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Comment by amir734jj | Hacker News Reader

I used to work in a large investment firm with billions in assets. We used Bloomberg API and Bloomberg terminals. It's near impossible to get rid of Bloomberg monopoly in this sector. It's not just data, it's access to data and chat early before something happens to the market. I remember there was a fire in California and before anyone (including major news networks) know who caused the fire they (Bloomberg chat) knew California energy company caused the fire. The companies that pay for Bloomberg terminals are making billions, paying $20k for one Bloomberg terminals is nothing for them.

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This isn't for those companies.

Who is it for then? The people who will lose money to those companies?

Looks more like Yahoo Finance than Bloomberg Terminal. Maybe this is for people who hate all the ads and pop-ups at Yahoo.

> knew California energy company caused the fire

ok - but please be aware that determination of cause and origin of a major fire is similar to aircraft safety, rail safety or other .. actual liability is not obvious, and not a legal fact until it is written.

second, there have been instances of corruption. The liabilities are very large. Bloomberg data might repeat market rumors?

Legal fact doesn't matter one bit AT ALL to knee jerk reactions in the market. Obviously the people were trying to find out which company presumably caused the fire so they could short their stock. They might only short it for minutes or hours but getting in to that trade early is critical.

Also many investment firms get BB for "free" using soft dollars -if you spend more than X with broker Z, they will pay your terminal.

Also their APIs suck hairy balls, IMO that's the space in which disruption is more likely to happen.

This incorrect. The supply(data) and demand(distribution channel) are so entrenched the customers and end users will mostly laugh at you for even offering. You want competitors to laugh, not customers.

r/wsb is effectively the same thing from the chat side. if you don't mind the rocket and eggplant emojis.

WSB has been pretty useless since GameStop happened (imho). It's just memes these days, no real trading talk. I'm sure the actual traders all packed up and moved somewhere, but wherever it is, I sure wasn't invited.

Became worse for the bbby rug pull. Most people who make money just browse for lulz, rest of them are loss porns

WSB et al are all still valuable places to discover stocks. It's just that you need to be on there 24/7 to get anything useful.

I run an algorithm that does pretty advanced pattern recognition on internet discussion to find stocks as they're about to increase in price. And it works. Well.

History is here: https://feetr.io/

WSB literally lost to a goldfish https://www.youtube.com/watch?v=USKD3vPD6ZA&t=13s

Long term, for sure it's not fantastic, but short term it can be great. Of course it's not as simple as just buying the most mentioned stock.

You might find this interesting, I run a leaderboard of the highest-ranked US stocks based on their fundamentals and profitability for the last 10 years. Its here https://decodeinvesting.com/leaderboard

Thanks, I do, actually. It's a really neat tool! I'm quite into the stock analysis page. The idea of stocks having innate value is the polar opposite of what I'm doing but I can definitely see a market for what you're offering, and I wish you the best of luck!

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