The Random Rant

Here's a new series of posts where we rant about whatever topic we may choose.  Today I want to talk about Bloomberg.

I have always been a believer in Bloomberg being "the" best financial tool available.  Today absolutely solidified that opinion and after my hour on the system, I have to reiterate how amazing the Bloomberg service is.  I uploaded my Equity Research Coverage on the blog last week, (it is available for your reading at the bottom of the page) and mentioned that the second paper would be posted later this week.  Well, in my data gathering for that paper, I pulled up my account on the Bloomberg Terminal.  Being a Bonaventure Student, I get free access to the terminal.  I needed to fill in about 7 or 8 pieces of data for 200 securities, and had planned out about 4 hours for the process.  Two companies in to my data gathering I became extremely bored.  One of the most amazing tools on the Bloomberg is the Help Function (double clicking the HELP key).  This function connects you to the service desk where you speak to a very knowledgeable service representative.  I asked him if there was an easier way to compile this data.  I was expecting him/her (I didn't know, and they don't tell you) to say no, or be completely incompetent like so many other customer service representatives tend to be -- I am sorry if I am offending anyone.  Not only did their representative know exactly what I was looking for, this genius basically populated all of the fields for me.  When I received my next "IM" it had all of my fields completely filled.  It saved me approximately three hours and forty-five minutes.  If you are a financial professional with the financial means to afford this service (it is extremely expensive, but not at all overvalued) then I would absolutely suggest it.  If you are a Bonaventure student, or a student of any other University that has access to this tool, and you are not already using the Bloomberg, then you are crazy.  It is the most universally known financial information service on the planet, and offers a number of other useful tools.  Students specifically, there is a function called Bloomberg University (BU Go) that allows you to become certified in any one of the following market sectors: Equities, Fixed Income, Currencies, or Commodities.  What better way for you to distinguish yourself at an interview than saying I am Bloomberg Certified.  Seriously, this is the coolest most useful tool out there, and if you are not taking the opportunity to use it, then in the words of the men's soccer team head coach Mel Mahler, "SHAME ON YOU!"

Learn more at Bloomberg's Website

Kevin