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Fundville » How We Got Started


Some users asked us how we got started on the fundville idea. The answer was both easy and difficult. The easy part is that we, like many diligent investors, tried very hard to find institutional ownership of stocks. We knew that following smart money would be a long term winning strategy. However, the “free” content of institutional ownership online was very limited. Generally you only find the top 10 positions without any activity details. Some sites did provide a lot more positions, but after compared the data with original SEC 13F filings, we were disappointed with the data quality and also user-friendliness of the applications. Therefore, we decided to start from scratch, and build up our own database of institutional ownership.

Soon we found out the task was a very difficult one. About 20% of institutional investors, either never understand or simply don’t care, file 13F to SEC in a manner of both careless and ignorant. Even Warren Buffett’s Berkshire Hathaway got the CUSIP of Wellpoint wrong many times. They corrected the error recently. But till today, Berkshire Hathaway does not follow the required 13F format. We forgave Berkshire Hathaway because we loved Warren Buffett, and we understood that they only had 30 people running the holding company. But these 20% bad apples actually cost us 90% of time to analyze the data. We have since developed smart and complicated algorithms to detect and fix most of the filing errors but still, a lot of filings require human intelligence and are very time consuming. We know many sites simply ignore these bad apples and only show data from the good ones.

We at fundville follow 2 principals: quality data and user-friendliness. That’s how we differentiate with other sites. Our data quality, and data completeness, are on the par or better than professional ones that cost thousands dollars each year. Moreover, we let user have a very simple and clear view of the data - what the institutional investors really did with the stocks in the most recent filing quarter. 2~3 charts, in addition to 3~4 tables, present a much better picture than a 1000 word long essay.

With the high quality data at hand, we will branch out and provide many market intelligence services to our users. “Masters” and “VPStock” are just the beginning. We welcome your suggestions and comments at support@fundville.com.

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