You are what you eat, and you believe in what you buy
I got interested in stocks and investment when I was in 11th grade in High School. I convinced my parents to give me my first $200 to make a stock account and try my hand at the game. Naturally, I didn't know anything at the time and just invested in what I thought would make me money. Looking back I didn't care about what the company did, I didn't bother to do research into whether they had a positive reputation or lawsuits filed for worker abuse. Money makes the world go round, so if we want a better world we need to influence people to think about the decisions they make but in a way that creates a real positive social change while also seeing some rewards at the end of the day.
Investment firms have some of the greatest power in the world because they choose where to hand out the money. When looking at a company investors have a wide array of stats and information to pick and choose from. In recent years investors have started to become more socially perceptive and would like to invest in companies that are making a real positive impact in the world over those that abuse workers just to get that extra penny and dime. In comes ESG strategies, a great score metric which can be used to analyze how much good a company does in the world through environmental, social, and governance means.
I created a stock platform that allows a portfolio manager to search for the rough idea he has in his mind of what a great stock looks like, but while providing additional information such as ESG score and C-Suite comp range vs average salary to find those companies under the radar that are performing well while also trying to make a better positive change in the world.
I incorporated various finance API's such as GoldMan Sachs Marquee API and IEX Finance Trading API to get all my stats for the sample stock dataset. I used Python3 for the back end which queried and sent all the stock information to Google's Cloud Firestore Database. And finally, my front end is ReactJS using the Material UI React library.
Actually getting the API's to work were complicated and had some issues. After resolving those I realized ESG score data and getting the compensation for CEO or employees were basically impossible unless I had access to some private and expensive API's. So for that I had to use some dummy data to illustrate my point. Making all the different search filters and queries while using a large form in React also was a little time consuming, but overall not that bad.
After realizing how valuable it is to be actively thinking about what your investing in just like what you choose to eat, I would like to find more ways to help investors become conscious of the companies they are looking into. Because at the end of the day, the best way to make a positive impact in the world is by valuing companies that try to do just that.