Re: Would like a "Sell all shares" feature
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Posted by Mark on February 06, 1999 at 07:46:37:
In Reply to: Would like a "Sell all shares" feature posted by Richard Hoffman on February 06, 1999 at 00:04:36:
: One of the features that I would dearly like to see is an option to "sell all shares" of an investment, especially mutual funds.
: The problem stems from a situation in which fractional shares are calculated and purchased either through round dollar purchases (i.e. $1000) or distributions.
: When one tries to sell the entire holding based upon the information provided by a sell transaction statement often little fractions of shares are left hanging
: around resulting in pennies and minus signs appearing for the valuation of the supposedly closed investment.
: A "sell all shares" feature would make the balance an absolute zero. Does anyone else have this problem or is there some other solution? Hi Richard,
Thanks for the feedback, I agree this is an
area that needs work. First of all, for now,
the best way to avoid this rounding problem is
by recording the value and shares first when
recording any transaction, and then let FM
calculate the price. This will avoid the
rounding going into the share balance, which can
sometimes create a very small number of owned shares. In order to make this more user-friendly, here is
what I have in mind for FM 4.0... The user
can now adjust the number of displayed significant
digits for all reports, graphs, and for the data
register (Edit/All Data...). This range is
adjustable from 0 to 6 significant digits. FM
would only record share balances up to the 6th
significant digit. FM will still always require
that the price * shares = value, so if FM
reaches it's limit of rounding in the shares
field (6 digits), in order to keep the above equation true FM would continue the rounding, when necessary, into the price field. This is
the same effect, as if you currently record the
value and shares, and let the price field be
adjusted by FM. This will allow the user to
see all of their recorded shares, since you can
see to the 6th significan digit, and nothing
will be recorded past this point either. Comments
welcome...
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