This is generally true. Even key quants often dont have a bloomberg, unless the traders push for him to get one. Personally, I find it difficult to assist a quant in the development of a new model/method when he cannot access the necessary market data on bloomberg. A lot of quants, however, seem to have reuters...i dont know if it costs less, but maybe this is sth for bloomberg to think about. In the old days, quant groups would have shared access to bloomberg in their department thru a separate Bloomberg terminal. Generally though, having seen the internal income statement of many companies by now (good to have friends who are accountants), I must say that even the hefty 15k p.a. bloomberg license is a peanuts expense given what a bank makes in pure profits per employee. So, if quants do not have bbg, it is probably due to internal politics (maybe the operations people take out their jealousy/inferiority issues on the quant dept by capping their expenses).