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 to 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; the phrase "Let the buyer beware" certainly 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 A's" 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 very bad, which could indicate bad information. Some warning signs may include typing and spelling errors, incomplete sentences, and pronouncements promising results that seem difficult or impossible to deliver.

Arrangement: Are the financial tables and data arranged so information can be 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

About.com/Investing for Beginners

http://about.com

Student investors may find the various workshops, glossaries, and "how to" articles very helpful. Links to a variety of financial sites are also included. The novice should look at this site carefully.

Excite Business Information

http://money.excite.com/jsp/ps/mymoney.jsp?PG=home?SEC=qkclk

Excite maintains an attractive investment site with links to SEC filings, conference calls, a market screener, and a sign in opportunity for investor's personal portfolios.

Lycos Business Information

http://my.finance.lycos.com

This site provides stock quotes, stock news, mutual funds, IPOs, portfolio tracking, news by industry, and other services similar to Yahoo. The active message boards are available for information and perhaps misinformation. Registration is recommended to use the site optimally, and an e-mail address is required.

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, insider transactions, analysts' research recommendations, and company stock charts, and it also contains a message center for individual investors. The free investment information offered on Yahoo is difficult to find anywhere else on the Web.

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.

Bloomberg.com

http://www.bloomberg.com

This is a convenient site to use because so much information is available free without prior registration. Of course, the personal portfolio portion of the site requires registration, and the registration allows for more in-depth use of the material. This site is ideal for garnering information quickly and without the red tape required of many financial sites.

Clearstation Investment Web Site

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 many stock names are noted as possible investment choices. Further investigation of investment ideas must be done before the purchase of these stocks.

Investor Guide

http://investorguide.com

Investor Guide claims to be the "only investing site you need," 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.

Money Central.Com

http://moneycentral.msn.com

This is an extensive Web site because it combines the multi-faceted business news of CNBC with useful management tools such as portfolios, news alerts delivered via e-mail, essential investment questions and answers, and many other financial topics.

Thomas Register

http://www.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.

Media Web Sites Presenting Business News

Barron's

http://barrons.com

Free access to Barron's comprehensive stock listings and a calendar of 2002 economic events. Otherwise, this widely read financial weekly maintains a Web site on a subscription basis.

Britain's Financial Times

http://news.ft.com/home/us

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 on this site includes stock quotes, stock groups, lists of market movers, free newsletters, forum and message boards, and other useful business data such as currency and interest rate trends. Personal portfolios may be created, but an e-mail address is required.

CBS Market Watch

http://cbs.marketwatch.com

News on companies is extensive. With proper signup, free services are offered for custom portfolios, e-newsletters, alerts, and message boards.

Chicago Tribune

http://chicagotribune.com/business

The "Business" portion of the Tribune's Web site provides quotes, market movers, and a number of other special features, such as the CEO Wealthmeter. Alerts and access to portions of the Chicago Tribune are available with registration. Investors may take advantage of a portfolio service, which provides daily news alerts and quotes.

CNN Financial News

http://www.money.cnn.com

Provides news and stock information, as well as access to many articles and ideas from Money Magazine.

Ecola 24-Hour Newsstand

http://www.newsdirectory.com

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

This is chiefly a subscription Web site. Some useful articles from Forbes magazine on investing make a stop at this site worth the visit. This site also provides free stock quotes.

Investor's Business Daily/Investors Web site

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 is found by using the "Learning Center" link.

Kiplinger

http://Kiplinger.com

This site has useful information and articles, but it is by subscription only.

New York Times

http://www.nytimes.com

The excellent coverage of business news makes this site a must. One may register at no charge and gain additional access, including the use of the stock portfolio.

USA Today

http://www.usatoday.com/money/mfront.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 personal finance page provides useful questions and answers to intriguing queries like "how long does it take to be a millionaire."

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 "Market Cycles: What Drives Stock Prices," "The Educated Investor," and "Putting your Money to Work." Other features include information on the NYSE specifically.

Stock Exchanges Worldwide

http://www.tdd.it/s/news/stocks_Exchanges?Exchanges.html

This site provides a comprehensive listing of stock exchanges around the world arranged alphabetically by location.

Web Sites of Stock Brokerage Companies

Yahoo Brokerage List

http://www.yahoo.com/Business_and_Economy/Finance_and_In vestment

Lists of brokerage companies are maintained by all the major search engines. The Yahoo list includes full-service and discount brokers. Virtually all of these sites require guest registration and provide only basic news about the market. If one is a customer of the brokerage firm, data and research reports are much more available through a password.

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