bloomberg terminal- worth the $$$ ??

N

NDQnCA

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hey everyone- i am getting a free trial of the bloomberg terminal tommorrow and want to know if it is worth its substantial cost. i was quoted a price of $1700/ month which seems rather high. they will not let you order services a-la-carte, meaning that i will not be able to only subscribe to the news service. how is their charting software (i trade arbitrage- spreads) and their execution platform??. i am happy with the software i currently use and might only use bloomberg for news. so what i really want to know is, is bloomberg the BEST news service available?? the rep claimed it consistently beat out reuters and dow jones by 2-10 minutes on news stories and as we all know, time is of the essence in trading. i have been using briefing.com which is complete garbage for news and always seems to be late. $1700 is insignificant if the news is really that much faster- i can recoup the cost easily in one trade if i can really beat others to it :D :D does anyone have any experience with bloomberg or can tell me anything about it??
thanks and good trading to you all.
NDQnCA
 
before i got it today, i PM'd and have heard from probably over 10 people total and everyone swears by it. i hope they're right, because i just had it installed today and am locked in for six months.

i can tell you that a headline came out today that said a change in Dupont's options expense accounting would slice 3 cents off of earnings going forward. i pulled up a montage and believe i had a legitimate shot to put on a bullet, NX or hit an ECN before it gapped down 50-60 cents. Dow Jones did not have the headline i mentioned, but it did have a separate non-helpful Dupont headline about 9 minutes earlier.

i figure the people on the conference call will get it first, then you have to compete with other traders that have bloomberg, but in this case, it may have been helpful. that was the only headline i saw that there was a play on (post 11:30 or so, which is when it was set up). we'll see. the jury is still out.
 
Originally posted by dafugginman
before i got it today, i PM'd and have heard from probably over 10 people total and everyone swears by it. i hope they're right, because i just had it installed today and am locked in for six months.

i can tell you that a headline today said a change in Dupont's options expense accounting would slice 3 cents off of earnings going forward. i pulled up a ticker and believe i had a legitimate shot to put on a bullet, NX or hit an ECN before it gapped down 50-60 cents. Dow Jones did not have the headline i mentioned, but it did have a separate non-helpful Dupont headline about 9 minutes earlier, but did not come out and state the earnings dilution.

i figure you have to compete with the people on the conference call or whatever, as well as other traders with bloomberg, but in this case, it may have been helpful. that was the only headline i saw that there was a play on (post 11:30 or so, which is when it was set up). we'll see. the jury is still out.
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thanks for your reply, please keep me posted on your experiences with using the service.
thanks,
NDQnCA
 
Bloomberg is a great system in just about every way. They will, however, charge you xtras for things like SMRA research, but the base package has a ton , especially if you want to start tossing around fixed income and derivatives. FWIW, I recently subscribed to esignal and you can program the news sources(DJ,Reuters and a bunch more) to give you the headlines as well as seperate news tickers for certain stocks. At $250 It might be a alternative for you if you dont go with Bloomie.
 
does anyone know if you can trade foreign markets using bloomie's execution platform?? my partners and i are thinking about delving into some overseas markets also and are wondering if the charts and trading platform are legit for it. thanks.
yes, i know there is currency risk.........but it would be great to trade openings on a few of the other markets.
 
Originally posted by NDQnCA
hey everyone- i am getting a free trial of the bloomberg terminal tommorrow and want to know if it is worth its substantial cost. i was quoted a price of $1700/ month which seems rather high. they will not let you order services a-la-carte, meaning that i will not be able to only subscribe to the news service. how is their charting software (i trade arbitrage- spreads) and their execution platform??. i am happy with the software i currently use and might only use bloomberg for news. so what i really want to know is, is bloomberg the BEST news service available?? the rep claimed it consistently beat out reuters and dow jones by 2-10 minutes on news stories and as we all know, time is of the essence in trading. i have been using briefing.com which is complete garbage for news and always seems to be late. $1700 is insignificant if the news is really that much faster- i can recoup the cost easily in one trade if i can really beat others to it :D :D does anyone have any experience with bloomberg or can tell me anything about it??
thanks and good trading to you all.
NDQnCA
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I pay $1640 per month, and it's worth every penny. Their news is usually ahead of the other feeds, but watch out for the dreaded corrections.
 
Maybe, mabye not.

But if YOU have to pay for it then mabye You ain't worth it. In ALL cases it should be soft dollared from your clearing firm.

Are there any real traders on this GD board?

Anybody??

Bueller....Bueller....Bueller .....
 
Originally posted by Dr. Zhivodka
Maybe, mabye not.

But if YOU have to pay for it then mabye You ain't worth it. In ALL cases it should be soft dollared from your clearing firm.

Are there any real traders on this GD board?

Anybody??

Bueller....Bueller....Bueller .....
More...

yeah, smartass my firm will pay for it. i just have to get it first- i just wanted to know if it is my best alternative. are you implying that i am not a "real" trader?? if so, then you don't know shit about me and are grossly mistaken. i do pretty well for myself and have without bloomie for a while, so when i get it, it will just add to my arsenal. as is so often the case on these boards, i am sure that you are the one that is not the "real" trader, or a piker as i would call you, since you feel the need to talk badly about others to feel better about yourself.

everyone else that has made worthwhile replies to my post, thank you very much and i appreciate the help. peace.
 
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