- Does Quicken handle option transactions (puts, calls etc) ?
Of course Quicken will "handle" options. Like any other security, you identify each option with a name (Such as SUNW April 2002 $10 Calls) and a SYMBOL (the real one is best). Then you enter a buy or sell transaction as appropriate plus commissions. Rather than trying to "fool around" with multiples of option contracts (100 options) I record the actual number of options bought or sold, the price paid or received for each option and the total commission.
You simply have to use your imagination. Buying and selling options is treated like all other things with value (such as securities, paintings, rare cars, real estate, etc.) You record buys plus expenses (such as commissions) and sells plus expenses (such as commissions).
One Example: If you buy call options (such as SUNW April 2002 $10 Calls) that expire worthless, you "pretend" that you sell all of your shares (options) for $0.00 and record a total loss.
- Have you tried Microsoft Money?
Yep, I took a cursory look at Microsoft Money in the mid 1990s when Windows 3.1 was the "hot setup". At the time, I simply wasn't very impressed with MSM because MSM wasn't near as "feature rich" as Quicken. From time to time, I also used to read reviews of MSM vs. Quicken at CNET. It seems that Quicken takes top honors generally every time.
I have heard that it is able to understand Quicken data ;-) and you should be able to compare the features. Will you please be a guinea pig for us (after backing up your data files please) ? Will appreciate any pros/cons of Quicken vs Microsoft Money.
Thanks but no thanks! Not interested for three reasons:
1. I already tried Microsoft Money years ago.
2. I'm used to and "comfortable" with Quicken (along with most of its idiosyncrasies) and am now "somewhat" of a seasoned veteran in the use of Quicken. I was even one of very few Quicken beta testers back in 1995......and the engineering staff at Quicken actually incorporated two of my vigorously stated "suggestions". For participating, I got a nifty Quicken T-Shirt, a nifty black carry-all bag (with a Quicken logo) and my very own copy of Quicken Deluxe for 1996 free of charge. Was I happy? Hell yes! Why? Because they listened to me and incorporated my suggestions.......they gave me what I wanted!!!! At this juncture, I'm not about to re-learn another financial software with similar features.
3. I'm not trying to sell Quicken to anyone! The only point I was initially trying to make was that Quicken will handle a lot of things related to buying and selling securities far better than me slavishly entering data in an Excel spreadsheet. Once entered, Quicken also has built-in reports that will "cut" the data almost any way one could possibly imagine. Whether one chooses Quicken or Microsoft Money.....believe me, it's a much better path to follow than trying to enter transactions in a spreadsheet and then trying to generate useful reports and graphs from the data. Another BIG advantage is being able to transfer all of your transactions to TurboTax for calculating your federal and state income taxes.
- With Microsoft Money as competition, and paid-for DOJ, how long you think Quicken will last ?
A long time, my friend.....a LONG time. Have you taken a look at Intuit stock lately?
I have heard some stories of people investing time in learning Lotus-1-2-3 and later having to learn Excel :-p.
You can include me as one of those Excel "converts". Look at my earlier posts here.
No PC application competition of Microsoft ever survives with more than a single digit market share when this small nuisance of anti-trust goes away and life returns to "normal". So why should we bother with Quicken when there is a pushed-by-Monopolysoft equivalent application available?
Because, in my opinion. no matter how big or bright Microsoft is they will NEVER create a version of Microsoft Money that surpasses Quicken in terms of features or ease of use.
BillG testified a few days ago how too many choices for us customers are not good for us and he knows best. Any comments?
I know you are being facetious! What a crock! Since I'm the one spending the money, I will ALWAYS be the one who decides what's best for me......period!
- Are you a Linux-type?
Nope.....just a country boy who happens to like Quicken.
Do what you can and let us know whatever comments you have.
You've got 'em!
Dave |
