Wednesday, September 28th, Steve Madej, an account representative from Bloomberg held an open training session on the use of Bloomberg Terminals to the reception of too few William and Mary business students. These special keyboard and monitor sets enhance the Bloomberg experience by allowing business professionals to access all of Bloomberg’s features using simple keystrokes tailored to the program. Knowing how to use these terminals before even breaking into the financial field is definitely an asset.
Since I can remember, I have watched my father, a worker in the financial world, scan through spreadsheets of incomprehensible numbers, glue his eyes to CNBC and constantly plug in acronyms in Bloomberg. While I may not be the most knowledgeable person about stocks or bonds I can confidently say that Bloomberg software is one of the most useful tools found in the financial sector today.
Bloomberg is a multimedia corporation, but its professional software provides the best information on equities, futures, commodities, among other assets, and is especially important when looking at fixed income markets. Its largest strength lies in its extensive database, which proves useful for analytics and stock comparisons. In addition, Bloomberg is a live data stream with a constant feed of quotes, prices, and news. With such up to date information it allows for informed trading and also has a platform for trading within its software.
When asked to describe why Bloomberg is so important, my dad gave me a simple analogy: Bloomberg is like Facebook for the financial sector. My first comparison to draw from this angle was that each stock has a page that shows its prices and history, like how each person on Facebook has a profile. However, more importantly, Bloomberg provides a networking tool so that users can share and act rather than just simply accessing this essential information. While watching the changing markets via the data stream or a synthesis of new sources, users can chat and message one another via their Bloomberg account names. In this way, Bloomberg provides the complete platform for immersion in the financial markets and creates a status of professionalism and legitimacy with its use.
Bloomberg, an ever-changing and expanding company will surely be around for years to come. The McLeod Business Library has two working Bloomberg Terminals where users can gain a certification through a series of steps and tutorials. While, the opportunity for the training session with Mr. Madej has passed, students, especially those interested in finance, should take advantage of these Bloomberg resources to boost their résumés with this skill.
