“Marco has mostly ignored his core members in favor of some new members and R2G’s. Shame.”
I disagree totally.
Fixing the issues we are talking about here is complex and takes time. Strategic business decisions are always debatable. It is a permanent job. No matter what Marco decides to do, there will always be members who will not be satisfied.
Personally I am still happy with P123.
Werner
Bill, what is a TradeStation like interface?
I tried out Bloodhound and I was underwhelmed. I couldn’t do much at all, maybe I’m just getting old. Also, they use VL data. While I respect ValueLIne (we do have some of their data afterall) they only cover 1700 stock, have a limited set of line items, and they are never mentioned in the same sentence with point-in-time data. Point in time is incredibly hard , and you must have had the foresight to collect it right from the start. Only Compustat did it right from the beginning. My guess is that VL used monthly snapshots (probably CD backups) to create a PIT dataset. That is a legitimate way to do it, but it’s incredibly error prone, and inflexible. Which might explain why they have not expanded their universe from 1700.
All,
From the Bloodhoundsystem web site. This seems unacceptable for some things and other things are just not an improvement:
“Data is updated weekly and is fully adjusted for stock splits and stock dividends. Value Line has a reputation for high quality, accurate information. However, that quality comes with a certain amount of data latency or the time between a company’s release of its 10-Q or 10-K and the inclusion of that information in Value Line’s data feed. The latency varies by company as Value Line analysts take longer to process complex accounting systems. Generally, 10-Q data is made available within 2 weeks of its release. 10-K data being available within 60 - 90 days of its release. Thus, our fundamental data is point-in-time as of the date it was first published by Value Line.”
A good friend emailed my after a trial. He, like Marco, was underwhelmed.
Regards,
Jim
All:
Fair comments. I wasn't aware that their universe was limited to 1700 stocks, or the latency period. They do advertise a PIT database going back to 1987. TradeStation has its own language -- called easy language -- that can be used to write your own indicators, functions etc. Something like that would remove a lot of the current limitations to P123 and be a huge improvement -- especially on the TA side. I advocate implementation. If that is too much, why not do a bunch quick fixes on the TA side like functions of functions, being able to pass a constant parameter to a custom function, or even simpler -- EMA(EMA, TSI, etc., etc.
Bill
I use Tradestation since 2003, but only because they have a nice UI (I do not like the Trading execution UI of IB), it is easy to trade, they got good execution, low prices (0.01 per Share).
Can not be compared to p123, their TA stuff is not missing here. TA works, but only if the TA gets ranked, based
on a single instrument (they added portfolio stuff, I did not look into this) you simply overoptimize mostly of the time.
They got fundamental data, but I doubt it is PIT.
I agree with Werner, Marco and his team is doing a great job, I have absolutely nothing to blame about!
Thank you for a great job in 2015, looking forward to many great years with p123!
Regards
Andreas
j and All:
I disagree: TradeStation's TA is far surperior to P123. What they don't do is particuliarly good job with ranking -- and their database is not PIT.
I like Marco, and he has done a good job implementing his vision. What he hasn't done much is listen closely to his users. He goes with what strikes his imagination. For example, I don't remember a huge outcry for R2G before it was implemented. I'm not even sure it was a feature request.
Bill
Bill and All,
First:
Do you really believe great products and innovations get invented by customers?
Did somebody call up Steve and told him, hey I Need a Million IPhones?
Or did somebody called up Musk and told him I Need a tesla?
Did somebody call up Marco and told him, hey I Need p123 (with ranking, fundamental
data, PIT, all that great Automation, Trade and so on?). I bet my life savings that
it was his Vision (+Team) and I respect that with trust in his further Vision.
Second:
The value of R2G will Show in 5-10 years, some (my ;-)) will work very well and that could attract Subs to p123 down the road.
Also R2G put 1.2 Million in the pocket of p123, this early, I would say that is great success. Even if I would not use it
I would say: Hey, kudos, enjoy the ride!
Third:
Do customers own P123?
We are customers with one opinion each, the job of good product Management is to listen to customers, but at the end of the day, your vision as the person in charge is what counts. There is no way you can satisfy all customers and if you try you will fail big time.
There where millions of customers that asked apple to put an USB Interface to their devices.
Apple disagreed and lead the customers to their iCloud.
Tesla Customers tell Tesla to put a 1000 Mile Battery in their cars (would be
too heavy and too expensive). Tesla aswered with free charging stations that
are heavily susidised by the bar owners, that welcom waiting tesla charging
customers. Do you think this Idea came from customers, I doubt it!
My opinion:
P123 can do what they think is right. I got so much value out of p123 (without r2g) in what
is here, I basically look Forward on what’s coming, but this is only cream to a huge ice cake (that I
cannot swallow right now, I think I use 20% of what is possible in p123.)
EVERYTHING, EVERYTHING is here to get “rich” or to prosper (> 3 Mio. Net Portfolio Worth in 10-15 years with a start Portfolio of 200k) with p123, I know that sounds very harsh,
but have the critics of p123 ever thought about that the reason why they are not successful
or frustraded in the markets lies in them self but not the “limited” functions of p123?
Guys, if we do not make it with p123, we will not make it anywhere!
Regards
Andreas
All,
There are a lot of great ideas for future features.
There is a little heralded feature that Marco mentioned that I thought might be great. That was CapIQ “future events.” Another feature that may not have gotten the credit it deserves is the use of SnapShots.
What brought me to P123 is the ability for a sim to truly tell me how I would have done with a strategy in the past and to seamlessly continue that strategy into the future. I doubt that the work on achieving this is ever completely done.
This is what P123 is all about. There are some who actually demean this wonderful achievement and want to move in a completely new direction. I only did one Psychiatry rotation but, IMHO, those people need to get on some medication.
New ideas are obviously useful–we need to keep up in a changing and competitive market-- but I’m thankful that P123 continues to maintain and improve its core feature.
Regards,
Jim
j:
O.K. I’ll go out and buy sunglasses. The future’s so bright…
Bill
Marco,
What happened to the Free P123 Membership you announced April last year?
There is an option to continue as a free member after your trial period is over. I think it would simplify things if there was an option for the free membership under the choose your membership page. This would make it easier for people to sign up and subscribe to the smart alpha models.
Does this mean that if one is a paying member, but only interested in SA models, one has to cancel one’s membership, then become a P123 trial member, let the trial period expire, and then opt for the free membership? That looks a bit convoluted, if correct. I agree there should be an option to change/select one’s membership to become/continue as a free member.