I just discovered this channel on my journey to become a programmer after obtaining my Charter and putting it to work. I think how you laid everything out is very user friendly and conceptual. I haven’t seen a post in a while so I hope you are healthy and well.
Wow!! an unbiased approach about data subscriptions, superb contents, thank you for all the great tips. I am currently in the midst of ramping up my knowledge in the data analytics skills precisely to take on trading.
Thanks - very informative, I actually worked at 2 of these data vendors. Interesting to hear your take after years on the job. I would be quite interested in hearing a comparison of the 4 for different job roles e.g. multi asset class portfolio manager, stock analyst, derivs trader or CIO.
Hey JMO, thanks for the reply. That's a good question you ask. Most of my experience and content here in Finance relates to equities and mutual funds in a semi-quantitative/risk-managed PM fashion, so there's definitely a tilt to my final vote, but you nailed it. The decision is very role and company dependent. Lots of times we just make due with what the firm provides. Thanks again, I hope others chime in to offer their helpful viewpoints. Best, -Paul
Hey ShenChao, thanks for the question. It's a tough one to answer because each one might appeal to a different audience. For example, for those in the bond market I believe Bloomberg is most common whereas for quantitative equity folks I think FactSet and S&P CapIQ are popular. I can't really make a broad-sweeping recommendation as a result. My career focus has been in quantitative equity portfolio management so the speed and accuracy at which the firms process financial statements is important to me. Plus, hooks in to other providers of constituent-level indexes, risk models, optimization programs and risk-measurement tools has been important to me. For that type of investor one overlooked aspect is whether financial statements are Point-in-Time or not. Sometimes you pay a lot for this and other times it is built-in. Without it you're building a model with data that wasn't known in the marketplace, and what's the point of that, right? This is something worth asking about when evaluating the service providers. Also, I alluded to it, but having support from salespeople with 0-3 years of experience might be helpful for new users of the software or those starting out with investments, but for market veterans this 'support' is pretty much worthless. I hope that helps and thanks again for taking the time to comment, I wish more people would. -Paul
I really like your videos but as always there is so much noise when it comes to investing especially for retail investors. Alpha is a meaningless variable when it comes to a long short portfolio and a portfolio can't end up with cheap stocks because their is no cheap nor expensive. It can only end up with stocks on a discount or premium for a reason. National Statistic data can be obtained easily through API's publicly available, asset specific consensus sell side data can be purchased at least for US plus some ADR's and the rest is a matter of collecting data from a 8-K shareholders letter when stocks have been identified by valuation multiples. Most important is to understand the environment you're operating in and to define your mandate to get an edge. "Most men use their knowledge only under guidance from others because they lack the courage to think independently using their own reasoning abilities. It takes intellectual daring to discover the truth." IK Thanks for your videos! Best
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I just discovered this channel on my journey to become a programmer after obtaining my Charter and putting it to work. I think how you laid everything out is very user friendly and conceptual. I haven’t seen a post in a while so I hope you are healthy and well.
Wow!! an unbiased approach about data subscriptions, superb contents, thank you for all the great tips. I am currently in the midst of ramping up my knowledge in the data analytics skills precisely to take on trading.
Thanks - very informative, I actually worked at 2 of these data vendors. Interesting to hear your take after years on the job. I would be quite interested in hearing a comparison of the 4 for different job roles e.g. multi asset class portfolio manager, stock analyst, derivs trader or CIO.
Hey JMO, thanks for the reply. That's a good question you ask. Most of my experience and content here in Finance relates to equities and mutual funds in a semi-quantitative/risk-managed PM fashion, so there's definitely a tilt to my final vote, but you nailed it. The decision is very role and company dependent. Lots of times we just make due with what the firm provides. Thanks again, I hope others chime in to offer their helpful viewpoints. Best, -Paul
So as of today, which big four will you recommend?
Hey ShenChao, thanks for the question. It's a tough one to answer because each one might appeal to a different audience. For example, for those in the bond market I believe Bloomberg is most common whereas for quantitative equity folks I think FactSet and S&P CapIQ are popular. I can't really make a broad-sweeping recommendation as a result. My career focus has been in quantitative equity portfolio management so the speed and accuracy at which the firms process financial statements is important to me. Plus, hooks in to other providers of constituent-level indexes, risk models, optimization programs and risk-measurement tools has been important to me. For that type of investor one overlooked aspect is whether financial statements are Point-in-Time or not. Sometimes you pay a lot for this and other times it is built-in. Without it you're building a model with data that wasn't known in the marketplace, and what's the point of that, right? This is something worth asking about when evaluating the service providers. Also, I alluded to it, but having support from salespeople with 0-3 years of experience might be helpful for new users of the software or those starting out with investments, but for market veterans this 'support' is pretty much worthless. I hope that helps and thanks again for taking the time to comment, I wish more people would. -Paul
how would "high frequency trading" (accessible only for big institutions) impact "traditional" trading (where time for analysis is needed)?
I really like your videos but as always there is so much noise when it comes to investing especially for retail investors. Alpha is a meaningless variable when it comes to a long short portfolio and a portfolio can't end up with cheap stocks because their is no cheap nor expensive. It can only end up with stocks on a discount or premium for a reason. National Statistic data can be obtained easily through API's publicly available, asset specific consensus sell side data can be purchased at least for US plus some ADR's and the rest is a matter of collecting data from a 8-K shareholders letter when stocks have been identified by valuation multiples. Most important is to understand the environment you're operating in and to define your mandate to get an edge. "Most men use their knowledge only under guidance from others because they lack the courage to think independently using their own reasoning abilities. It takes intellectual daring to discover the truth." IK
Thanks for your videos! Best