancount/ledger" stuff regarding running my small business
| and startup. And bullboard my consolidation of random
| "beancount/ledger" stuff regarding everything investment
| related. The latter is just a CLI tool for now, and barely
| works. But once the businesslogic is done, I plan to add a
| web-interface alike ghostfolio to it. A tad simpler, I think,
| though.
| multicast wrote:
| "Real" wealth management has a lot more legal work behind it
| since a non trivial portion of wealth management are topics
| like inheritance and planing for the next generation. Also
| wealth management is more focused on wealth preservation than
| generating high returns, that is more the focus of asset
| management (e.g. hedge funds, private equity etc.). But since
| this piece of software is focused on the individual the term
| seems applicable even though something like personal finance
| would be more suitable. For "real" wealth management you hire
| usually professionals. It has a lot of good and bad sides that
| a majority of people think that when it comes to finance they
| can compete on an equal level with experts who do this every
| day. But if your skilled you surely save a ton of fees.
| mikeryan wrote:
| _Also wealth management is more focused on wealth
| preservation than generating high returns, that is more the
| focus of asset management (e.g. hedge funds, private equity
| etc.)._
|
| This is a bit simplistic. It's more focused on setting a
| target return and cash flows consistent with your current
| life plans. Whether this is a defensive or more aggressive
| position is really up to you and your goals. But Wealth
| managers are about putting an investment strategy in place to
| achieve that. They also help actively manage your portfolio
| to address macroeconomic trends.
| felipellrocha wrote:
| I would say ledger is more about knowing where your money is
| going, and ghostfolio is about making sure you minimize the
| risk of losing said money all at once after you hit a certain
| wealth threshold
| czbond wrote:
| Thanks for posting - looks like something I've wanted to find for
| a while
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