4 ms·

Can you give an example? Not that I don't believe you.

FabHK 10y ago
Ok, look at the Thai Baht exchange rate: http://finance.yahoo.com/quote/THB=X/?p=THB=X http://finance.yahoo.com/quote/THB=X/?p=THB=X You see the graph on the right, it hovers around 30 USD/THB (that's 30 THB per USD, in somewhat confusing FX convention). Now click on 5Y, then click on 10Y, and compare. The 10Y graphs probably includes some wrong blip around 700, which is why the 10Y graph scale is from 0 to 750, and you just see a basically flat line displayed at the bottom. (The 10Y PHP graph is fine, while the 10Y INR graph has a similar issue). So, if you do any trading strategy where you're trying to figure out whether your current value is relatively high or low by comparing it to the 10Y max and min, you'll most likely be off. Or consider equity, for example. To properly deal with shares, you first need the trading calendar for every exchange (when is the exchange open and you can make a trade), and the settlement calendar (when will the shares actually be settled). US settlement is typically T+3, Europe T+2, UK Gilts T+1, but all according to certain calendars, naturally. These calendars vary by country, and even exchange and even function (in other words, there might be days when shares at a certain exchange trade, but don't settle, and vice versa). Bloomberg has all these details - good luck finding it on Yahoo or anywhere else, really.
- rxm 10y ago
  Thanks for the example. What you just did is one of the hardest things to communicate about data. A casual user would never notice this. I find "data curation" doesn't always get the importance it deserves.
  - FabHK 10y ago
    Oh, man, tell me about it! To get from raw data to data you can use can be a hard, tedious and difficult slog. I agree that it's often undervalued. On the other hand, with Bloomberg you certainly pay for it! :-) And don't get me started with corporate actions (stock splits, mergers), dividends (some jurisdictions announce gross divs, Australia announces net divs; Korea announces AFTER the ex-date; some shares pay a dividend in a ccy different from the ccy the shares are denominated in, etc.), unscheduled exchange closures (due to terrorism, typhoons, etc.), stamp duty and taxes, 1 week holidays for Chinese New Year that screw up the rate curve (because 1d and 1w LIBOR cover the same period), quanto futures, etc.
    - maksa 10y ago
      And time zones. And daylight savings. Oh my oh my. And Asian trading sessions with a lunch break in the middle.
      - FabHK 10y ago
        Haha, I loved the HK trading day with a 2h lunch break! 2.5 hours in the morning (10:00 to 12:30), 1.5 hours in the afternoon (14:30 to 16:00), who needs more than 4 hours trading a day? Shame they extended it in 2011.
- maksa 10y ago
  Yes, data cleanup and maintenance is why proprietary data vendors still survive.

FabHK 10y ago

Ok, look at the Thai Baht exchange rate: http://finance.yahoo.com/quote/THB=X/?p=THB=X http://finance.yahoo.com/quote/THB=X/?p=THB=X You see the graph on the right, it hovers around 30 USD/THB (that's 30 THB per USD, in somewhat confusing FX convention). Now click on 5Y, then click on 10Y, and compare. The 10Y graphs probably includes some wrong blip around 700, which is why the 10Y graph scale is from 0 to 750, and you just see a basically flat line displayed at the bottom. (The 10Y PHP graph is fine, while the 10Y INR graph has a similar issue). So, if you do any trading strategy where you're trying to figure out whether your current value is relatively high or low by comparing it to the 10Y max and min, you'll most likely be off. Or consider equity, for example. To properly deal with shares, you first need the trading calendar for every exchange (when is the exchange open and you can make a trade), and the settlement calendar (when will the shares actually be settled). US settlement is typically T+3, Europe T+2, UK Gilts T+1, but all according to certain calendars, naturally. These calendars vary by country, and even exchange and even function (in other words, there might be days when shares at a certain exchange trade, but don't settle, and vice versa). Bloomberg has all these details - good luck finding it on Yahoo or anywhere else, really.

rxm 10y ago
Thanks for the example. What you just did is one of the hardest things to communicate about data. A casual user would never notice this. I find "data curation" doesn't always get the importance it deserves.
- FabHK 10y ago
  Oh, man, tell me about it! To get from raw data to data you can use can be a hard, tedious and difficult slog. I agree that it's often undervalued. On the other hand, with Bloomberg you certainly pay for it! :-) And don't get me started with corporate actions (stock splits, mergers), dividends (some jurisdictions announce gross divs, Australia announces net divs; Korea announces AFTER the ex-date; some shares pay a dividend in a ccy different from the ccy the shares are denominated in, etc.), unscheduled exchange closures (due to terrorism, typhoons, etc.), stamp duty and taxes, 1 week holidays for Chinese New Year that screw up the rate curve (because 1d and 1w LIBOR cover the same period), quanto futures, etc.
  - maksa 10y ago
    And time zones. And daylight savings. Oh my oh my. And Asian trading sessions with a lunch break in the middle.
    - FabHK 10y ago
      Haha, I loved the HK trading day with a 2h lunch break! 2.5 hours in the morning (10:00 to 12:30), 1.5 hours in the afternoon (14:30 to 16:00), who needs more than 4 hours trading a day? Shame they extended it in 2011.
maksa 10y ago
Yes, data cleanup and maintenance is why proprietary data vendors still survive.