Need to order an investment software for equity research?

Water Cooler Careers
#1

Alright… I have $300,000 asset under management on the Etrade account.

My questions:

  1. Is it necessary to order software such as Bloomberg, or E-Trade itself is enough for research?

  2. Any books that focus on practical investment strategies that I need to read?

  3. Any other suggestions? Appreciate it!

#2

Is your company public? I’d like to short it.

#3

This has to be a troll.

#4

Reality is stranger than fiction sometimes. If he gives more details, this sounds like it could be an ethics violation, and maybe some FINRA violations in there for good measure.

#5

I chuckled.

#6

The CFA Code of Ethics and Standards of Professional Conduct not only allow, but encourage money managers to outsource investment management when when the investment requirements of the end-client are beyond the scope of the money manager’s expertise…

#7

This means you Saphdomiala!!!

#8

What happened to the awesome original post that was now edited into this milquetoast post? We want the original post back, please unedit.

Uhh yeah, Bloomberg is expensive and if you don’t have any experience, probably won’t help you much.

#9

Thanks bromion, you are the only one so far answered my quesitons.

I revised the original post is just bc it drives people talk out of topic and even tease about the situation… That doesn’t help.

#10

I have some experiences in Thomson Reuters. Don’t know if that helps.

Also, is there any investment forum or books that worth to read?

#11

I think people believe the market is hard (I do) and that it’s unlikely you will be successful if you are asking these types of basic questions, that’s why they are teasing you. I would exercise caution – we are probably close to a top of the market and it is very frothy, now is not an excellent time to be starting to invest for the first time. I would recommend taking it slowly.

#12

I understand it’s a hard time and the market is at its top. I don’t have ideas about the basic questions doesn’t means I will not success. I believe sometimes curiosity and profound thoughts are more important than experiences.

I really appreciate your words. I will slow it down and become more cautious.

Also thank you for all the teasing! But it will be good if you guys are willing to provide even a few advices to the person you look down upon.

#13

In all seriousness, a post claiming that:

  1. A company uses E-Trade to custody and execute one of it’s investment accounts.

and

  1. Said company handed over management of this account to someone clearly not capable of fulfilling this fiduciary duty.

is a post that can be expected to receive a bit of ribbing.

And I gave you the best posible advice of all: Let a professional do it.

No one is trying to be a dick, but the scenario you proposed is borderline unbelievable.

But to “Answer” your questions:

  1. Paying north of $1500/month for a BBG terminal is probably overkill… Sounds like you would not be using it as an OMS/EMS, and you can buy level 2/3 access from etrade for realtime data relatively inexpensively. Im sure they also have some sort of charting/screening packages available for analysis. Company filings and all that jazz are available from other sources… You would have to earn 6% a year on your 300k just to pay for BBG… i.e. Not an option as your overhead is killing you.

  2. You are asking for books on practical investment strategies? …Really? We have NO IDEA who the end beneficiary of this account is. It’s a “company” account… does that mean it’s pension assets? Does that mean its a liquid account you sweep funds into for short term investing? Does that mean your company found 300k under filing cabinets and decided to “play the markets”. What products do you plan on trading? Based on the post title it sounds like equities, but you never specified… If this is an equities only account, a book on Treasury basis strategies is basically worthtless to you… This question is the equivalent of saying your financial goals are “To make money”.

  3. Seriously… pay the ~2% per year and have a professional do it.

“I believe sometimes curiosity and profound thoughts are more important than experiences.” - Tell this to one of the countless horde of washed up prop traders who thought they could day-trade to riches.

#14

First order of business should be to brush up on that English if managing money in the US.

#15

Don’t even worry about the Bloomberg terminal costs… if this portfolio managing high flyer is earning $50k, he’s going to have to earn this firm 17% just to cover his salary.

If this is an honest thread, then here is what I think is happening: Small time consultant has some excess cash, wants to make “outrageous returns” sort of thing. Knows nothing about finance. Opens up an e-trade account and calls up this rookie because he’s a L2 candidate and he thinks that’s big time. Expects like 300% returns. Will get likely negative returns. Should be enjoyable.

There is just no way a firm knowing what its doing is hiring a guy to run $300k in an etrade account.

Even if this account balloons to $2M as he hopes, his $50k salary is still more than most would charge to manage this professionally, and that’s before any of his own trading costs + admin costs + whatever else.

This is either a disaster waiting to happen or a joke.

#16

I like this villnius cat.

#17

get interactve brokers

#18

SPY and AGG mofo. Easiest job ever.

#19

What’s all the fuss about? Was the original post edited?

#20

Good call there. I just switched to BTIG but before that I was using IB and it’s a good service.