Subject: Re: Your views From: JohnnyHar@aol.com Date: Wed, 10 May 1995 08:58:59 -0400

Status: RO
X-Status: 

Thanks for responding - 

you said: 
Then you have the institutional investors with large complex portfolios.
 They need to pour through earnings, industry news, and company news.  The
generally think in the long term 5-10 days.

I am from that side of the business and find the data sources for modeling
around the updatable data to be difficult as it doesn't filter into the
COmpustat databases for many months.  (now you know why I was interested in
Edgar - which is very timely but not useful).  This is the interesting
dilemna in many data areas - quality data is still delayed - raw data is
available quickly but lacks any value added services - such as normalizing
and even in a accessible format.

Your other comments:

An emerging market for us is the financial advisor.  These are people who
essentially sit at home and research all day.  They find the little 
tidbits that can point out markets with exponential growth potential to early
in the game that they can sell buy long on the IPOs :-).  Imagine owning
Informix or Sybase in 1989 (when Oracle was "king" but service was poor), or
Cisco, MCI, and PSI in 1993 (a week after they won the NSF bid).

The financial advisor will be more important as the "baby boomers" seek to
maximize their IRAs and 401k's in the years before retirement.  As the
leading edge boomers get their golden handshakes, many are becoming very
astute investors in markets that are on a clear exponential growth path.

Do you see the individual craving information that you have layed out as
being for different clients?  I am believing more and more that the
information sources, data, even great reports are getting pushed down to the
individual.  Check out Realiy online - Reuters  - or some of the internet
sites of securities firms - they are (we are) starting to let go of the reins
on the information.  Are you familiar with disintermediation?  If you looked
into your crystal ball, how far can you see this concept going in the
securities biz?  

Here at my firm, we are starting to really push the info to the client -
hoping that we can deluge the client with an assortment of ideas - some may
be able to deal with it all - and we hope they will give us business - the
others we hope will seek out the value added services of a Financial
Consultant, portfolio manager, financial planner.  

Ok - what do you think will happen in the next five years - from you side of
the equation and my side (your suppliers)?  Do you see mergers of the two
sides?  Do you guys buy up some expertise - or leverage your existing
expertise and grow your service offerings?

THanks again - John Harper



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