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I believe this message is important enough to warrant posting on
both forums.
Omega has been offering refunds to those who complained that data
on their CDs for sale were erroneous. Why, asked Mark Brown, has
no general announcement been offered by Omega regarding the bad CDs?
I relayed the question to Omega and to their credit, gave me the
cell phone number of Glen Larson, President of Genesis, who in turn
told me the WHOLE story.
According to Glen Larson (and paraphrased by me) ...
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Genesis provided on a CD data with TWO methods of rolling contracts.
One was a "straight line" rollover and the other inspired by Jack
Schwager's back-adjusted method. The date of switching contracts
was determined as foillows:
Step 1. Wait until the open interest of the newer contract was at
least as large as the current one.
Step 2. Wait until either of the following occurred:
A. Newer contract volume was greater than or within a
certain % of current contract volume, or
B. Newer tick volume was greater than current tick vol.
Genesis provided with the master disk sent to Omega installation
notes informing the user about the above choice. Also, Genesis
was supplying Omega with periodic replacements of the master disk,
containing fixes to all the errors brought to Genesis' attention.
Unfortunately, Omega was not releasing copies of the updated master.
Glen theorized that Omega probably made so many copies of the
original master that they wanted to sell those first before making
any copies of the debugged version. In any event, the updated
installation notes were not being released either. This was
unacceptable to Genesis. Consequently, Omega was denied permission
to release any more copies of the CD after 25 Mar 98.
As it stands now, Genesis and Omega are to renegotiate terms for CD
distribution.
Genesis is offering current owners of the data CD an exchange. It
will be an up-to-the-day update, debugged of course. The exchange
cost is $75 + shipping. Their phone number is 800-808-3282.
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An idea: since Omega was refunding current CD owners, maybe they
still are. If so, its worth asking for a refund to cover the $75.
Mark Brown's question still remains: Will Omega make a general
announcement regarding any refund? I posted this question to
them by email and have not yet received a response. To be fair,
they are probably focussed on the upcoming show. I'll ask
again next week.
- Mark Jurik
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