Quick question, is most of the data provided by Bloomberg terminals available from FactSet? I don’t really use Bloomberg much, I’m trying to build an argument to get rid of Bloomberg and another tool we have in favor of FactSet.
Would not do that if I was you… FactSet is ala carte for alot of stuff and the costs tend to add up fast. Bloomberg is the industry norm with a vast amount of data. It just needs to be harnessed. You will always need at least 1 BB. Plus many people love the BB directory/News/BB mail. If anything… I would add Cap IQ to Bloomberg. Cap IQ is much cheaper than FactSet and is up and coming.
Depends on the data you are looking for, what sources and how you want to use the data. Screening across a universe of companies FactSet wins, quickly identifying competitors and comps Bloomberg has a slight edge. Building spreadsheet models will depend on teh data required for the model. For fundamentally driven models I find FactSet easier to deal with but if the model has to cross asset classes Bloomberg wins.
by FactSet, do you mean Factiva Dow Jones?
I_Passed_Level_1 Wrote: ------------------------------------------------------- > by FactSet, do you mean Factiva Dow Jones? No it is an independent company focusing on market data.
I guess I will need to find out a little more about what the PM is using Bloomberg for specifically. My assumption is not much. I wasn’t even aware that fundamentals were available on Bloomberg, as I said I haven’t used it in a while. The idea is that if I can convince the PM of our investments (corp treasury) to switch, both of our groups (I am in corp dev) could utilize one interface (factset) and save some cash plus have a better interface (for my group at least).
I have never used Factset, I used bloomberg for about 1.5 year while in school and once you get over the initial learning curve (for me it was about 2 months, for some classmates it took 6 months) then you realize how powerful of a tool it is.
nuppal Wrote: ------------------------------------------------------- > I have never used Factset, I used bloomberg for > about 1.5 year while in school and once you get > over the initial learning curve (for me it was > about 2 months, for some classmates it took 6 > months) then you realize how powerful of a tool it > is. 6 months? were you going to school with senior citizens?
I_Passed_Level_1 Wrote: ------------------------------------------------------- > nuppal Wrote: > -------------------------------------------------- > ----- > > I have never used Factset, I used bloomberg for > > about 1.5 year while in school and once you get > > over the initial learning curve (for me it was > > about 2 months, for some classmates it took 6 > > months) then you realize how powerful of a tool > it > > is. > > > 6 months? were you going to school with senior > citizens? We weren’t on the machines all day everyday. For some the exposure was limited. For instance, I wanted to learn the program as quickly as possible so it could help me writing ER reports. Some only used it when a project required access.
I used FactSet for over 8 years and Bloomberg for over 4. Most PM’s would take Bloomberg over FDS for portfolio monitoring. FactSet is more oriented towards the research analyst.
Bloomberg is a third world platform compared to Factset. I use Factset’s PA2 for attribution/monitoring and nothing that Bloomberg has put forth can even come close to matching it.
If I was you, I would avoid doing this at all costs. Most PMs don’t want to switch from something that is working. If something happens after the switch, it will fall on you. In addition lots of people love BB Mail. The other thing is if someone loses their job, BB gives you the terminal for free to help you find jobs… With FactSet all that is gone. From what it sounds there is little benefit to the other group, it’s more for the benefit of your group to save some $$$ by consolidating. That is the big push now from vendors. What they don’t tell you is once you consolidate, there’s no competition, so come Jan you are getting an increase. By having competitors both in your company, rates stay low. Of course if you want to date the FactSet salesperson/consultant, just ask her… No need to get your company to pay more to see her more… 
artvandalay Wrote: ------------------------------------------------------- > I guess I will need to find out a little more > about what the PM is using Bloomberg for > specifically. My assumption is not much. I wasn’t > even aware that fundamentals were available on > Bloomberg, as I said I haven’t used it in a while. > > > The idea is that if I can convince the PM of our > investments (corp treasury) to switch, both of our > groups (I am in corp dev) could utilize one > interface (factset) and save some cash plus have a > better interface (for my group at least).
Bad idea. I would be really pissed off if someone took away Bloomberg here. I imagine people at other firms would react in the same way. This is a quick way for you to make enemies.
Our PM is pretty old and crotchety, I would be surprised if he really was utilizing the full functionality of Bloomberg. It is my quest to confirm this, make sure FactSet can meet his needs, make the pitch to save some coin. Or go down in trying…
artvandalay Wrote: ------------------------------------------------------- > Our PM is pretty old and crotchety, I would be > surprised if he really was utilizing the full > functionality of Bloomberg. It is my quest to > confirm this, make sure FactSet can meet his > needs, make the pitch to save some coin. Or go > down in trying… So is the sales person/consultant u are trying to pick up hot? Even if everything works… watch for Jan (if not this then next year) when your rates increase since you only have one platform and it will be harder to switch away…
Bloomberg is to Factset as CFA is to MBA… Hope this helps clarify!