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<span class="pageheader">GainsKeeper In The News</span><hr>
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<span class="note1b"><FONT COLOR="black">Wall Street Journal</FONT></span> &quot;We live in<br> a fluid world and GainsKeeper<br> tracks that fluidity for you.&quot;
<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<a href="#WSJ"><IMG src="images/WSJ1.gif" border="1" alt="Wall Street Journal"></td>
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<span class="note1b"><FONT COLOR="#A80008">BusinessWeek</FONT></span> readers,<br>see why Bob Barker calls<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; GainsKeeper<br><a href="" onclick="return(Click(''))">A Capital-Gains Miracle Worker</a></td>
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<span class="note1b"><FONT COLOR="#008000">Bloomberg Radio</FONT></span> - listen for<br>GainsKeeper's feature.
<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<IMG src="images/bloomradio.gif" border="0" alt="The Montley Fool" width="115" height="35"></td>
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<span class="note1b"><FONT COLOR="#000099">Barron's</FONT></span> readers, see the <br>12/29/99 "Electronic Investor"<br>to read why GainsKeeper is a <br>top resource for investors.</td>
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<center>Click <a href="GKmedia.asp">here</a> to read our users' feedback on GainsKeeper's service!</center></span>
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<tr><td><span class="Pageheader">Record Keeping for Accurate Returns</span><br>
<span class="note1b"><!--April 27, 2000<br>-->By Ann Coleman (TMF AnnC)</span><br><br>
<span class="note1">You know, I get a lot of e-mail, and quite often I get very sweet e-mail thanking me for some bit of information that I have passed along. Now, this sounds really corny, but today I want to thank you. As teachers often say (the good ones, anyway), I've learned far more from this job than I've taught.
<br><br>
What is inspiring my burst of gratitude today are notes from several readers who wrote to tell me about a new website called GainsKeeper.com. The site launched in January and appears to be the answer to an investor's dream. Besides tracking investments and producing a Schedule D for you, it automatically adjusts your holdings for "corporate actions" like splits, spin-offs, mergers, name changes, etc., and keeps you honest regarding the wash sale rules.
<br><br>
I haven't had a chance to use it a lot -- I have to admit that the set-up process needs some more usability testing, and a few "Next" buttons would be appreciated. But that's the kind of thing any new website will face. However, it did accurately track the splits and name change of JDS Uniphase (Nasdaq: JDSU) , my toughest test stock.
<br><br>
Right now, you can register and use the site for free, although I gather from their news releases that they may begin charging for the service, or possibly only for a "professional" version of the service, at some time in the future. Also, you should be aware that it can only provide adjustments for corporate actions that took place after January 1, 1999. It's not going to bail you out if you're trying to track down the true costs basis of those AT&T shares you bought in 1981.
<br><br>
I haven't yet decided to abandon my spreadsheet and transfer everything to GainsKeeper, but it is certainly a possibility. I've been grousing for years about the poor record keeping provided by brokers, so when I come across something that appears to be exactly what I've been thinking we need, I'd be pretty dumb not to give up my spreadsheet, no matter how fond I am of it.
<br><br>
But I'm stopping short of an out-and-out recommendation. Besides the awkward set-up process, which I'm sure they will fix, I haven't yet found any way to calculate a Compound Annual Growth Rate (CAGR). I assume it's in there somewhere, but I can't find any mention of it. Also, the site appears to track only investment holdings. I haven't found a way to deal with the cash in a portfolio. OK, so it's not the full and complete answer to my dreams, but it's a big step in the right direction -- a direction mostly ignored by brokers. GainsKeeper hopes to partner with brokers -- now that would be a dream come true. Buys and sells could be automatically entered. All you would have to do is trade. I could throw away those stupid stapled buy and sell confirmation slips!
<br><br>
But CAGR is absolutely the one thing I think people must know about their investments. If you don't know how your account is growing, how can you possibly evaluate your performance? Our most basic Foolish advice is that you should not continue to invest in stocks unless you can beat an index fund over the long-term. How do you know if you are doing that?
<br><br>
The only way I know of is to calculate your annualized returns. I'd have to keep my spreadsheet for that reason alone, if I can't find that function on GainsKeeper. Which brings us back to the spreadsheet we were discussing on Monday. That will give you a CAGR for each stock and your portfolio as a whole. By the way, I've put up a new version, complete with accurate formulas (one more thing to thank the readers for) and some expanded instructions. Yeah, I got suckered into trying to make it actually useful for people, which I am sure I will regret given just how limited its usefulness is. But at least it does CAGRs.
<br><br>
Most portfolio trackers will show your total return for each stock, but I am not aware of any that calculates a CAGR for each stock. Actually, that may be smart. The CAGR for short time periods can be very misleading. Any CAGR that covers a period of less than six months should be disregarded completely. When you are looking at one stock only, even a period of one to two years is more "interesting" than meaningful. CAGR is far more useful for true long-term holdings or for your portfolio as a whole.
<br><br>
Two different formulas for calculating CAGR are used in the spreadsheet. The one for individual stocks uses the total return and the holding period. This one you can even do with pencil and paper -- and a fairly advanced calculator. Here's how:
<br><br>
Find your total return by dividing your net proceeds (or current value) by your cost basis. (Notice, we aren't using the price per share. That way lies madness. If you've done a partial sale of your holding, adjust the cost basis.) Then you take the X root of your total return where X is the inverse of your holding period. Lost you with that one, didn't I? The inverse of your holding period is simply 365.25 (the number of days in a year) divided by the number of days you've held the stock. For example, if you've held a stock for exactly two years, that fraction would be 0.5 (365.25/730). This is where you need the advanced calculator. Fractional roots require a bit more chip power than just taking the square root, but it's the same idea. (The Windows calculator will do this in Scientific View.) Once you have your X root, subtract 1 and convert to a percentage.
<br><br>
When it comes to figuring out the CAGR of your whole portfolio, you can use the same method substituting your starting and ending balance for the cost basis and net proceeds IF you haven't added or subtracted any cash. If you have, then things get complicated, and it's really time for either a calculator that does cash flow analysis or a spreadsheet with the internal rate of return function. That's what I use and it's quite nifty-cool. You just enter your starting balance and all deposits and withdrawals along with the corresponding dates. Then you put in your current balance (as a negative number) and boom, a CAGR is calculated that adjusts for your cash activity.
<br><br>
Does that make you think "Hmm? Beardstown Ladies?" That's right. Somehow their cash deposits got counted as investment returns. It's pretty easy to beat the market if you are allowed to do that. But you're not.
<br><br>
Fool on and prosper!
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<tr><td><span class="Pageheader">Online Portfolio Monitors Help Investors Avoid Some Frustration</span><br>
<span class="note1b">By STACY FORSTER</span><br>
<span class="note1">WSJ.com<br><br>
Once upon a time, investors who wanted to know how their portfolios were affected by stock market's gyrations had to call their brokers or wait for an account statement -- which came monthly or quarterly.
What a nerve-wracking wait that could be -- especially for those investors who wanted to know whether they would need to make some drastic changes in their financial lives or how their tax bill was adding up.
<br><br>
But these days, thanks to the Internet and a proliferation of online portfolio monitors, investors can follow the changes in their stock-market wealth blow by blow like spectators with ringside seats at a boxing match.
Mutual fund firms, Internet brokers and a host of independent financial-planning Web sites offer investors a range of online portfolio trackers to help them monitor the changing value of their investments. Many are free.
<br><br>
Some are basic, tracking the prices for a list of stocks and calculating the gains and losses in an investor's portfolio. Others are more sophisticated, adjusting for stock splits and dividends, for example. And some enable investors to track options and even stocks that trade on foreign exchanges.
Because they have become so ubiquitous, sites are rolling out portfolio monitors with features that they hope will set them apart from the pack, such as real-time tracking, research, charts and e-mail alerts that notify investors of important developments involving their portfolios.
<br><br>
The choices can be pretty overwhelming though, making it tough for investors to select.
Wayne Thorp, a financial analyst with the American Association of Individual Investors in Chicago, says investors should first consider their own unique needs. While most investors want a portfolio monitor that updates information frequently, others might look for extras, such as links to their brokers to make trades, or customized information or newsletters.
<br><br>
One of the newer sites is <B><FONT color=#660000>GainsKeeper.com</FONT></B>, which was launched early this year. The site boasts that it helps investors deal with the &quot;complicated administrative headaches of tax reporting.&quot; It keeps track of trading information and portfolio changes so that investors can easily calculate capital gains taxes and losses.
<br><br>
<B><FONT color=#660000>GainsKeeper</FONT></B> monitors investors' holdings and updates them for any company actions, or changes to a security, such as a name change, dividend or stock split, or more complicated things like reverse splits, mergers and spin-offs. It constantly adjusts the cost basis of its users' stock holdings, so that any time they log in, they can see capital gains or losses.
<br><br>
&quot;The biggest administrative hassles are tracking cost basis versus capital gains and to calculate capital gains,&quot; says Robert Sterling, a financial services analyst with Jupiter Communications. &quot;We live in a fluid world and <B><FONT color=#660000>GainsKeeper</FONT></B> tracks that fluidity for you.&quot;
<br><br>
Many online investors have been disappointed to find out at tax time how frustrating the process can be figuring out their tax liabilities. Investors have to sort through mountains of paperwork to calculate their gains and losses on specific trades because some online brokers don't provide consolidated statements with the information.
<br><br>
Indeed, this past tax season, Mr. Thorpe, of the American Association of Individual Investors, says he &quot;did not run across a polite word said about the information you get from a broker.quot;
<br><br>
Gainskeeper's co-founder and chief executive, Duncan Routh, says the idea for the site grew out of his frustration as an investor. Mr. Routh says Gainskeeper provides individual investors with portfolio tracking services similar to what brokerage firms give their institutional clients.
<br><br>
Investors who use the free service are impressed. But some complain that the site doesn't import data from their brokerage accounts, instead, requiring them to enter the information manually. Gainskeeper says it's working with brokerage firms to automate the data.
<br><br>
While many other portfolio monitors use quotes that are delayed by about 20 minutes, some also are starting to use real-time tracking, hoping to satisfy investors' needs for up-to-the-minute information. Money.net (www.money.net) is one of them. The site, which is free, also gives users the ability to trade stocks, pay bills or purchase insurance. It also provides links to extensive financial news and research.
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<tr><td><span class="note1b">March 28</span>
<span class="note1"> -- Time for today's Cool Web Site. This is another so-called portfolio tracker that helps you keep track of your gains and losses for tax purposes.
The site is called GainsKeeper. You enter all of your trades as they are executed and the site keeps track of short term gains and/or losses. It also keeps track of your cost basis, stock splits, mergers, spin-offs and other factors that can complicate your life.
<br><br>
If you have discovered the horror of filling out the dreaded IRS form, Schedule D, without having all of the necessary paperwork, you might want to try a site like GainsKeeper.
<br><br>
The address is www.gainskeeper.com. And don't forget to visit CNBC.com's Tax Center as well, which provides you with many tools, including stock and mutual fund calculators.
<br><br>
Happy surfing!
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<tr><td><span class="note1"><i>Taxing Times</i></span>
<span class="pageheader"><br>Free software investors will love</span></td></tr>
<tr><td><span class="note1">By <a href="mailto:pmaclean@sirius.com">Pam MacLean</a>, CBS MarketWatch</span></td></tr>
<tr><td><br>
<span class="note1">QUINCY, Mass. (CBS.MW) -- GainsKeeper.com
will celebrate New Years by launching a free, online system that could cure a monstrous
headache for active traders by tracking the tax effects of wash sales, splits, spinoffs
and mergers. If the system lives up to its promise, it could surpass any other system
available to individual investors for tracking taxable events.</span><br><br>
<span class="note1">In a demonstration for</span> <span class="note1b">CBS.MarketWatch.com</span>, <span class="note1">CEO Duncan Routh displayed
a sample portfolio that automatically accounted for a corporate merger that affected one
stock in the account.&nbsp; The software also adjusted the gains and tax liability. By
recording a simple stock sale, the portfolio readjusted the value and the current tax
liability. The site won't offer full-fledged service until January, but visitors will be able to
tour a demo and pre-register for the service on Monday, Routh said.</span>
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<font face="Arial" color="#008000"><strong>For short-term investors and day traders who
are constantly in and out of stocks, the tracker will watch out for wash sales.
</strong></font>
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<tr><td><span class="note1b"><br>Cost bases</span><br></td></tr>
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<span class="note1">Routh, who co-founded the firm with President Chad Cook and brother Cameron Routh,
began creating their tracking tool, called&nbsp;GainsTracker, in 1998 as the first
automated means of adjusting cost bases for investments.<br><br>
While most portfolio trackers require the user to manually adjust for corporate changes
and determine holding periods, GainsKeeper's tools do it automatically.&nbsp; This gives
investors a real-time view of their tax liability, which helps them make better investment
decisions. <br><br>
Investors logging in when the system starts up will have to record their buys and
sells. The tracker will automatically keep up with corporate actions such as splits or
mergers, readjusting the portfolio automatically.<br><br>
Ultimately, GainsKeeper wants to license its software and monitoring services as
backshop operations for on-line brokers, to Web sites and Internet service
providers.&nbsp; This would eventually allow automatic portfolio tracking of&nbsp; buys
and sells via an on-line brokerage account, without investor recording of individual buys
an sells.<br><br>
Routh said they would also be able to act as an independent aggregator for investors
with multiple brokerage accounts.&nbsp; Someone with an accounts at a variety of brokers
would have all the information tracked in one spot.<br><br>
As for confidentiality of account information both for the on-line brokers and
investors, &quot;we want to be the Switzerland for on-line brokers,&quot; Routh said.
&nbsp; Accounts are password protected and GainsKeeper &quot;will not sell or otherwise
distribute information about its individual subscribers,&quot; according to a company
statement.
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<font face="Arial" color="#008000"><strong>&quot;Wash sale calculations
are constantly misunderstood by investors. </strong></font>
<font face="Arial" color="#008000"><strong>It is a calculation made for a computer.&quot;</strong></font>
<br><br><font face="Arial" color="#008000"><strong>CEO Duncan Routh</strong></font>
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<tr><td><span class="note1b"><br>What does it do?</span><br></td></tr>
<tr><td><span class="note1">Currently, investors who hold stocks long term must
keep track of stock splits and
adjust their cost basis to calculate a gain or loss when the stock is sold. Rarely do
investors track this until the sale is made.&nbsp; But if &nbsp; multiple splits and
mergers occurred years before the sale, trying to determine the tax basis becomes a
nightmare.<br><br>
For short-term investors and day traders who are constantly in and out of stocks, the
tracker will watch out for &quot;wash sales,&quot; which involves selling shares at a loss
then repurchasing them within 30 days of the sale.&nbsp; Under tax rules, the loss is
disallowed.</span><br><br>
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<tr><td><span class="note1">&quot;Wash sale calculations are constantly misunderstood by investors,&quot; Routh
said.&nbsp; &quot;It is a calculation made for a computer.&quot;<br><br>
As an example of the potential problem for a long-term investor, Routh used&nbsp;the
changes in Marriott Corp. in recent years. If you bought 300 shares of
Marriott in July 1993 for $10 a share and held it until August 1999, you would have
witnessed a 1993 split, a later spin-off and then, in 1998, another split plus a
conversion of common stock and payment of a special dividend. <br><br>
In August 1999, you would see a listing for Marriott trading at 10 3/8, suggesting a
$112.50 profit on your 300 shares. In fact, your true holdings would be:&nbsp;300 shares
of Host Marriott Corp., 60 shares of Host Marriott Services, 600 shares of Class A common
stock in Marriott International, 75 shares of Sodexho Marriott Services and 30 shares of
Crestline Capital Corp., all worth a total of $26,778.13.<br><br>
Either you keep up your notebook on each transaction or you can look to GainsKeeper to
do these sorts of adjustments automatically. Few, if any, financial software programs
automatically update positions to account for corporate actions, so the customer must know
what the company has done.<br><br>
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<tr><td><span class="note1b">Limitations</span><br></td></tr>
<tr><td><span class="note1">The tracker currently doesn't handle options trading
but is scheduled to expand to include options by mid-year 2000, according to Routh.
&nbsp; It also doesn't track back
many years for people who have held Coke or IBM since
grandma bought the stock decades ago.<br><br>
The program works with PCs but doesn't yet accommodate Mac users, although that will be
cured, according to Routh.<br><br>
When the site goes active the first of the year, Routh says investors will be able to
generate a portfolio that will account for all the corporate actions in 1999 to use for
their current tax return.&nbsp; They will need brokerage statements to plug in the dates
of buys and sells, but the tracker will take care of the messy calculations.<br>
<img src="/archive/images/pixel_black.gif" vspace="10" width="445" height="1"><br>
<em><a href="mailto:pmaclean@sirius.com">Pam MacLean</a> writes for CBS MarketWatch from
San Francisco.</span>
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<span class="note1b"><br><center>GAINSKEEPER.COM MARKS LAUNCH OF FIRST &quot;SMART&quot; PORTFOLIO TRACKER WITH FREE PROMOTION
</span></center>
<br>
<center><span class="note1b">&quot;GainsTracker&quot; Eases Record-Keeping, Automatically Adjusts Investments For Complex Processes Such As Mergers, Spin-offs And Wash Sales. Alleviates Messy Capital Gain/Loss Calculations Needed For Schedule D.
</span></center>
<br><br>
<span class="note1b">BOSTON, MA, January 11, 2000</span>
<span class="note1">
&nbsp;-&nbsp;GainsKeeper, Inc., a company developing sophisticated portfolio management tools and services for the internet, today announced the launch of its flagship product, GainsTracker. As part of its introductory promotion, GainsKeeper is offering the first year of service free to early registrants.
<br><br>
GainsTracker is the first automated solution for adjusting the cost basis of investments. Unlike current portfolio trackers, GainsTracker proactively monitors users' holdings and adjusts tax bases for complex activities like mergers, splits, spin-offs and wash sales. GainsTracker continues to track subscribers' holdings after they have been sold, allowing the tool to accurately calculate and characterize capital gains and losses for each subscriber. The reporting feature allows investors to easily complete their estimated tax payments and Schedule D of their federal tax returns.
<br><br>
&quot;Most people incorrectly assume that their current portfolio tracker or packaged software alleviates their cost basis headaches&quot;, said Greg Alves, GainsKeeper's VP Operations. &quot;Our staff's extensive experience in the corporate action departments of major financial institutions gives GainsKeeper the critical resources to correctly analyze and characterize the material changes that routinely impact most securities. 'Static' solutions simply don't offer the back office service that makes GainsTracker so unique.&quot;
<br><br>
GainsKeeper provides solutions for individuals, tax and money professionals, and financial service entities. GainsTracker relieves customers of cumbersome tax basis adjustments and capital gains calculations. It empowers investors to always know their tax situation, enabling tax-smart trading decisions. Using GainsTracker, investors can aggregate multiple accounts for proper tax treatment and planning.
<br><br>
Registration is currently underway at www.gainskeeper.com.
<br><br>
<span class="note1b">About GainsKeeper, Inc.</span><br><br>
<span class="note1">
GainsKeeper, Inc. is committed to providing the next generation of tools and services for investors. Founded in 1998, it is a privately held company based in Boston. Additional information is available by sending e-mail to <a href="mailto:marketing@gainskeeper.com">marketing@gainskeeper.com</a> or <a href="mailto:billing@gainskeeper.com">billing@gainskeeper.com</a>.
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<span class="pageheader"><br>Press Kit</span><br><br>
<span class="note1">
Click below to download the following documents in PDF format:<br><br>
<a target="_blank" href="pdf/Release2.pdf">Press Release - Release 1/11/00</a><br>
<a target="_blank" href="pdf/Release1.pdf">Press Release - Release 12/03/99</a><br>
<a target="_blank" href="pdf/GKBio.pdf">Bio's - Management Team</a><br>
<a target="_blank" href="pdf/GKFAQ.pdf">FAQ's - GK FAQ's</a><br>
<a target="_blank" href="pdf/CorpActEg.pdf">Marriott - Corporate Action Example</a>
<br><br>Click here to download Acrobat Reader©&nbsp;
<a target="_blank" HREF="http://www.adobe.com/products/acrobat/readstep.html"><img BORDER="0" SRC="pdf/getacrobat.gif" WIDTH="88" HEIGHT="31"></a>
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<td class="note8c">Copyright&copy;1999-2000 GainsKeeper, Inc. All rights reserved.</td>
<td class="note8c" nowrap align="right">&nbsp;<a target="_blank" href="Privacy.asp">GainsKeeper&copy; Privacy Statement</a></td>
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