Stock/Bond/Index/Fundamental/Asset Class/Quotes - Sources

Discuss your favourite picks, broker, and trading or investment style.
Post Reply
User avatar
Norbert Schlenker
Veteran Contributor
Veteran Contributor
Posts: 7960
Joined: 16 Feb 2005 09:56
Location: An Argument Surrounded By Water
Contact:

Stock/Bond/Index/Fundamental/Asset Class/Quotes - Sources

Post by Norbert Schlenker »

This is a little embarrassing for someone who is an avowed indexer but

a) I'm a sinner, and
b) Others have to be interested.

I would be interested in hearing where you get your quote feeds. While discount brokers typically show you an undelayed quote in a particular stock if you push the buy or sell button, they're not in the habit of providing real time quotes on vast swaths of the market.

On top of that, sometimes you really want the equivalent of a Nasdaq Level 2 or Toronto market by price, to see what's bid and offered behind the best levels, which is all that the brokers show.

I use a company out of Vancouver called Alphatrade, because I really can use market by price in Toronto when I'm trading preferreds. When I signed up with them, they were the most economical for that particular need. They've been reasonably reliable.

I'm not posting a link because this isn't an ad for Alphatrade. It's always worth knowing what other options are available. Anybody willing to share their own experiences? Good and bad. "Stay away from these guys" is just as informative as "This works pretty well."
User avatar
Friendly Dragon
Contributor
Contributor
Posts: 223
Joined: 19 Feb 2005 08:35
Location: Toronto

Post by Friendly Dragon »

I use my discount brokerage if I really need a real time quote. Otherwise, I use www.stockhouse.com . It has a 15/20 min. delay, but will show the current bid/ask prices and volumes at these prices, and also some other interesting info, like a sentiment indicator, and currency conversion.
User avatar
nadreck
Contributor
Contributor
Posts: 807
Joined: 19 Feb 2005 12:21
Location: Calgary
Contact:

Post by nadreck »

I find that for me the real time quotes provided by TDW's webbroker are enough. However if you are willing to spend some extra money TDW offers you a rather poor interface of Level 2's for the NAS and market depth for the TSX and TSX-V. If you have a presidents gold account ($500K in one account family) you can have this for just the price of the data feeds, if not you pay $39 a month for the Globe Gold service that these feeds are an add on too. I have tried free demos of a couple of other services and they seem better, but unless someone gives me the service free I don't find it worth enough to pay more than $10 or $15 a month for it. These services charge on a per exchange basis and it is really pricy for some exchanges. Just to do the Nas and the TSX expect to pay $65 - $100 a month. Note that is for non-professionals if you are a broker/FA etc you have to pay about double.

From what I saw of the services that were available, http://www.stockwatch.com seemed to have the best overall package of services when you take into account the quality of the interfaces and the choices of software that works with their service. For me I can't justify this level of expense.
Love within our lives! Live within our means! Invest in what we believe!
like_to_retire
Veteran Contributor
Veteran Contributor
Posts: 5923
Joined: 27 Feb 2005 07:14
Location: Canada

Post by like_to_retire »

to see what's bid and offered behind the best levels, which is all that the brokers show.
Being able to see what's happening at the other tiers would be useful information for sure. Other than the extreme limits of the spread that they show in a quote, you have very little knowledge of the sizes or depth of other bids or asks. This would be very useful in knowing how low a bid you could expect to get a sale on.

I posted a question regarding this issue at the 'other site' because it seems like an interesting topic to discuss, but unfortunately it got little to no play. :cry:

I think that knowledge of the strategy of the bid / ask spread could save you the commission price in a wink, but I never see it discussed - although I've seen commission prices talked about ad nausea.

Anyway..I use TDW's real time quotes. Typical stuff, shows spread and size...that's it.....Like Nadreck, I wouldn't pay for anything more, but I would like more.

Certainly for yourself Norbert, where you're selling (as you say) liquidity in preferreds, this information would be very useful. But it would also be useful to anyone making a trade.

ltr
ig17
Veteran Contributor
Veteran Contributor
Posts: 3418
Joined: 21 Feb 2005 20:54

Re: Real time quotes

Post by ig17 »

Norbert Schlenker wrote:sometimes you really want the equivalent of a Nasdaq Level 2 or Toronto market by price
ETrade Toronto quotes include market depth data:
  • * 5 price points on the bid and the ask side
    * total number of lots per price point
    * number of orders per price point
The data is not delayed, but is not true real time either. You have to hit a button to refresh HTML page.

ETrade does not charge extra for this.
barrister
Contributor
Contributor
Posts: 70
Joined: 18 Feb 2005 18:49
Location: British Columbia

P/E ratios for indices

Post by barrister »

I'm looking for a site which will provide P/E ratios, on an up-dated basis, for the major indices. Can anyone offer a suggestion or, better yet, directions? Thank you.
User avatar
Norbert Schlenker
Veteran Contributor
Veteran Contributor
Posts: 7960
Joined: 16 Feb 2005 09:56
Location: An Argument Surrounded By Water
Contact:

Post by Norbert Schlenker »

You need to specify a little better what you're looking for. P is always easy because market prices are observable. E is not so easy. Different people have different views of what properly constitutes E, particularly for indexes.

One problem is what to do with companies in the index that have losses rather than earnings. On a single company basis, the P/E is then a nonsensical measure. So, if you're trying to calculate the P/E of the index of which it is a part, do you add it in or omit it? Great minds differ on this topic.

Another issue is the use of the measure. If you are trying to use it to project what will happen in future, then should you be using GAAP earnings, or GAAP less extraordinary (i.e. theoretically unrepeatable) items, or some estimate of future earnings, or ....
Nothing can protect people who want to buy the Brooklyn Bridge.
User avatar
NormR
Veteran Contributor
Veteran Contributor
Posts: 5234
Joined: 18 Feb 2005 11:19
Contact:

Post by NormR »

Try Barra
User avatar
gummy
Veteran Contributor
Veteran Contributor
Posts: 2173
Joined: 19 Feb 2005 17:38
Location: Burlington, Ontari-ari-ari-O
Contact:

Post by gummy »

T'ain't easy to find P?E ratios for indexes (indices?), but S&P is here and the DOW is here.

But, as Norbert noted, ya gotta be careful 'bout how they're calculated!
Barra uses: "The inverse of the capitalization-weighted average of the individual constituent Earnings/Price ratios"
Mamma mia!
Once upon a time I tried to calculate the P?E Ratio for the TSE60.
Mamma mia!
Last edited by gummy on 29 Aug 2005 14:54, edited 1 time in total.
User avatar
gummy
Veteran Contributor
Veteran Contributor
Posts: 2173
Joined: 19 Feb 2005 17:38
Location: Burlington, Ontari-ari-ari-O
Contact:

Post by gummy »

There once was an Index: S&P
Whose ratios evoked much glee
Pick two numbers at random
Divide them in tandem
And generate your own P-over-E
barrister
Contributor
Contributor
Posts: 70
Joined: 18 Feb 2005 18:49
Location: British Columbia

P/E ratios

Post by barrister »

My interest in market P/E ratios centres on my attempts to support my general views, as they may be from time to time, of market levels. Simply put, in relative and historical terms, are various markets cheap, expensive,etc?
I appreciate that these ratios are only one of the measurements utlilized by analysts and that, as explained by Norbert, there are issues. However, my general reading of investment materials often raises these
ratios as indicative of the state of aggregate market prices and in general this seems to make sense to me. On a micro level, no problem for individual stocks, but limited resources on macro levels. I find this puzzling. To each of you who responded, my thanks
User avatar
yielder
Veteran Contributor
Veteran Contributor
Posts: 4911
Joined: 16 Feb 2005 07:47
Location: Hastings, Ontario

Re: P/E ratios

Post by yielder »

barrister wrote:I'm looking for a site which will provide P/E ratios, on an up-dated basis, for the major indices. Can anyone offer a suggestion or, better yet, directions? Thank you.
Canadian, I assume.
User avatar
Arby
Veteran Contributor
Veteran Contributor
Posts: 3125
Joined: 20 Feb 2005 19:23
Location: Ottawa, ON

Post by Arby »

I've heard that some orders do not show up on Level II market depth data. For example, I've heard of hidden orders, iceberg orders, off-exchange orders, etc. Also what about conditional orders such as AON? Can someone explain what type of orders do not show on the Level II market depth data? I'm specifically interested in the Market-By-Price data from Toronto.
worthy
Veteran Contributor
Veteran Contributor
Posts: 4117
Joined: 27 Mar 2005 09:58

Post by worthy »

I use E Trade. But I confess, I'm not really sure what precisely to do with the info. If I see the pressure seems downward, I'll lower my bid. If selling, I may adjust my ask too, depending on the quantity at any price point.
"Every decent man is ashamed of the government he lives under." H.L.Mencken
User avatar
Springbok
Veteran Contributor
Veteran Contributor
Posts: 5438
Joined: 22 Mar 2005 16:47

Post by Springbok »

BMO Investorline have added real time quotes for 5-Star customers. Here is quote from their site:

Online Service Package

To help you stay on top of the markets and make better-informed investing decisions, the Online Service Package gives you access to:

Real-Time Quotes throughout the site – no more 20-minute delay! Having immediate access to real-time trading information keeps you on top of the markets.

Level II Quotes5 – real-time quotes of the bid and ask orders which show you the depth of the market. They may assist you in determining where to place a limit order and may be particularly helpful on thinly traded securities.
User avatar
papajoe
Contributor
Contributor
Posts: 57
Joined: 19 May 2005 15:54
Location: Ontario

Monthly Inflation Index

Post by papajoe »

Could someone give me a link to a website that provides the monthly Cdn average inflation index?

Thanks.
User avatar
Shakespeare
Veteran Contributor
Veteran Contributor
Posts: 23396
Joined: 15 Feb 2005 23:25
Location: Calgary, AB

Post by Shakespeare »

Sic transit gloria mundi. Tuesday is usually worse. - Robert A. Heinlein, Starman Jones
User avatar
papajoe
Contributor
Contributor
Posts: 57
Joined: 19 May 2005 15:54
Location: Ontario

Post by papajoe »

Thanks, S.
User avatar
Shakespeare
Veteran Contributor
Veteran Contributor
Posts: 23396
Joined: 15 Feb 2005 23:25
Location: Calgary, AB

Post by Shakespeare »

NP, p. :wink:
Sic transit gloria mundi. Tuesday is usually worse. - Robert A. Heinlein, Starman Jones
sayhey
Veteran Contributor
Veteran Contributor
Posts: 1423
Joined: 22 May 2005 17:12
Location: Kelowna

chart U.S. Canadian dollar

Post by sayhey »

Looking for a chart comparing the two dollars historically.
User avatar
Bylo Selhi
Veteran Contributor
Veteran Contributor
Posts: 29494
Joined: 16 Feb 2005 10:36
Location: Waterloo, ON
Contact:

Post by Bylo Selhi »

Sedulously eschew obfuscatory hyperverbosity and prolixity.
User avatar
Shakespeare
Veteran Contributor
Veteran Contributor
Posts: 23396
Joined: 15 Feb 2005 23:25
Location: Calgary, AB

Post by Shakespeare »

Sic transit gloria mundi. Tuesday is usually worse. - Robert A. Heinlein, Starman Jones
User avatar
Norbert Schlenker
Veteran Contributor
Veteran Contributor
Posts: 7960
Joined: 16 Feb 2005 09:56
Location: An Argument Surrounded By Water
Contact:

Total return data for asset classes

Post by Norbert Schlenker »

Annual pretax total return data for a variety of asset classes, in nominal Canadian dollars. The spreadsheet will be updated as more data becomes available. Wilshire 5000 probably tomorrow, S&P 500 Monday or Tuesday.

December inflation will be available on January 18th but I will be travelling then, so the real return sheet won't be available on the website until early February.

P.S. Kudos to RRBs for a fourth consecutive year of double digit real returns. It's gotta end sometime. :P
Nothing can protect people who want to buy the Brooklyn Bridge.
User avatar
Inquisitive
Contributor
Contributor
Posts: 814
Joined: 18 Feb 2005 22:53

Post by Inquisitive »

What a neat tool - and a ton of work on your part.Thank you.

May you have a Happy New Year and
wind in your sails -metaphorically AND literally.
George$
Veteran Contributor
Veteran Contributor
Posts: 2612
Joined: 18 Feb 2005 20:46
Location: Toronto

Re: Total return data for asset classes

Post by George$ »

Likewise my thanks Norbert for this public service. All the best in 2006.
Post Reply