*** Important Update ***
Please read the comments at the bottom of this post if you have been approached be Walker Thompson or are considering one of their products. Take particular note of loving mum's experience.
What do you know about automated stock picking software? The reason I ask is that I've noticed a number of visitors arriving at my blog having searched for "walker thompson trading software" (or some variation thereof). I've never used any products like this but I'm curious about how they work and how many people use this sort of stock picking software.
So I'd be interested to find out how many people have used this type of software, particularly to invest in the Australian stock market, and what their experience has been. Do these packages use fundamental analysis to pick stocks or do they use some sort of technical analysis (ie. charting/momentum/trends, etc) to spit out the recommendations of what shares to buy?
To be honest, I have my doubts about how well something like this would work over the long term. Any time I buy shares, it is only once I've not only had a close look at all of the important financial ratios but also read a couple of company's annual reports as well as any other important announcements which have been released to the ASX.
Incidentally, I've since tried to find out more about walker thompson sharemarket software but none of my searches have turned up anything interesting.