Their belief indeed.
I know a few finance companies. Once upon a time they had a bunch of Bloomies. Now they either have one or none.
And no, their performance doesn't suffer as a result. And no, its not because they can't afford it.
No one *needs* a Bloomberg to make money.
But it does make things more convenient. If they don't have information, and you request it, they will find a way to get it.
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