Mike Bloomberg's expensive new software used by Wall Street hedge funds to predict the exact prices of stocks

NYSE by Sam Nixon on

Bloomberg terminals are a ubiquitous tool in the world of Wall Street finance, providing traders and investors with a vast array of real-time financial data, news, and analysis. These terminals, which were first introduced by Bloomberg LP in 1981, have become an essential part of the workflow for professionals across the finance industry. At their core, Bloomberg terminals provide users with access to a wide range of financial data, including stock prices, commodity prices, currency exchange rates, and bond yields. The terminals also include news and analysis from Bloomberg's global news network, which covers financial markets, politics, and other major news events. Beyond these basic features, Bloomberg terminals also offer users access to powerful tools for financial analysis and modeling. Traders can use the terminals to build custom models and charts, and to track real-time market trends and indicators. They can also use the terminals to execute trades and manage their portfolios.

One of the key advantages of Bloomberg terminals is their integration with other financial tools and services. For example, many traders use Bloomberg terminals to access trading platforms and analytics tools from other companies, such as options pricing models or market data platforms. While Bloomberg terminals are widely used across Wall Street, they are not without controversy. The terminals can be expensive, with subscriptions costing tens of thousands of dollars per year. This high cost has led some firms to limit the number of terminals they purchase, or to seek out alternative solutions for accessing financial data and analysis. Additionally, some critics have raised concerns about the amount of control Bloomberg LP has over the financial information and data that is provided through its terminals. Bloomberg LP has been accused of using its position as a dominant provider of financial data to influence market trends and to promote its own products and services. Despite these concerns, Bloomberg terminals remain an essential tool for traders and investors across the finance industry. Their real-time data and analysis, powerful modeling tools, and integration with other financial services make them an invaluable asset for anyone looking to navigate the complex and constantly-evolving world of Wall Street finance.