SERVING THE QUANTITATIVE FINANCE COMMUNITY

 
User avatar
obenhuber
Topic Author
Posts: 16
Joined: March 12th, 2007, 8:24 am

Bloomberg (Terminal) Manual

September 14th, 2007, 12:25 pm

Hello,Does anyone know if there are some Bloomberg manuals around (especially for the available pricing tools) ?Best,Christoph
 
User avatar
DominicConnor
Posts: 11684
Joined: July 14th, 2002, 3:00 am

Bloomberg (Terminal) Manual

September 15th, 2007, 4:22 pm

No.As a matter of explicit policy BB does not produce manuals or any form of useful documentation on any product.If documentation is found to exist they delete it.If the documentation gets into the outside world and cannot be deleted they will change the product to break the manual.
 
User avatar
chiquant00
Posts: 3
Joined: October 27th, 2005, 7:30 pm

Bloomberg (Terminal) Manual

September 17th, 2007, 8:48 pm

Why does BB adopt this draconian approach?
 
User avatar
ananihdv
Posts: 146
Joined: August 8th, 2006, 8:02 pm

Bloomberg (Terminal) Manual

September 18th, 2007, 1:00 am

QuoteOriginally posted by: chiquant00Why does BB adopt this draconian approach?So that they can make money from training.
 
User avatar
cemil
Posts: 221
Joined: September 16th, 2005, 7:44 am

Bloomberg (Terminal) Manual

September 18th, 2007, 7:47 am

Training is free!the goal of BB is to make dependant of their system to make money.
 
User avatar
DominicConnor
Posts: 11684
Joined: July 14th, 2002, 3:00 am

Bloomberg (Terminal) Manual

September 24th, 2007, 9:47 am

There are several reasons for BB making it so very hard to use their system.First is just simple incompetence. Although BB is effectively 1980s technology, (with some that is 1970s), it's remarkable that Reuters whose technology base is vastly older is far more up to date.Second it's a defensive move. By not documenting BB, it is very hard to clone it. Personally I'd sack on the spot any techie reporting to me who did things the BB way, but replicating all the bizarre ancient structures would cost a lot of money.The other defensive aspect is that now that so many front office people have invested lots of time in it, they are reluctant to do the same with a better interface.The training is free because BB wants to keep close contact with it's users/victims, and wants no voice other than it's own to have credibility.The technology is kept broken because Bloomberg is following the classic Apple approach rather than the Microsoft view.Apple and BB regard any money made through their products that they don't get as stolen, and yes they use that language.Thus Apple and BB keep things secret, and attack anyone who tries to make addons.Ask yourself why given the vast number of highly expensive users of BB, there are basically no 3rd party products ?Microsoft works on the principle that the more money people make with their products, the more money they make.Until I asked them to do it download-only Microsoft used to send me a copy of every damned development tool they make (from VC++ to building Outlook addins in simplified Chinese), and they insisted on buying me a very expensive lunch as well. BB on the other hand lied to me repeatedly about how their stuff worked, refused to handle documents, deleted documents, denied their existence, and repeatedly changed specifications in a pattern that I could only interpret as malicious. At one point I could only get phone calls replied to by cancelling BB terminal rentals, until I got a call back.
 
User avatar
cemil
Posts: 221
Joined: September 16th, 2005, 7:44 am

Bloomberg (Terminal) Manual

September 24th, 2007, 12:02 pm

Last Friday I was in BB and they show me a new version of their functions for excel which will replace the olds: blp(), blhp()...And these functions are very different from the current one and need to make changes on the application.
Last edited by cemil on September 23rd, 2007, 10:00 pm, edited 1 time in total.
 
User avatar
afoster
Posts: 314
Joined: July 14th, 2002, 3:00 am

Bloomberg (Terminal) Manual

September 24th, 2007, 12:11 pm

I just did a CTRL+H and replaced BDP for BLP, no big change there...
 
User avatar
cemil
Posts: 221
Joined: September 16th, 2005, 7:44 am

Bloomberg (Terminal) Manual

September 24th, 2007, 12:39 pm

For blp is true but for blph is not true because the option of the the function is totaly different from the old one.OLD : blph ("ticker","filed", "oldoptions","st date") NEW:bdh ("ticker","filed", "st date","end date","newoptions") The oldoptions is in a standardize but the newoptions is not standardize.
Last edited by cemil on September 23rd, 2007, 10:00 pm, edited 1 time in total.
 
User avatar
WilkesMcD
Posts: 8
Joined: October 5th, 2006, 8:18 pm

Bloomberg (Terminal) Manual

September 24th, 2007, 4:32 pm

Hi all,I was the Bloomberg API Specialist and Product Manager for EMEA region up until Feb 2007. (C++/ActiveX/Excel) Obviously, since I have identified myself I have a few contraints on what I can post here but the following comment amused me;Quote"As a matter of explicit policy BB does not produce manuals or any form of useful documentation on any product. If documentation is found to exist they delete it.If the documentation gets into the outside world and cannot be deleted they will change the product to break the manual. As a matter of explicit policy BB does not produce manuals or any form of useful documentation on any product."Bloomberg folklore has some very good reasons why Bloomberg doesn't like to document. For example, if a Bloomberg calculation is wrong, it will be argued that the incorrect answer is a "feature" and "not a bug". This makes it very time consuming for clients to challenge if the calculation is not made available via the HELP key or the DOCS system. A lot of my clients were quants who will be I was often "hung out to dry" in situations like this...I have several reasons for leaving which I won't (Legalese: "can't") go into. (I now work as a freelance consultant). However, I would warn all of you building volatility surfaces or downloading significant amounts of data that you may be targeted by individuals who will undoubtably accuse you of 'stealing' data before trying to sell you one of two expensive alternatives. (If you hear mention of a product called Server-API, read the equity exchange permissioning requirements very carefully to avoid a very expensive exchange bill).Good luck allWilkes McD
 
User avatar
DominicConnor
Posts: 11684
Joined: July 14th, 2002, 3:00 am

Bloomberg (Terminal) Manual

September 27th, 2007, 1:44 pm

Wilkes, you may be the person on this Earth that I hate most of all.Nothing personal
 
User avatar
Errrb
Posts: 1398
Joined: December 17th, 2002, 4:18 pm

Bloomberg (Terminal) Manual

October 20th, 2007, 6:31 pm

The temptation is strong to put my 2 cents into it. Long time ago I used to work for BB quant group. I would argue that most of pricing algorithms for options,convertibles etc. were implemented pretty well in terms of numerical robustness,stability etc. On the other hand the final number on the screen (or via BB API) typically depends on huge number ofparameters which hardly can be controled by Bloomberg user: dividends, yield curves etc. The way BB used to operate in US at least (I don't think it changed drastically) is that it hired huge number of college students who did not know shit about programming or finance and need BB to sponsor their working visas in US. They were taught Fortran and later some C. These were the boys and girls who were supposed to integrate complex pricing models into the system. Some of them found nice shortcuts by hardcoding interest rates somewhere inside the code to 10% ordoing similar insightfull things; so that you are lucky if the final number that you see in your spreadsheet or BB screen makes anysence at all! There is no way somebody is going to document this mess and give it to clients!Why do you hate BB so much?
Last edited by Errrb on October 19th, 2007, 10:00 pm, edited 1 time in total.
 
User avatar
WilkesMcD
Posts: 8
Joined: October 5th, 2006, 8:18 pm

Bloomberg (Terminal) Manual

October 20th, 2007, 9:01 pm

QuoteOriginally posted by: ErrrbThe temptation is strong to put my 2 cents into it. Long time ago I used to work for BB quant group. I would argue that most of pricing algorithms for options,convertibles etc. were implemented pretty well in terms of numerical robustness,stability etc. From my (few) meetings with the quants behind the calculations, I would agree with you. I would normally communicate with the sales specialists who, in turn, dealt with the quants.QuoteOriginally posted by: ErrrbOn the other hand the final number on the screen (or via BB API) typically depends on huge number ofparameters which hardly can be controled by Bloomberg user: dividends, yield curves etc.I agree with this, many times frustrated clients would contact me stating that they wanted to know where the inputs would come from. This wasn't always transparent, especially on the more advanced screens.QuoteOriginally posted by: ErrrbThe way BB used to operate in US at least (I don't think it changed drastically) is that it hired huge number of college students who did not know shit about programming or finance and need BB to sponsor their working visas in US. They were taught Fortran and later some C. These were the boys and girls who were supposed to integrate complex pricing models into the system. Some of them found nice shortcuts by hardcoding interest rates somewhere inside the code to 10% ordoing similar insightfull things; so that you are lucky if the final number that you see in your spreadsheet or BB screen makes anysence at all!I was in the sales area so I can't comment on how the programming groups work. However that seems to fit with my experiences. One example (well known and now fixed) was the equity VWAP in the API vs the Bloomberg Terminal. They didn't match for several years. When I raised this bug (since you worked in Bloomberg you will know this as a "DRQS BF") the response was that one calculation truncated and the other rounded during the intermediate stages... therefore the ticket was WITHDRAWN! I challenged this but was told that this "works as designed".This happens in many areas of the Bloomberg product, ask the product specialists within sales. The bond, technical analysis and equity guys are regularly told "this is not a bug... it's a feature".QuoteOriginally posted by: ErrrbWhy do you hate BB so much?Is that directed to me or DCFC? If it's to me, I never said that I hate BB! I am just presenting facts, no company is perfect... and some companies are more imperfect than others... However, I would say this. If anyone is researching Bloomberg as an employer I suggest that you take a look at the messageboard at Vault.com. There appear to be a lot of very unhappy people there.Wilkes McD
 
User avatar
Errrb
Posts: 1398
Joined: December 17th, 2002, 4:18 pm

Bloomberg (Terminal) Manual

October 21st, 2007, 12:59 am

I was kidding about hate to BB. By the way vault.com claims that BB has good kitchen; I somehow recall that it was stuffed with junk food only.
Last edited by Errrb on October 20th, 2007, 10:00 pm, edited 1 time in total.
 
User avatar
WilkesMcD
Posts: 8
Joined: October 5th, 2006, 8:18 pm

Bloomberg (Terminal) Manual

October 21st, 2007, 10:08 am

QuoteOriginally posted by: ErrrbI was kidding about hate to BB. By the way vault.com claims that BB has good kitchen; I somehow recall that it was stuffed with junk food only.Well, in London, they had fruits and salads. I did like the coffee machines. They were very nice pieces of kit making real coffee (i.e. it ground the beans on demand in front of you). I hate that instant stuff.I found it interesting that the number of topic threads on the company relative to it's peers is disproportionately high. Someone posted the figure up a few months ago. The current numbers stand at;Bloomberg 586 Topics (90%)Reuters 42 Topics (6%)Thompson 19 Topics (4%)It is curious to note that many posts are complaints about working conditions and management…
ABOUT WILMOTT

PW by JB

Wilmott.com has been "Serving the Quantitative Finance Community" since 2001. Continued...


Twitter LinkedIn Instagram

JOBS BOARD

JOBS BOARD

Looking for a quant job, risk, algo trading,...? Browse jobs here...


GZIP: On