Many people may find it difficult to understand the stock market, a complex system where ordinary people can take part in a company's success. This applies to those newly entering the adult world, as well as many others that haven't had the opportunity to learn. We want not only to introduce people to the importance of the stock market, but also to teach them the importance of saving money. When we heard that 44% of Americans have fewer than $400 in emergency savings, we felt compelled to take this mission to heart, with the increasing volatility of the world and of our environment today.
What it does
With Prophet Profit, ordinary people can invest easily in the stock market. There's only one step - to input the amount of money you wish to invest. Using data and rankings provided by Goldman Sachs, we automatically invest the user's money for them. Users can track their investments in relation to market indicators such as the S&P 500, as well as see their progress toward different goals with physical value, such as being able to purchase an electric generator for times of emergency need.
How we built it
APIs that we used: -Goldman Sachs Marquee -IEX Cloud
Additional Resources: -Yahoo Finance
Challenges we ran into
The biggest challenge was the limited scope of the Goldman Sachs Marquee GIR Factor Profile Percentiles Mini API that we wanted to use. Although the data provided was high quality and useful, we had difficulties trying to put together a portfolio with the small amount of data provided. For many of us, it was also our first times using many of the tools and technologies that we employed in our project.
Accomplishments that we're proud of
We're really, really proud that we were able to finish on time to the best of our abilities!
What we learned
Through exploring financial APIs deeply, we not only learned about using the APIs, but also more about the financial world as a whole. We're glad to have had this opportunity to learn skills and gain knowledge outside the fields we typically work in.
What's next for Prophet Profit
We'd love to use data for the entire stock market with present-day numbers instead of the historical data that we were limited to. This would improve our analyses and allow us to make suggestions to users in real-time. If this product were to realize, we'd need the ability to handle and trade with large amounts of money as well.