Watch List or Portfolio?
How to choose between the two tracking tools in Morningstar.com's Portfolio Manager.
Question: I've noticed that Morningstar.com's Portfolio Manager offers me two options--"Create a Portfolio" or "Create a Watch List." What are the differences and how do I know which one to pick?
Answer: Morningstar.com's Portfolio Manager tool allows investors to input and track holdings in two different ways--by creating a watch list or a transaction portfolio. Below, we will highlight the unique features of both.
What Is a Watch List?
The watch list allows investors to create a list of investments to monitor on an intraday, daily, or longer basis. (Click here to begin the process.) Watch lists require only that you input securities by name or ticker. (If you don't know the ticker, simply start typing the security's name, and our suggestion box will help you find the right holding.) If you like, you can also input a specific number of shares, purchase price, and commission, but these are not required for a watch list. Indeed, many Morningstar.com members use watch lists to track securities they don't yet own.