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-----Original Message-----
From: Don Rea <ddr@xxxxxxxxxxxxxxxxxxxx>
To: realtraders@xxxxxxxxxxxxxx <realtraders@xxxxxxxxxxxxxx>
Date: Friday, September 11, 1998 11:32 AM
Subject: Gen: Equity Data; Re: Comments on Prophet data service?
>For all equity trader's, I've recently switched from Prophet Data to
>Dial Data for my 7000 equity price per night downloads.
>
>Here's the specifics:
>
>Prophet / $9.95/Month / 2 hours to download 7200 quotes
>DialData / $21.95/Month / 40 minutes to download 7200 quotes
>
>Both offer the first month free. However, DialData has a one-time $35
>startup fee after the 30 trial period.
>
>In my case, time is money. That's why I switched to DialData.
>
>Good luck and good trading,
>
>Don Rea
=========================
Hello Don (and others) -
You didn't come right out and ask, but I thought I'd jump into the
conversation anyway (isn't that what these newsgroups and forums are
for? The exchange of ideas and experiences?)
"Time is money" is very true - but "an ounce of prevention is worth a
pound of cure" is also true.
My point (and offering to this group) is that *accuracy* of data is
likely much more important than saving a couple bucks on sourcing.
My (very time-consuming, very expensive) experience with faulty data
continues to be a nightmare, even after several years, as I must
continue to re-verify literally hundreds of spreadsheets and databases.
I've been at the repair work for over a year, and I still have (est.)
5-6 more months of work to complete the task.
As a result of my painful experience with bad data (from Genesis Data),
I pay particular attention to items about data on groups like this one.
I have no personal experience with Dial Data or Prophet, so I can only
relay what I've heard - that being that Dial Data may not have the
accuracy that you might hope for. Note that this is NOT a personal
testimonial, it's just what I've read from other traders about the
topic. Since I can't document it myself, just chalk it up as speculation
or an opinion.
I DO however, have MUCH personal experience with Genesis Data and its
owner, Glen Larson. And it's NOT opinion - it's cold, hard fact, and I
DO have it documented.
I used Genesis as my *exclusive* Historical Data source for several
years - until I uncovered errors in it, which I presented to Mr.Larson
and his company. Larson admits the errors but continued (continues?) to
sell it anyway to the paying public, to which I take severe exception.
Genesis/Larson - in my experience with them - sells faulty data, pockets
the money, and when confronted with the errors, passes them off as "not
my problem."
After 70+ emails to Larson over 5 months, we "finally" came to an
agreement whereby I would not make a high-profile issue of his bilking
the public, if Genesis were to make a contribution to charity. I
wouldn't pocket a dime, and charity would benefit. Consistent with
Genesis Bad Data and denials of responsibility, Larson reneged on that
arrangement, too. Charity now gets nothing. Heads-up, honorable, ethical
guy, Glen Larson, and great data from Genesis (except for the errors).
Details are gory, and I'll not bore anyone further with them online. If
you wish more information, please contact me privately (but note that
I'll be on vacation after tomorrow [Saturday]. If I don't get back to
you before I leave, I WILL respond when I return).
The point, again, is that using faulty data to help form reliable
trading conclusions is akin to trading your analysis for a coin-flip -
or worse.
Thanks to all - and Don - Good Luck and Good Trading.
Tom Beno
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