The Checklist Tool

“_No wise pilot, no matter how great his talent and experience, fails to use his checklist_” Charlie Munger

Checklists are a very powerful way of analysing stocks against strict sets of rules. They can help rapidly speed up stock analysis and ensure you add rigour to your investment process. By repeatedly applying a sound methodology to every purchase or sale you can also weed out the kind of emotional decision making that may damage returns.

We’ve created a simple to use checklist tool at Stockopedia that allows you to compare any stock against any set of fundamental or technical criteria you can dream up.

Finding the Checklist tool

There are two ways to access the Checklist tool on Stockopedia.

  1. Via the menu: Click the Tools menu on the navigation bar and select Run a Checklist.

  1. Via StockReports:. Simply hover over the Tools tab above the price chart and click Strategy Checklists.  

Running a Checklist

At the top of the page there is a text input box. You can load up any stock by typing its name or ticker and selecting it from the dropdown menu. Use the mouse or keypad to select the stock and press <Enter>.

With a stock loaded into the Checklist tool you can check it against any of our 65 pre-loaded Guru Screen Checklists or any of your own.

The strategies are listed down the left-hand side of the page and sub-divided into different categories depending on their investment style.

Checking the Rules

Clicking any strategy will load up all the criteria as a vertical list in the central part of the page. You can scan the list to see for which rules in the checklist the stock passes or fails.

If you want to know why the stock has passed or failed a rule you can click More Details. The list item will expand and reveal the exact fundamental or technical metric for the stock in question as well as a more detailed description of the data point.

These Pass/Fail items allow you to quickly isolate the strengths and weaknesses of the stock and follow it up with further research.

Checking the History

Checklist are a very useful way of analysing a stock based on the very latest data. But you can also look into the past to find out when (or if) the stock has ever passed all of a strategy’s rules. Simply click History towards the top-right hand side of the Checklist page. A pop-up window will show the precise dates that the stock entered and exited the strategy by passing or failing its rules.

Creating your own Checklist

In addition to comparing companies against the rules of our pre-loaded strategies, you can also create your own. Checklists are essentially stock screens applied as a set of pass/fail rules to a single stock, so we make all your own custom stock screens available as checklists.

On the Checklist page, click the Create Checklist button at the top-right hand side of the page. This will take you to Stockopedia’s Screener, which allows you to choose from more than 350 ratios and measures to custom build a “custom screen”.

Once completed, the screen will automatically be saved to Your Screens and also be available as a Checklist in the menu on the left-hand side of the Checklist tool page.

Applying a Checklist as a Screen

When using the Checklist tool, you can always go through and see how these rules of each strategy are applied to the market as a whole and find qualifying stocks. Do this by either clicking the name of the screen or the button at the bottom of the page to instantly find stocks that qualify for that strategy.