Directory of Specialized Business Web Sites

A Guide for Internet Researching

The Internet as an Investment Tool

The Internet is a formidable tool for researching business data because information on public companies is extensive and updated frequently. Web services providing this information are numerous and represent a broad spectrum of industries. Virtually all of the web guides and search engines prominently display a business/investment category. Generally, the stock exchanges around the world maintain their Internet presence. Other businesses offering investment services on the Internet include stock brokerage companies, investor associations, professional business organizations/consultants, and magazine and newspaper publications. Many public companies maintain a web site to advertise their products and services, as well as to provide financial data to potential investors. The Internet's comprehensive view of the global financial community allows investors the opportunity to secure information as never before possible.

Cautious Use of the Internet

The cautious investor who evaluates sources of information and scrutinizes financial reports may find important facts that may assist in stock selection. Recognizing the pros and the cons of the Internet is key to utilizing the information in picking investment stocks. The Internet is the only mass media information source that allows someone to author, edit, and publish material for an interactive worldwide audience and maintain it on an easily accessible web site for an infinite time period. Radio, television, and book and magazine publishing all have screening processes, which can lessen the chance of inaccuracies, misinformation, and fraud. Information found on the Internet requires no proof of authenticity; certainly the phrase, "Let the buyer beware" is appropriate when using the Internet to select business data from web sites. For example, an attractive web site providing business information may be a carefully calculated presentation designed to hype a stock that, if all the facts were known, may not be a prudent investment.

Evaluating Internet Web Sites

Internet users seeking business, company, and investment data must develop critical evaluation skills for each web site encountered. Great stock tips that are tantalizingly offered to the amateur investor need to be substantiated with authoritative data. The Security and Exchange Commission (SEC) and various investor associations are active in monitoring fraud on the Internet, but it is a difficult task given the hundreds of thousands of web sites. The SEC's web site offering advice on Internet investment fraud is http://sec.gov/consumer/cyberfr.htm. The Investor Guide also maintains a site at http://investerguide.com/Fraud.htm. To be critical of web sites, remember the "6 As" of evaluating electronic sites:

Accessibility: Have you seen the site's name at another site? Generally, links to web sites with valuable information are found on many of the web guides and business sites. The access factor may be revealing in determining the strength and validity of a web site.

Accuracy: Is the data consistent with what you know about the company? Does the data included on the web site provide investors with a complete, objective picture of the company?

Appearance: Just because the site looks good, does it necessarily mean it is good? Not always. On the other hand, some web sites may look bad, which could indicate bad information. Some warning signs may include typing and spelling errors, incomplete sentences, and pronouncements promising results that are difficult or impossible to deliver.

Arrangement: Are the financial tables and data arranged so information is located easily? The web site's organization is key to efficient use. If the site is not user friendly, that is, the information is limited and difficult to find for companies, the web master should be contacted with specific suggestions and criticism.

Authenticity: Is the information properly footnoted (the source is indicated)? Does the information appear to be derived from respected commercial database companies?

Authorship: Does the site clearly indicate who is authoring the information? If so, does the name of the person or institution add to your confidence that the information is true and relevant?

Selected Business Web Sites

Search Engines and Search Guides

Dogpile Stock Quotes and Business Information http://www.dogpile.com

This multi search engine provides a well-designed investment page with a full range of financial data about companies, including price, earnings, and research. Portfolio tracking is available and "users may create as many portfolios as they wish."

Excite Business Information http://quicken.excite.com

The investment information for Excite is provided by the same source that services Webcrawler (Quicken) and matches the features of Webcrawler's Business site in regard to stock data.

Infoseek Business Information http://www.infoseek.com/Topic/Investing?tid=429

This site provides links to a broad range of investor information for personal investing. Much of the data is provided by "Microsoft Investor," including quotes, charts, and details on stock trading.

Lycos Business Information http://stockfindlycos.com

This site provides stock quotes, stock news, mutual funds, IPOs, portfolio tracking, news by industry, and other services similar to Yahoo. Registration is recommended to use the site optimally, and an e-mail address is required.

Metacrawler Business Information http://www.metacrawler.com

The multi-search engine Metacrawler provides a direct link to the excellent investment page, "Stocksite." Extensive coverage of company data is available, including quotes, charts, news, message board, company profiles, historical prices, SEC filings, and news by industry.

Webcrawler Business Information http://quicken.webcrawler.com

Through its service provider, Quicken, Webcrawler offers investment information similar to the features provided by other search engines. It allows students to create a portfolio that can be tracked. It also includes access to the current quote, stock chart, intra-day trading chart, news, overview, analysts' opinions, company profile, competition, financials, SEC filings, and a forum to discuss stocks for public companies.

Yahoo Business Information http://quote.yahoo.com

This site provides a comprehensive collection of investment data for the student researcher, including business news, U.S. stock news, news by industry, Associated Press reports, Standard and Poor's Business Wire, mutual funds, and SEC filings. Students may create and track their portfolio after registering, which requires an e-mail address. Individual stock quotes and stock information are easily accessed. For individual stocks, Yahoo reports on company news, SEC announcements, company profiles, insider transactions, analysts' research recommendations, company stock charts, and a message center for individual investors.

Investor Services Web Sites

Annual Report Gallery http://www.reportgallery.com

This site provides annual reports and links to the web pages of many publicly traded companies.

Clearstation Investment Website http://www.clearstation.com

This site offers free membership for a wide variety of stock services, including portfolio tracking, stock quotes, and information on specific companies. It does not recommend or take responsibility for stocks mentioned on its site, but a great many stock names are noted as possible investment choices.

Investor Guide http://investorguide.com

Investor Guide claims to be the "best investment resource on the web," and it does have well designed sections. For the beginning investor, the links to "learning about investments," "advice from the pros," "advice on taking advice," and "overall strategy" warrant attention.

Invest-o-rama http://www.investorama.com

Several tools helpful to the investor include a web directory, portfolio tracking, research of stocks, stock screening, stock charts, and a directory of about 5,000 public companies with links to their home pages. The web directory is extensive with more than 8,000 links divided into 89 categories. Portfolio tracking does require registration.

Investorweb http://investorweb.com

Subtitled "for the thinking investor," this site informs the user about financial opportunities through newsletters, educational essays, and a well-developed list of links to financial sites. This site also includes a model portfolio, which has 5 to 10 stocks with commentary about the selection process.

Invest-faq.com (Frequently Asked Questions) http://www.invest~faq.com

The overview of stock market topics is divided into three levels: for the beginning investor, the middle range investor, and the seasoned trader. The questions are appropriate and especially helpful to a beginning investor. The extensive listing of links to other sites may also prove useful.

Standard & Poor's Personal Wealth http://www.personalweath.com

Stock quotes, market news, market analysis, and investment basics are available from this S&P sponsored site. A monthly fee of $9.95 gets the investor the real-time market analysis from S&P for some 9,500 companies.

Stock-talk http://www.stock-talk.com

This site claims to be one of the largest investment forums on the Internet with more than 7,800 stock discussion boards. While there are guidelines for etiquette, the content of the stock information posted by investors must be viewed critically since it is opinion requiring more verification.

Thomas Register http://www4.thomasregister.com

If a brand name or company name cannot be found, this site may have the answer. It includes some 155,000 companies; 124,000 brand names; 60,000 service headings; and 5,500 supplier catalogs.

U.S. Government SEC Web Site http://www.freeedgar.gov

Excellent source for company information required by government regulations, such as insider trading and financial disclosure statements. At times the system is very slow.

Wall Street Research Net http://wsrn.com

In the introduction to its web site, WSRN claims to be "the most comprehensive resource for investors." It does have some unique free services including researching companies, Baseline Company Profiles, and mutual fund information. The most unique free service, however, is the "Economic Calendar," which allows the investor to select specific dates, and the calendar lists important government announcements to be released on that date.

Media Web Sites Presenting Business News

Barrons http://barrons.com

This widely read financial weekly maintains a web site on a subscription basis.

Britain's Financial Times http://www.usa.ft.com

This is an outstanding site for financial news presented from a British/European perspective. Registration and an e-mail address are required, but once signed on, the daily coverage of business news is complete and exhaustive.

Business Week http://www.businessweek.com/index.html

The investment data available includes stock quotes, stock groups, lists of market movers, and other useful business data such as currency and interest rate trends. A portfolio may be created with up to 20 stocks, but an e-mail address is required. A free newsletter, the BW Online Insider, is available with electronic registration.

CBS Market Watch http://cbs.marketwatch.com

Information on companies is extensive including news, fund profiles, SEC filings, Baseline Company Profiles, and Hoover's Company Capsules. Investors may request an annual report from many public companies by completing the electronic form.

Chicago Tribune http://chicagotribune.com

The "Business" portion of the Tribune's web site provides quotes, market movers, a Chicago "Scoreboard of Winners and Losers," and an insider look into Chicago companies. Investors may take advantage of a portfolio service, which provides daily news alerts and quotes.

CNN Financial News http://cnnfn.com

Excellent site to keep up with the business news throughout the day. Stock quotes, charts, and company profiles are also maintained. The financial service provider is Quicken, so the format and content are similar to Webcrawler's Business page.

Ecola 24-Hour Newstand http://www.ecola.com/news/

A comprehensive collection of links to all media home pages is provided, including newspapers, magazines, and electronic titles. The lengthy and diverse listings of publication homepage links allow them to be found easily and quickly.

Fortune Magazine http://www.fortune.com

Useful articles from Forbes magazine on investing make a stop at this site worth the visit. This site also provides free stock quotes. Investors may take advantage of a free subscription offer for "Street Life," which is delivered every weekday via e-mail.

Investorguide Weekly http://investorguide.com/Weekly.htm

The Investorguide Weekly is e-mailed every Monday morning to bring the lastest investment news and information; this free service requires registration of the e-mail address. Investorguide Weekly claims to spend its "time on the net so you don't have to."

Investor's Business Daily/Investors Website http://investors.com

Sponsored by the respected financial newspaper, IBD, the site is free, although registration is required. A highlight of this site is the stock market course, which covers everything from "What is investing" to a glossary of financial terms. Articles from the current Investors Business Daily is divided into five sections: "Inside Today," "Front Page," "Computers and Tech," "The Economy," and "The Markets."

Kiplinger http://Kiplinger.com

The four main newsletters published by Kiplinger are available at this web site by subscription. However, a large number of useful resources are available at no cost, including news, business forecasts, personal finance, and stock quotes. Select articles from Kiplinger publications are accessible and offer investors prudent advice.

Money Magazine http://www.money.com

This site provides some useful financial articles and stock ideas from Money magazine. Business news, mutual funds, money goals, top stocks, and other financial data is also easily found. A monthly fee is imposed on a number of the services.

New York Times http://www.nytimes.com

After an initial registration, which requires an e-mail address, the user has access to select newspaper articles found in The New York Times.

Red Herring Magazine Site http://herring.com

While this is a fee-based site for the financial publication Red Herring, it also has a free Red Herring Online section, which features business news and stock data. Company profiles, insider news, and the "Herring Investor" may provide good support for research.

USA Today http://www.usatoday.com/money/digest/md1.htm

This newspaper site includes the financial news, quotes, and important data from currency, commodity, and stock markets. Using this site, the investor may create and edit up to six portfolios, with up to 10 securities each, through the "Bloomberg Market Scoreboard."

U.S. News/Business http://www.usnews.com/usnews/nycu/nycuhome.htm

The "Money Page" of U.S. News is excellent for the beginning investor with features such as "Finances 101," "Investing," and "Taxes."

Worth Magazine http://worth.com

For the beginning investor, this site is worthy of a visit, even though some services are subscription based. Respected stock picker Peter Lynch includes some 30 articles he recommends in the "Complete Peter Lynch Archive." Another section of the web site serving the same audience is "Investor 101," which discusses how to make sense of financial statements and how to use P/E as an analytical tool.

Web Sites of World Stock Markets

American Stock Exchange http://amex.com

The AMEX provides information only on American Stock Exchange company listings.

NASDAQ Stock Exchange http://www.nasdaq.com

This site includes quotes and information on all stocks on the NYSE, AMEX, and NASDAQ exchanges. News, profiles on companies, portfolio tracking, and investor resources are linked. Investor resources include helpful sections on "an introduction to investing," "investment options," and "setting goals and objectives."

New York Stock Exchange http://nyse.com

In its education section, this exchange site includes such appropriate articles as "How Stocks Are Bought and Sold," "Reading the Stock Page," and "Why Stocks Go Up and Down." Stock prices on NYSE listed companies are available. Other features include the "Market Summary," "Data Library," and "Quick Facts."

Qualisteam http://www.qualisteam.com

Advertised as the "easy access to essentials in banking and finances," this site boasts of links to stock exchanges in 70 countries. Links are also given for 95 percent of all bank home pages, as well as to 1,810 financial servers. It also includes a lengthy list of links to financial publications.

Web Sites of Stock Brokerage Companies

Charles Schwab http://www.schwab.com

While the site's purpose is to promote trading online with Schwab, the free investment information is extensive. Quotes, charts, economic and company news, market analysis, and opinion are available without registration. Screening of stocks to produce lists of companies making new highs and new lows is also possible. Links to publications on the net may be found under "The Newstand."

DLJ Direct http://dljdirect.com

This Donaldson, Lufkin, & Jenrette home page provides many free services for the investor, combined with excellent navigational tools. Quotes, news, an overview of industry sectors, and a rateboard are a few of the features. A noteworthy feature is that investors may create a personalized scrolling ticker tape for up to 20 stocks. Investors may also create a model portfolio of up to 20 stocks and track them.

Merrill Lynch http://merrilllynch.com

Some useful pages on this full-service broker's home page includes "Market Commentary" and "Market Data." The commentary is updated twice daily and provides an overview on the ups and downs in the market. Much of this site requires a Merrill Lynch account for entry.

Morgan Stanley Dean Witter http://www.deanwitter.com

Quick quotes, news and commentary, and market advice from one of the investment strategists are a few of this site's offerings. Investors may personalize a page and tailor the financial data to their specific needs.

Olde Discount Brokerage http://www.olde.com

Several pages on this web site are available at no cost, including "Market Data," "Market Commentary," "Research," and "Portfolio Planning and Investment Choices." Other parts of the site are restricted to investors with Olde accounts.

Paine Webber http://www.painewebber.com

This well-designed homepage details the investment services of this full-service broker. Without registering, the investor can get stock quotes and a market snapshot of news, headlines, graphs, and commentary for the current trading day. Two unique features are a "Test of Your Investor Intelligence," and a "Glossary of Internet Terms."

Salomon Smith Barney http://www.smithbarney.com

Stock quotes, online news, and investment ideas are available at no cost. The Smith Barney "Young Investor's Network" is unique and may attract the "small" investor, but registration is required.

Yahoo Brokerage List http://www.yahoo.com/Business_and_Economy/Finance_and_ Investment

Lists of brokerage companies are maintained by all the major search engines. The Yahoo list includes full-service and discount brokers.

Robert Kirsch, Librarian Lake Forest High School Lake Forest, IL