European data on P123

We are now starting a pledge drive to see how much interest there is in Portolio123 offering data for European exchanges—and, eventually, exchanges all over the world.

If we can raise $200,000, we’ll go ahead with Europe. If we can raise $300,000, we’ll get the world.

If you’d like to pledge, go to https://www.portfolio123.com/fund.jsp. You’ll find all the details on that page.

We encourage you to reach out to any European friends or contacts you might have so that they can pledge too. All they need to do is to create a free account on our signup page: https://www.portfolio123.com/app/auth/signup.

A bit of background. A few years ago we did a similar pledge drive for European data with the idea that we would get it from S&P, our data provider at the time. But then S&P backed out from their previously agreed-upon terms, and we ended up having to switch data providers. This was an enormous project, and we still haven’t fully worked out all the kinks. We had originally planned to offer world data from FactSet shortly after completing the transition, financing it ourselves. But the risks involved turned out to be rather large and we’re in a very uncertain time in the industry. So we decided to do another pledge drive to make sure the interest is still there.

FactSet’s coverage of European companies is excellent. Their data is reliable and easy to use. We’ll be offering all the screening, ranking, backtesting, and simulation capabilities that we offer for US data for European data as well.

If we can raise the money, we should be able to offer the first stage of European data—stocks on the LSE—by the third quarter of 2021.

Please feel free to ask questions below.

Don’t waste time on LSE, there is a 0.5% or 1% tax every time you buy or sell. I forget exactly how it works but here is a link. https://www.londonstockexchange.com/trade/stamp-duty-exemption

There are exemptions for low liquidity micro caps that trade on AIM but they are extremely difficult to get in and out of (most trading is done in weird auctions done through out the day).

Also Q3 2021? It was supposed to be Q3 2020… not two months ago you said you were on track for Q3 2020.

Great! I’ll join.

Is there a change there might be a long delay between phase 1 og phase 2? My broker charges a bit too much for London, but I guess the data still will be useful for testing/building models.

One more question: are there any significant/large differences between the European and the Us/Canadian datasets? For example, will the European data include analyst data (price targets, projections etc)?

Hi P123,

  1. Sorry but I am missing some basic elements here: can you provide guidance on the “recommended” amount to pledge? Is there a min?

I recon Marco’s post below:

  1. You mention US/Canada + Europe would cost ~1.6x US/Canada alone. Is that true for legacy memberships?

  2. Legacy memberships have no or minimal resource constraints (resource units) for US/Canada (Thank you!).
    Would this be different for the European portion of the membership?

  3. For example, what would make sense to me is to pay “in advance” 1 year or maybe 2 years of European data.
    I.e.
    Current US/Canada Legacy membership = $1,665 / year → x1.6 to get Europe as well → ~$2,700.
    Pledging 1 year of European data in addition to US / Canada would therefore be (2700-1665) / 1.25 ~ $830
    pledging 2 years → ~$1,600

Thank you

Jerome

No, phase 2 should follow phase 1 pretty quickly.

Yes, we will be getting all that data for European stocks. There shouldn’t be any significant differences, with one exception. Many European stocks do not report quarterly, but only semiannually or annually. So there will be less quarterly data–both fundamentals and estimates.

I hope this fundraising is successful, but $200K is a big ask. I’m sure there are plenty of amateur quant types around in Europe who won’t pledge because they are either unfamiliar with P123, or unaware of the fundraising attempt. I would try to get European data off the ground by repeating the approach that got US data off the ground. Just start offering screening and ranking without the historic data and back testing facility. This could be added at a later data once even customers have been accumulated.

Reading the post from Dodge1664: is it worth doing a small bit of marketing for P123 on LinkedIn for example?

There are some interesting groups e.g. “Algorithmic Trading” ; “Finance Club” ; “Algorithmic Traders Association: CTA & Quant Funds System Trading | Stocks, Futures, Forex, Options” or even “Hedge Fund Group (HFG) Association: Alternative Investments, CTA Funds, & Fund of Funds”

Jerome

Very good news .

If you go for it, please add “Istanbul Stock Exchange companies” too,

Regards,

aLL_oFFs

How much money was pledged the first time around?

First time the goal was 150K and we had 150K pledged.

Hello,

I only started using Portfolio123 a few weeks ago but have already found it enormously helpful for backtesting and refining my existing investment approach as well as for screening.

From my perspective, UK data would be particularly useful if it includes data for the AIM-listed small/micro-caps. Do you know if those companies would be covered?

h

Hi P123,

Any answer to my question above? https://www.portfolio123.com/mvnforum/viewthread_thread,12556_offset,0#75742

Thank you,

Jerome

Jerome, sorry for not replying earlier. I think you posted at the same time as I did so I missed your post.

We didn’t set a minimum pledge amount, but under $100 certainly wouldn’t go very far. But your logic seems very sound to me: to pledge in advance one or, preferably, two years of European data. Because the membership for European data would be separate from your US membership, you’d have to choose a membership level rather than keeping a “legacy” membership. It’s really a new thing. But our Ultimate-level membership comes with 10,000 resource units, which I would assume would be sufficient, and if not, upgrading is rather inexpensive.

Yes, they would be. Every AIM company I’ve checked is included. FactSet has superb coverage all over the world: what you see from US data you should expect from data from any other country.

Here are the fees that Charles Schwab provides when trading internationally.
Are these in line with other’s experiences?


This is a big value add for p123! Please contribute!

This may be a silly question but would the European stock screens and portfolios be separate from US stocks similar to the way Canadian stocks are? (except ADR) I imagine so but I would like to confirm if they would be separate.

Yes, they will be.