Nevermind, Factset only has 5-year PIT history… My suggestion won’t work.
I can make a good argument, backed statistically, that the years currently covered by P123 in which the stock market behaved the most predictably and sensibly were 2000-2003, 2006, 2009-2010, and 2013; and the years in which the stock market behaved the least predictably and sensibly were 1999, 2007, and 2017. In the former years, growth, value, and size factors all consistently outperformed; in the latter they frequently didn’t.
But that’s cherry picking. I would never argue against including 2007 or 2017 in my data (though 1999 was indeed insane). I agree that one should employ a modest recency bias, and that data from the 1950s, say, is of limited use today. But the more data we have, the better our results will be. I have long been looking forward to an eventual expansion of P123’s data to include the 1990s–I just assumed that it might, perhaps, be in the cards. It never occurred to me that my data set might shrink by close to 25%.
…noticing better system performance. While I do not consider myself a power user (I run maybe 1 backtest a day on average), those which I do run are resource intensive. One run of the same system can take anywhere from 5 minutes to an hour.
I am not sure if this related to budgeting system resource units, but if it is, then the plus for more tightly regulated system resources is more evenly distributed computing power for all users.
…not yet admitting I love the idea of hard resource limits, but at least there might be a silver lining.
There may be other things worth discussing, and again, I apologize to Aaron for discussing an additional live service that Capital IQ provides, which I first learned about from Marco when he said he was considering subscribing to it in a previous post (XXX above). I guess I had no concerns about the present arrangement and was looking forward.
My main concern is keeping my live ports and other data.
Thank you P123 for negotiating a deal that makes no changes in my service, allows me to continue using my live ports and preserves my data.
The data companies DO HAVE A MONOPOLY ON DATA AND THEREFORE EXCESS RETURNS. Thank you P123 for being “the resistance” for the retail trader.
-Jim
Hear! Hear! I agree with Jim on this one…
I must admit at times the economics lesson of the saloon owner and mining supply store in the gold rush town does pop into my head unbidden. 
Yes - once the initial surprise on the news has settled, I also want to thank the P123 guys for managing to keep most of the existing plans running as legacy despite data supplier pressure. While this might be little comfort to those of us who are seriously impacted, it is worth acknowledging.
However, it does beg the question on alternatives data source should S&P comes back in x years with further increased price pressure (considering they seem to have a in-house competing product).
Jerome
So, what’s a “research provider” and what are the benefits?
Walter
I would also like to know the benefits of the new membership plans.
My interpretation is that the new membership plans will only provide rolling 15 years of stock data. That means research providers who have to convert to the new membership plans and new P123 members will only have access to 15 years of stock data on an ongoing basis. This means that in 15 years from now all of the historic stock data which is currently available will be hidden. However ETF data will still be available from 1999 onward, meaning that one would have access to about 35 years of ETF data in 15 years from now.
Marco, please confirm that this is the correct interpretation of the new membership plans. Please also explain whether SPEPSCNY and other such stock series will be limited to the rolling 15-year limitation.
Yes, that’s the definition of rolling that they wanted. We will try to renegotiate to 15 years since day of signup in a while, once things settle down. And once S&P realizes that we’re introducing S&P data to lots of professionals and steering more biz their way rather than taking away.
We don’t plan to limit aggregate tools like series nor SP series at this point.
Thanks
Say, what about my question? What’s a research provider and what are the benefits? Is that an S&P thing?
ignore
Thanks Marco,
great to hear that you will use your best efforts to re-negotiate to 15 years since the day of signup and not rolling. This makes much more sense and will also bring in many new members to P123. The rolling 15-year constraint will be detrimental to the expansion of P123, in my opinion.
I saw Yuval offering and I think it’s still on. I was curious whether it requires a big-fry S&P license or if another license type is available.
Gotcha. I didn’t realize that.
Sorry but $250/mo for “Research Provider” startup is very, very reasonable.
Where do I get more information about the “Research Provider” tier? I don’t anything on the site about the usage term or cost. This is all new to me.
Once you login we only show you membership levels for your user type, either Individual, Asset Manager, Research Provider or Educational. We’re re-thinking this interface. For now just logout and go to Pricing to see all types of licenses.
Ha! I never logout! Thanks!
Yes, it is very reasonably priced, but Research Tier 1 does not allow Variable Position Sizing and has only 1,000 Resource Units. So for all practical purposes one would have to subscribe to Research Tier 2, at twice the price.
That is still ok, except for the rolling 15-year historic data constraint, which will prevent any meaningful research over longer periods. As it is now, in five years you wont even get the stock data to the run-up of the Great Recession, unless Marco is successful in renegotiating this.