I’ve been really, really swamped lately (which explains the lack of posts for the past month or two) but after reading this blog post, I felt that it deserved a couple of minutes of my time, even if this post sounds like random ramblings.
SGXcafe – Portfolio Management Tool
SGXcafe is a portfolio management tool created by Evan. Created originally as a personal project to help him make better investment decisions, he decided to share it because it grew to a project that he believed many can benefit from.
Long story short – what had started out as a free project is on the verge of closing down because SGXcafe needs appropriate licensing to continue running. At 5-figures annually, it is certainly not cheap.
The owner of the website, Evan, will continue to keep it online for free, but is asking for help to cover the huge operating costs. Taken from SGXcafe blog :
SGXcafe will continue to be free, but to cover for the high operating costs due to licensing, I would like to invite you to do one or more of the following if you would like to show your support for SGXcafe.
1) Help increase awareness of SGXcafe. You can do this via your blog, share SGXcafe’s articles on facebook, or simply via word of mouth to people whom you believe can benefit from SGXcafe.
2) Donate to SGXcafe. Any amount is greatly appreciated, but if you make a donation of at least SGD 30 (which is less than 10 cents a day), you will become a Friend of SGXcafe for a year, and that would allow you to participate in private surveys, discussions and more that would shape the future of SGXcafe.
I sincerely invite you to do one or more of the above if you feel that SGXcafe has been providing you value in your investment journey.
Being an index investor, I don’t have too much use for a portfolio management tool (the irony, lol) and the reason I stumbled upon it was because I was looking for a simple way to monitor someone’s portfolio. Call it erm, a part-time job. Just how exactly do people accumulate a portfolio of stocks that resembles a pile of messy lego bricks is simply mind-boggling.
Anyway, I found SGXcafe to be easy to navigate and has all the useful information at one glance. In fact, it has gathered quite a following on HardWareZone and there are a couple of bloggers who have caught on as well, such as my15hrww. If you wish, you can easily share your portfolio with others.
I feel that having the tool gives investors a better understanding of the stocks they own and translates them in a meaningful set of numbers. Guess what? I donated S$30 bucks which granted me the status of a “friend”.
Sometimes, a little support is what people needs to keep doing the things they’re passionate about. A little pat on the shoulder that says, “we appreciate what you’re doing”.
Being a “friend” of SGXcafe allows access to a restricted area that allows you to help shape the direction of SGXcafe and determine which features get prioritized.
Kevin : Just read your blog post today and to be honest, I was rather surprised that you had chosen to keep running SGXcafe for free. If I were in your position, I am pretty sure I would have chosen to shut it down.
Evan : Like you have mentioned, I have committed so much time already in it, it is not that easy to give it up and also there are many users who really like it hence I did not want to disappoint them 🙂
Give SGXcafe a try. Like their Facebook page. And if it has helped you, consider recommending it to your friends or donating to SGXcafe. With the growth in user base, ad revenue will eventually cover the licensing costs for a sustainable operation.