FinanceAll

Inspiration

The growth in fintech platforms has revolutionized the way we spend, save, and invest money. Applications like Robinhood empower the every-day person to make trades at their fingertips. However, the stock market is complex and uninformed decisions can lead to negative returns. Casual investors are often unaware of the risks they are taking while investing, and do not have enough capital to properly diversify their portfolios. In addition, financial advisors are expensive and often reserved for sophisticated investors. That's why we made FinanceALL; to provide the financial experience of a quantitative hedge fund to the casual investor.

What it does

FinanceAll leverages quantitative investment strategies for each dollar invested. The fund is built so that we employ the strategy of buying low price-to-book stocks and selling high price-to-book stocks. Backtesting this strategy from 2017 to the end of 2019 we were able to achieve an annualized holding period return of 19.60%.

How we built it

We built the program on Python using financial and market data from WRDS (Compustat and CRSP databases).

Challenges we ran into

This is our first hackathon and we have never built a web app before. Implementing FinanceAll is still a work in progress.

Accomplishments that we're proud of

We are very proud that our investment strategy can be fully automated and produces well above average market returns.

What we learned

We learned that backend development and frontend development two separate beasts, but jointly impact the overall functionality of the application in significant ways.