After months of work, we are finally ready to officially release OpenBB Terminal 2.0. Find a summary of the major features of this release in this blogpost and if you wish to view the webinar that goes further in detail, please have a look here.
Why OpenBB Terminal 2.0?
More than an application. A platform. Just like ACAI, this update is going to be delicious. 🤤
OpenBB Terminal 2.0 offers:
- Accessibility - Access multi-asset global investment research data from a single SDK
- Creativity - Get creative by building dashboards on Voila and/or Streamlit powered by OpenBB
- Automation - Optimize your investment research workflow reports to focus on what matters
- Innovation - Build powerful forecasting models using state-of-the-art ML models
But wait, what does this mean?
Access multi-asset global investment research data from a single SDK
Over the past few weeks, we have been refactoring the entire codebase under the hood. The reason? We aren’t joking when we say that we want to make investment research accessible to everyone. That includes (quant) developers and academics who want to leverage a single SDK to access any type of investment research data - whether we talk about a stock in Brazil, a mutual fund in Sweden, NFTs or interest on Google for the word 'covid'.
Users from all over the world can now interact with our single OpenBB SDK which has the same architecture as the OpenBB Terminal.
Install our OpenBB SDK with:
pip install openbb
See more documentation on our OpenBB SDK here
See more notebook examples here.
Get creative by building dashboards on Voila and Streamlit powered by OpenBB
When I started this journey, I wanted to be able to play with investment research data to create my own dashboards, and reports from scratch.
What I found was a very scattered ecosystem where I was spending hours installing new modules and learning their architecture and how to interact with them.
As a retail investor and seeing the community (thanks r/Superstonk) coming together to share insights on what assets to invest, I couldn’t believe people weren’t joining forces to create such project. That is how Gamestonk (now OpenBB) Terminal started.
I am proud to finally say that this is possible. In the OpenBB Terminal 2.0 you will have a dashboards menu which should contain examples of interactive dashboards powered by Voila and Streamlit.
But you can develop your own frontend application using any technology you wish, in the examples below, we also share showcases of users building applications on Power BI and Next.js + FastAPI.
If you are an enterprise and want to know more, email us at email@example.com so we can discuss.
Optimize your investment research workflow reports to focus on what matters
As much as I love Reddit, Reddit shouldn’t be the place where users look for due diligence on an equity. Most importantly, content creators shouldn’t have to spend hours gathering fundamentals, insider trading, dark pools, short interest data,… over and over again for multiple tickers. Analysts and financial content creators should be able to automate the way they gather this data and focus on providing their insight on it - which is where they are adding value. This is what OpenBB reports is set to accomplish.
In addition, as human beings, often is hard to decouple our feelings from our investment thesis. Or is easy to get a bias towards certain equities. Personally, this allows me to think more rationally about my investments and make better investment decisions. This is why we introduced the concept of key performance indicators (KPIs).
Our reports allow users to create complex KPI indicators. This short list of KPIs should allow users to decide whether to look further into the report or make a decision straight off those conditions.
Our reports menu has a couple of examples here that have been added by our team, feel free to use them as a template. Example below,
As an example of a KPI we can check whether an insider trader sold on the last 30 days or if applying a linear regression to stock price on past 30 days is positive, or a combination of multiple conditions. Creativity is the name of the game.
Note that you are able to add comments on this report and share with others. 🌎
Build powerful forecasting model using state-of-the-art ML/AI models
ML/AI has revolutionized pretty much every industry. However, most of the financial world still relies on antiquated investment research platforms that do not support ML/AI technology.
Additionally, when looking into equity price predictions, most of academia still use past performance to forecast prices.
By now (we hope) that every investor knows that historical price data is not enough to predict stock price.
With access to more investment research data than ever, state-of-the-art ML/AI models should be able to better model asset prices, predict macro economic events or extrapolate sentiment from social media.
Being a startup with hunger (açai bowl 🤤) to disrupt the industry we didn’t want to stay behind.
So, for the first time, instead of relying on the ML/AI model from website X that says that stock Y will moon tomorrow, OpenBB Terminal forecasting menu will allow you to:
- Select state-of-the art models (such as RNN, LSTM and other?)
- Combine multiple financial time series when training said models
- AND, more importantly, due to the open source nature of the terminal - you will be able to see all inner workings.
More documentation can be found here.
Load any asset class from their own menu and take it directly to the forecasting menu, or load any external dataset you may have from the forecasting menu.
Perform feature engineering quickly on top of these raw datasets to be used by the AI models available.
Select the AI model of your choice, import multiple datasets, tweak its hyperparameters and forecast any financial timeseries.
Where finance meets AI. 🤝
There are other exciting features that this release contains. Unfortunately, they didn't made it to the podium:
- New Futures menu;
- Powerful autocompleter;
- API keys are saved between installers;
- Automated docker releases;
- Data sources menu allows to check all data sources behind each command and to select default;
- Exported data, user settings and customization folder lives outside the repository;
- Easily customize terminal theme;
I keep saying that we are just getting started, but we are. There’s so much more we want to accomplish and have on our roadmap.
Any feedback on the OpenBB Terminal or on any of the new features is highly appreciated.
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Rewrite the rules, change the game. 🦋