No. of Recommendations: 11

Many of you have inquired about adding the ability to track cash positions to MyScorecard. While this request falls into the category of portfolio management for which we’re seeking a solid technology partner, we believe that there’s a good short-term solution that you can use right away.

Our recommendation for the time being is to add a position to your MyScorecard for the ticker BIL. BIL is the Barclays Capital 1-3 Month T-Bill which has very low volatility and a very consistent price. See chart on Yahoo Finance:

The current price for BIL is $45.86. So if I need to show that I have $50,000 in my portfolio, I would add BIL to MyScorecard and then edit the number of shares to 1090.275 (that’s 50,000/45.86) and set the date to when I want to begin tracking that cash in my portfolio’s performance. This will ensure that your allocations and returns are appropriately calculated to include your cash position.

As you add to or remove from your cash position, you’ll need to manually adjust the number of shares as you do now when you receive a dividend that you reinvest. We hope this is a good short-term solution as we work towards building out a more robust MyScorecard.

Let us know if you have questions or comments by responding to this post.

Fool On,
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