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					Bloomberg software and
    database basics

      Asparuh Paleshutski
      Dr. George Alexandrou
 Introduction
 Getting Started

                                       First Session
 Keyboard essentials
 Searching Bloomberg
 Bloomberg‟s News platform
 Using the excel add-in
 Questions and practical task

                                        Second Session
 Bloomberg‟s Launchpad
 Equity and Fixed Income essentials
 FX functionality
 Practical examples
 Questions
Bloomberg is a financial services system that provides 24-hour current
and accurate financial, economic, and government information
covering all market sectors worldwide. It also features analytics,
company financials, historical market data (approximately twenty years
back), statistics and current news reports.

Bloomberg is a menu driven, interactive, user friendly and can be
customised to fit every investment strategy and informational need.
The system is being enhanced and upgraded constantly and
whenever possible customer suggestions and feedbacks are

When the students should use Bloomberg?
If you require any of the following:
· Historical and real time stock, bond or commodity prices
· News on companies, industries and global markets
· Equities and equity indices research
· Economic profiles and indicators for countries
                 Getting started
Log on
To use Bloomberg you will first need to have access to the Bloomberg
room on the first floor of the Nightingale LRC. Then you have to log
into your university account. To log on:
1. Press the red <CONN DFLT> key
2. Enter Username and Password in the corresponding fields using
    the information provided on the top of the black computer box
    below the monitors
3. Press the green <GO> key

Log off
1. Press the red <CONN DFLT> key to log off or right-click the
   mouse and select Exit
2. Log off your university account
                  Getting started…
Upon login, Bloomberg opens four windows. Use the blue <PANEL>
   key to toggle between the windows.
There are three ways to navigate the system. You can point and click,
   enter numbers into the command line or use the codes to select
   various functions. The command line normally has auto complete
   function activated so it will display the possible options when you
   start writing.
Getting Help
Note three ways to use the green <HELP> key:
1. Press the <HELP> key to define terminology, formulas, and
    applications for every screen
2. Type the terms you want to research, then press the <HELP> key
    and make your selection from the menu
3. Press <HELP> <HELP> twice for instant messaging with 24-hour
    customer support representative
        The Bloomberg Keyboard

• The Bloomberg keyboard is customized and colour-
  coded to allow users quickly and easily to access the
  information contained in the Bloomberg system and
  to perform specific functions.
• Although it is multi-coloured, it is a normally
  functioning keyboard, and when used in concert
  with the Bloomberg Professional service it's a very,
  very powerful guide.
• The best analogy to use when thinking about the
  keyboard is that of a stoplight with red, yellow and
  green keys.
          The Bloomberg Keyboard…
Green Keys
  The Green keys are action keys and allow you to move
   throughout the system.
<GO> to activate a function
<NEWS> to access Bloomberg’s 24-hr global online news
<HELP> to define terminology, formulas, and applications
   for every screen
<MENU> to back up through the system (to the previous
<PRINT> to print any screen
            The Bloomberg Keyboard…
Red Keys
<CONN / DEFAULT> to log off/on
<CANCEL> to reset a screen
Yellow Keys
   The yellow keys represent market sectors — government,
   corporate, mortgage, money market, municipals, preferred,
   equity, commodities, index, currencies and client.
<GOVT> securities issued by national governments and
securities by quasi-governmental agencies
<CORP> information regarding corporate bonds
<MTGE> information regarding mortgages and
collateralized mortgage obligations
     The Bloomberg Keyboard…

<M-MKT> money market information
<MUNI> trading, descriptive, and settlement
information regarding municipal and state bonds
<PFD> preferred stock of public companies
<EQUITY> historical and intraday price records for
common stock, options, and SEC filings
<CMDTY> commodities and their associated futures and
<INDEX> generic interest rates as well as economic
indices, such as CPI
<CRNCY> foreign currencies
               Searching Bloomberg

•    Bloomberg is a menu-driven database. To access a
  function’s menu, use the yellow Market Sector keys, or
  mnemonics, or enter a term followed by the green
  <HELP> key.
• Mnemonics are the shortcuts to any function and they
  are displayed in bold letters next to numbers on a menu,
  e.g. HP for Historical Price, WEI for World Equity Indices,
  MA for Mergers and Acquisitions menu and etc. You can
  find more mnemonics, arranged by market sector, in the
  Bloomberg Cheat sheets available under the CHEAT
  <GO> command.
               Searching Bloomberg…

  Now that you understand how the keyboard works, you are
  ready to learn the logic of the system to be able to retrieve
  the information you need.
• Bloomberg is a menu-driven system structured in three levels:
  1) General Market and News; 2) The one security Function
  Level; 3) Two securities Function Level.
• Bloomberg allows you to take short cuts around the system -
  to by-pass menus if you like. You can move from one screen
  directly to another screen if you define a security and
  remember the Bloomberg mnemonic for the analysis to be
  run. This is obviously the fastest and most efficient way to use
  Bloomberg .
            Searching Bloomberg…
1. Market Sector and News

The top level can be accessed by selecting the yellow
Market Sector key followed by the <GO> key. For example, to
access all the available functions in equities market, press
<EQUITY> <GO> and then make a menu selection either by
typing the selection number or its mnemonic and then
pressing <GO>.

Bloomberg News
Bloomberg Business News is an online proprietary 24 hour
global news service.
To open the Bloomberg news menu, press the <NEWS>
<GO> then select News Menu. For screening archive-type
news, select the amber field and type a word or type TNI
<GO>. For the latest news headlines worldwide type TOP
                    Searching Bloomberg…
2. Single Security:
The second level of the Bloomberg menu is security specific, which means that you
must select a security first. For example, typing BARC <EQUITY> <GO> will take you to
the function menu for Barclays PLC. From this menu, you may chose any of the
analytics functions by typing the menu number that corresponds to the function or by
entering the mnemonic and <GO>.The easiest way to get the comprehensive data on
one security is to select DES <GO> from the security menu, and to find all related
securities, select RELS <GO>.
3. Two securities:
The third level allows you to compare two securities. You need to select two securities
to access comparative analytics such as Price/Yield Ratio History, Regression Analysis,
Fundamental Analysis, etc. For example, to get a comparative analysis of Barclays and
HSBC, type BARC <EQUITY> HSBA <EQUITY> <GO> to bring up the two-securities’
functions menu for both companies. You can then choose any of the analysis by typing
the menu number that corresponds to the function or by entering the mnemonic and
            Bloomberg News Platform
The Information is a recognized power that often moves the
markets in one way or another. There is no better way to get it
than via the news applications available on the Bloomberg
The News platform is 24-hour fast, accurate and a
comprehensive coverage of the global markets, economies,
companies, politics, sports and much more.
To access main Bloomberg Business News menu: Press N <Go>.
This menu is divided into specific categories by white highlighted
banners, with news cross referenced for easy access.
To access a specific news category, by-passing the NEWS menu,
you may use the mnemonics (shown in white) followed by <Go>.
         Bloomberg News Platform…

For example widely used mnemonics are:
TOP (equal to <NEWS> button), which shows the
current top stories for business and finance.
READ shows the most popular business news
AV redirects to the current audio/visual broadcasts,
which include live streaming as well.
ECO gives the recent and expected economic releases
together with the expectations about them.
        Bloomberg News Platform…
There are number of ways to customise the news and
research menus so that they can meet your particular
For example after hitting the <NEWS><GO> or TOP <GO>
you can customize your preferences.
• In the amber dropdown field you can change the
categories to the one that interest you the most.
• You can also enter key words in the amber field above as
well, which will result in filtering the news stories.
• Very useful option also is the refine search option under
the red options tab, where you can filter all the news under
different categories.
• You can also set up bookmarks and alerts so you don‟t
miss any particular story.
      Bloomberg News Platform…

There are number of ways, if you want to perform a custom
on demand news search.
The first option is In the N <GO> menu to type NSE <GO>,
which allows us to search and display new stories, research
reports and multimedia presentations all in one. By clicking on
the amber command line we can type chosen by us key
We can also use the links below that allow us to filter the
news even further. Once we filter the results we have many
options in the dropdown menus. We can also save our search
and access it later on.
         Bloomberg News Platform…

Other way to do a custom search for different categories is
using the NI (news by category) mnemonic followed by <GO>
or NI together with other mnemonic like for example ECO
(economic news) and <GO>. The screen gives us again
number of options to customize the results.

A final way to search for news or categories on Bloomberg is
to actually go ahead and type the keyword in any command
line. For example lets type TARP followed by the green
<HELP> key. And then you’ll see number four here for news
subjects, it will bring us directly there as well.
         Bloomberg News Platform…
There are few options for a quick access to news on a
single company without going through the filtering
process. First we have to enter the company in the
amber field followed by <EQUITY> <GO> and then CN or
MCN <GO>. The first will display company specific news
and the second would show the most read news.

Next important feature of the platform is doing a custom
search on research that‟s actually available on
Bloomberg. It is available via RSE <GO> command.
Similarly to our news search there are many options to
filter the results, which will be explored further in our
second session.
              Bloomberg Excel Add-in
Bloomberg Excel Add-in is a powerful tool that delivers Bloomberg data
directly into Excel spread sheet for custom analysis and calculations.
Excel Add-in functionality is available in Excel from the Bloomberg menu
item on the top menu bar.

Installing Bloomberg Excel Add-In

If you don‟t see Bloomberg on the top menu bar in Excel, install it by
following these steps:
1. Click Start >All Programs >Business>Bloomberg > Install Excel Add-In.
2. In the pop-up window click Install. Close the pop-up window.
3. Close Excel; then re-open Excel.
Alternatively go to My Computer>Business(K:)>Bloomberg>Shortcut to
BB Add-In and click twice.
             Bloomberg Excel Add-in...

After re-opening excel there should be Bloomberg toolbar on your top
menu like the one shown above. By clicking on it you will be now able
to use variety of tools in Excel, which will be very helpful for your
academic or personal needs - from implementing it into Dissertations
and course works to creating reports for certain countries or security

There are several ways to retrieve and manipulate Bloomberg data
directly in Excel:
1. Using Wizards
2. Using Field search
3. Using Bloomberg formulas
       Bloomberg Excel Add-in...
1. Using Wizards

The wizards provide a guided process to draw data from Bloomberg
into a spreadsheet.
Import Data wizards enable you to retrieve any number of individual
data items.
Click the Import Data or in some cases Real-Time /Historical icon
on the toolbar.
From the new window select one of the Wizards depending on your

Market, Reference, Analytical, Data Sets enables you to retrieve
the most recent data from over 500 fields including analytics, real
time prices, fundamental data, and descriptive data such as company
business description etc.
        Bloomberg Excel Add-in...
Historical End of Day enables you to retrieve end-of-day time
series data for a specified period of time in increments of days,
weeks, months, quarters, or years.

Historic Intraday Bars enables you to download intra-day data
for various market parameters for up-to 50 days with a periodicity
down to one minute.

Historic Intraday Ticks shows the intraday market tick for time
increments, based on bid, ask or trade events (replicating the QR

We will focus on the first two functions as they should be more
relevant to your needs.

Additional and very useful wizards include Equity Screening,
Fundamental analysis and Technical analysis wizards.
           Bloomberg Excel Add-in...
Market, Reference, Analytical, Data Sets
It has 3 steps that include defining the securities we want to examine,
fields that we need about the securities and the actual visual way and
place of their data importing.
For example lets say we need the volume of the certain securities.

In the first step we can manually key in the securities or we can use
the drop down menu below to locate them from different sources.

The second step consists of defining the data fields that we need,
which is done thanks to the search text cell. When we type “volume”
into it, we see different options and by clicking on them their
definitions are shown below so we can be sure that we have chosen
the right one.

In the third step we can specify our preferences for the labels, field
orientation and other more „cosmetic‟ options regarding the data
       Bloomberg Excel Add-in...
Historical End of Day

This function has a very similar steps with the difference that
additional ones are introduced for the defining the time series
periods and the currency of the output.

The data that we will have as a final output will be historical end
of day for the specified by us period from days to years.

    Bloomberg Excel Add-in...
Using Field Search
A field is any of 900 available data types, e.g. price, volume,
yield etc., which you can retrieve from Bloomberg and apply to
multiple securities without using Bloomberg wizards. Follow
these steps:
1. Enter a list of securities leaving one cell on top clear, for
example starting with A2. You must add the market sector
identifier after the ticker, e.g. DELL US Equity.
2. Place the cursor in the next column in the title row, e.g. in B1
and click the Field Search icon on the toolbar. In a pop-up
window, enter a keyword in the text box and click Search. Select
as many fields as you need; then click Apply.
3. Place the cursor in the Home Cell, e.g. next to the title row, in
our example cell A1. Click the Populate Table icon on the
toolbar. Bloomberg data will populate your spread sheet.
               Bloomberg Excel Add-in...
Using Bloomberg Formulas

Use Bloomberg formulas to bypass wizards and retrieve the same data as
available via wizards. Bloomberg formulas are Excel-type functions and
accordingly, use the same syntax as Excel.
Bloomberg offers three formulas:

BDP (Bloomberg Data Point) returns data to a single cell in your Excel
spread sheet. This formula contains only one ticker and only one field. BDP
formula syntax: =BDP(Security, Field).

BDH (Bloomberg Data History) returns the historical data for a selected
security. BDH formula syntax: =BDP(Security, Field, Start Date, End Date).

BDS (Bloomberg Data Set) returns multi-cell descriptive data to your Excel
spread sheet. BDS formula syntax: =BDS (Security, Field).
              Bloomberg Excel Add-in
A more flexible way to perform calculations using Bloomberg formulas is
to use Excel cell references instead of entering Bloomberg tickers or field

For example, type IBM US Equity in cell A2, then the formulas shown
above will look as following:

Function Builder: for automatically creating formulas, use the Function
Builder tool by clicking the icon on the toolbar. In the pop-up window,
select Bloomberg in the Or Select a Category field.
         Bloomberg Excel Add-in
Moving Lists of Securities into Excel

Wizards enable you to import securities from various sources
listed in the drop-down list in the Select Securities section as
shown on right.

From a spread sheet:
1. Open a spread sheet which contains a list of securities.
NOTE: Securities should be entered with Bloomberg identifiers,
e.g. IBM Equity.

2. From the drop-down list, select Spread sheet. The Range
field appears shown below on right.
In the Range field, specify a range of cells by one of the
following methods:
• Enter a range from the current spread sheet in standard Excel
format, e.g. $A$2:$A$4
•Select a range from an open spread sheet
          Bloomberg Excel Add-in
From Equity screening:

1. From the drop-down list, select EQS - Equity Screening. All
available screens appear in the Saved Screens drop-down list.
2. From the Saved Screens drop-down list, select a screen. The
securities appear in the Available security window.
3. Select one or more securities and click the Add button or click the
Add all. The securities will move to the Selected securities

Drag & Drop Securities from Bloomberg:

On some Bloomberg screens you can see the Drag&Drop icon in
the top right corner of the screen. You can click this icon and drag
securities directly into the Available Securities window, or Selected
Securities window in Wizards, or directly into an opened Excel
spread sheet. Once in Wizard or in a spread sheet, the tickers are
displayed with Bloomberg market identifiers.
        Printing and Downloading
             from Bloomberg

To print a single screen, press the green <PRINT> key

To print more than one Screen at a time, type the total number of
pages to be printed, and then press the <PRINT> key. For
example, to print three pages at a time, type 3 <PRINT>.

To e-mail screens to others, see under Message Groups how to
establish a project group.

To send a single screen as an email attachment enter Grab
To save a screen as an image in Word document, at the screen,
press Alt-C; then in Word document, select

Paste > Paste Special > Bitmap
           Printing and Downloading…
Downloading results:

Different Bloomberg screens offer different download options. To view
available options, including exporting results into Excel spreadsheet,
click the Export button on the top bar, or click the red Output tab above
the results where available. Some screens display the Download to
Excel option or 97 <GO>.

Downloading tables to external drive: Save file Different Bloomberg
screens offer different download options. To view available options,
including exporting results into Excel spreadsheet, click the Export
button on the top bar, or click the red Output tab above the results
where available. Some screens display the Download to Excel option
or 97 <GO>

Downloading Bloomberg Excel files into external drive: Select Save
As then select text (Tab delimited) (*txt) file format. On your external
drive, your file will preserve the values but Bloomberg Excel
expressions will be gone.
Any Questions…?
           Bloomberg’s Launchpad
The Bloomberg‟s Launchpad is a customizable interface that
allows you to quickly, easily access the information you need

In this first part of our second session, we will cover the basics
of the Launchpad application, how to build a monitor, news
searches, add charts as well as some tips and tricks.

 The applications should be set up to launch automatically upon
Bloomberg login. But if it doesn't, you can always type into one
of the Bloomberg panels BLP followed by the <GO> key to
launch the application.

On your screens you should have small and transparent menu
with several toolbars.
          Bloomberg’s Launchpad...
The Launchpad toolbar is the main frame or brains behind the
application. What you also see are the four tabs. If you are unable
to see these, they could be hiding underneath the "options" button
in the upper right hand corner. When you click on the arrow as
they toggle between being shown and hidden

One thing that you should remember is that every change you
make to your launchpad needs to be saved if you want to retain
your custom made view.

The “Settings” tab holds the default options of your launchpad.
For example, how to choose which view to maximize upon start-
up. You can choose this option from the top in the amber bar drop
The second important tab you will see is the "Tools" tab. This
allows you to create groups of functions, short cuts, to even a
quick - and even a quick link to your monitor manager. We will be
going over the group manager in depth later on.
           Bloomberg’s Launchpad...
First, we are going to go through the "Browse" option. It is a quick
link to search for components within the launchpad separated by
specific categories. Other way to search for components is by the
amber search field on the upper left hand corner, which is
extremely useful. The different components are usually ranked by
popularity on the right hand side indicated by the number of stars.

In the same field we can also search for function mnemonic, find
chart or monitor manager. For example if you type ANR <GO> the
launchpad is smart enough to recognise you are trying to pull up
the Analyst Recommendation page and it will automatically load.
As well, you can pull up, for example, the chart and Monitor
Manager. For now, we are going to start with the Monitor
Manager. After pulling up the Monitor Manager, you can see a list
of monitors that I've created in the past. Additionally, you have the
options to search for a monitor in the upper left hand corner as well
as filter your monitors you've created and monitors you've received
from other users.
              Bloomberg’s Launchpad...
Creating New Monitor

There are number of ways to create new monitor.
First we can go to the Launchpad‟s Tools tab select “Monitor manager”
and click on “Create new”. From the monitor, you have the option to
open a previously created monitor or create a new one.
The second way is to enter the word “Monitor” in the Launchpad‟s
amber field in the top left and press <GO>.
The third is by using the “Browse” button and after that choosing
“Monitor” and clicking on “Launch component” button.

When you create a new monitor, a black box with a grey outline will
appear. There are five tabs just like on the toolbar that are now labelled
"Monitor", "Views", "Alerts", "News", and "Link To".
           Bloomberg’s Launchpad...
Entering Securities into the Monitor

There are a number of ways to enter end-securities into your
The first being to simply double click into the cell underneath the
ticker column and type in the security. As you type in the security,
you will see the auto complete drop down that will give you a list of
related securities.
The second way to input security tickers is a drag-and-drop, the
push-pin from Excel. What I mean by this is, if you pull up a
specified index within the monitor - within the Bloomberg and go to
the Members Page(MEMB) you will see in the upper right hand
corner there is an Excel Push-Pin. You can click, drag and drop
this into the monitor and you will see an option for how to import
these securities. You can do this through "insert", "append",
"replace all", or "replace from selected row". You can see that
this has now replaced all the securities into the monitor from the
Dow Jones Industrial.
               Bloomberg’s Launchpad...
Another way to import the securities is by doing it by the “Import
securities" option in the “Monitor” tab. From here, you'll see the
option to choose a source. For now, we're going to keep it simple
and go to "Equity Index". We're going to specify the Dow Jones
which is the INDU and again, it's going to ask you how you'd like to
import these securities. So, for now, I'm going to replace them.
Once I import, you can see that they are re-loaded into the same
A new feature we have on the launchpad is if you add an index. You
will see that there is a “+” sign next to the indices. If you right click,
you will see the option to "Add Members" which is a quick link to
add the members of the specified index.
Now that we have the securities in the monitor, lets go through
some of the options up here on these five tabs. Underneath the
monitor tab, you will see another quick link to the "Monitor
Manager", an option to re-name the monitor that you're currently
using. "Import Securities" which we just went over, as well as the
"Advanced Settings."
              Bloomberg’s Launchpad...
Monitor Tabs

In the "View" tab, we're going to go over first, is the "Group Buy". The
Group Buy option automatically groups your securities within your
monitor by the specified classification. For example, if we group buy
energy sector you will see that the Dow Jones is now grouped by the
energy sector automatically.
The “Summary Statistics” will add a row on to your monitor with the
statistics for each individual data point. For example, if I add the
average line and I update, you will see that you can now see the
average price of the securities within the Down Jones Index -
Industrials Index.
The next option underneath View that I'm going to show you all is the
"Manage Columns". Manage Columns is where you can really
customize the data on your monitor. You can see her on the right hand
side there's a list of the columns you currently have within your monitor.
On the left hand side is where you can search for columns that you'd
like to add to your monitor.
             Bloomberg’s Launchpad...

The next tab we're going to go through is the "Alerts" tab. Under the
Alerts is where you can create, edit and enable alerts. To create a
simple alert, you can go to “Alerts", “Create new alert", and you will
see the option to have this applied to all securities or an individual
security. As we click “All securities" we can choose the specific field
that we would like to it to apply to so we can change it to be current
price is greater than and enter a specific value that we'd like.
The next tab is the "News" tab. We have the option to view news on
all the securities with just a quick link to open up a panel within your
Bloomberg for all the news on the securities on this monitor. The
same goes for the research on all the securities as well. But what if
we want to see scrolling news on all of the securities within this
monitor? This is the perfect segue into how to create a news panel in
the launchpad. To access news within the launchpad, we will again
return back to the main toolbar and type in "news panel”. For the
purpose of this exercise, we're going to filter based on a ticker list
because we want this to be linked to our monitor.
               Bloomberg’s Launchpad...
Loading Charts

To launch a chart, we are going to go back to the Launchpad toolbar and
type in "chart manager". Once it is loaded, we can see our pre-existing
charts we created as well the ones we created in launchpad. From “My
charts" tab and click on the “Create new" button. For the purpose of this
exercise, we are going to continue and focus on the single security
historical. Once highlighted, you can click on the “Create" and the chart is
To customize this chart, please locate the grey tool bar underneath the
main border. Here is where you can manipulate the data for the chart.
Please note that the chart has a hot spot on the top just like the news
panel where you can drag and drop a new security in here or you can
simply update it by highlighting it and typing in a new security.
We also have the ability to link charts to the monitor as well. From “Chart”
you can click on “Select security playlist". You can link the source to the
launchpad monitor as well and choose the monitor that we created
previously. Once we update this, you will notice we now have arrows in
the upper left hand corner. This is how you can toggle between the
securities within the monitor
              Bloomberg’s Launchpad...
Linking Launchpad components

This tool can be found in the launchpad toolbar under “Tools“ and is
called “Group manager." When it opens, you can highlight the
specified components that you'd like to be within the group. So for this
example, we will highlight the graph and the news by clicking next to
the arrow “A” symbol. You will see that they highlight in red as you click
on them. Click “Update” and your group will be created.

Now if you want to link a monitor to this group, from the monitor‟s “Link
to” tab choose “Component groups” and select the group you have just
created. You can see that by clicking on the specific security in the
monitor your graph and news panel are updating accordingly. This is
the so called one click option.

There is one more trick I want to show you and this is the docking
feature that allows you to make multiple components move as one.
When you line up components there is an amber line highlighting
between them and they will be docked once you click on the navigation
        Bloomberg’s Equity functionality
Bloomberg‟s Equity functionality is vital for your daily investment analysis.
It fully integrates the very best in real-time data, news and research,
providing you with an unmatched level of market data transparency, dynamic
monitors and powerful analytics. With these tools, you can examine more
than 20 years of financial statements, consensus estimates, extensive
technical analysis studies.
We have already seen that Bloomberg provides direct access to news and
independent with the available under NSE and RSE mnemonics. Real-time
delivery of news and reports ensures that you are getting the information as
soon as it is available. Today we are going to concentrate on the following
more specific tools used for the in-depth security analysis:
1) Corporate events and earnings seasons;
2) Equity screening;
3) Graph functionality;
4) Fundamental Analysis;
5) Earnings estimates;
6) Analysts Recommendations;
7) Peer group analysis.
      Bloomberg’s Equity functionality…
Bloomberg's corporate event and transcript resource

After exploring the ways in which you can keep up to speed with the
news and research that affect both the broad markets and your
investments, we will turn our attention to another resource that will give
you a solid grasp of overall market movement. It is available under
EVTS and <GO> and tracks over 100,000 events per year. Coverage
includes earning release, earnings calls, sales results, shareholder
meetings, investor conferences, M&A calls and other relevant company
The top of this screen gives you a set of options to customize your
calendar by date range, view, ticker lists, industry and region. The
bottom row of option also allows you to quickly select the event types
that are most important to your research.
You also have the ability to export these events into your Outlook
calendar using the far right column, keep in mind that you can also click
into each event for links to other analytics, including pages on earnings
analysis, fundamental data, research report and company news.
     Bloomberg’s Equity functionality…
Earnings season resources

There is a command that allows you to analyze the results of the
current earnings season for your selected list of securities. This
screen, with the shortcut mnemonic EA and <GO> examines EPS,
net income and sales as companies announce their quarterly

EA summarizes earnings by sector for all companies in your list and
includes year-over-year growth as well as aggregated surprise
versus the Bloomberg consensus estimates. To sort through each of
the line items available, simply click on the desired measure at the
top left. Lets for example select the S&P 500 as our security pool and
from the top level, which we can get back to by using the <MENU>
key, it is possible to identify a few industries that has a positive
earnings period.
      Bloomberg’s Equity functionality…
Equity Screening

EQS and <GO> is the Bloomberg equity screening application that
allows you to search for securities based on your defined criteria from
a broad set of underlying data. The interface used for this tool offers
full transparency at every step of the screening process. You can now
identify investment ideas with advanced analytical functionality.
Lets for example try to find the equities in the Materials sector that
currently have Market capitalisation lower than their cash and cash
The auto complete feature will help you identify the specific field you
are looking for. The more you type the further it narrows your choices.
After you have finished selecting your criteria, you can click on results.
All of the matching securities will appear in a list with a list of
comparable columns. This will include any numerical values from your
search criteria. You can add columns to this view using the amber field
     Bloomberg’s Equity functionality…
Graph functionality

To continue your security-specific analysis, Bloomberg offers a wide
range of graphs. To view the historic movement of a stock you should
enter GP and <GO>. It displays historical closing prices for a selected
security but features a wide range of customization options.
For example, note that you have custom windows at the top of the
screen to adjust your date range, periodicity, display date and currency.
You can also use the grey taskbar to click on items such as news to view
news as of a certain date on your graph.

If you are interested in further analysis using technical studies, you can
continue your graphical analysis of a security on GRAPH and <GO>.
This function provides you with sample charts of technical studies, a
chart showcased to demonstrate a featured charting technique. And
also, it stores custom graphs that you create for your individual analysis.
      Bloomberg’s Equity functionality…
Fundamental Analysis

To get a fundamental picture of a specific company you can use the
mnemonic FA followed by <GO>. This function is a dynamic
fundamental analysis tool that displays the financial history of a specific
company with full transparency to the financial statements. You can use
it to identify trends and analyze the value of a potential investment as
well as comparing techniques and custom templates for quick access
to the data you need to make a decision on an investment opportunity.
The FA screen will take you to a financial statement summary. You can
customize it by using the drop-down menus. To suit your preferences,
you can click on the “Defaults” tab to adjust which settings will
populate each time you run this function to save you time.

One of the key benefits of this screen is the full transparency it offers
with the financial statements. Once you click through, you can view not
only the company filing but a highlighted portion of that statement
where the selected line item was pulled from.
       Bloomberg’s Equity functionality…
Earning estimates

Additional layer to the equity functionality is provided by the earnings
estimates available under EEO and <GO>. All earnings estimates are
aggregated for a company in one place so you can quickly see the market
expectation on an investment opportunity.
Again we can customize the view by using the amber fields available.
In the last column on this page the total number of estimates received for
that figure and in parenthesis the number of these recommendations that
were used to compile a consensus.

If we click into a specific measure, we can get even more clarity on this
figure. From here, you can see a visual representation and analyst
breakdown for the figure for full transparency on this data.
On the left there are links to view research reports by each analyst, and from
this screen you can hit the menu key to go back. You can also click to pull
up a graphical representation of sell-side predictions versus the stock price
        Bloomberg’s Equity functionality…
Analyst Recommendations

Another dynamic tool for analyst research is the function ANR <GO>. You
can use it to display a list of analysts' recommendations, price targets, price
target time periods and a consensus rating for a selected equity.
ANR allows you to determine the latest analyst sentiment and identify
which analysts have the most accurate equity rating. You can also create or
edit an analyst's recommendation alert.

Bloomberg assigns a numerical value from one to five for every
recommendation where five represents a buy and one represents a sell.
By placing all of the ratings on an even playing field, we can then come up
with a consensus rating on a stock.

You can also view Bloomberg-generated rankings for the analysts on this
screen, which follows each analyst's recommendation over the last year to
determine the top-performing analysts.
       Bloomberg’s Equity functionality…
Peer Group Analysis

Peer Group Analysis is a core equity functionality available under RV
<GO>. We use it to perform a customized peer group analysis so we can
benchmark our securities' performance against its peers.
This page features the ability to select your peer group using either the
peer drop-down menu or the customized drop-down menu and then
selecting custom peers. This allows you to hand-pick a custom group of
peers for your analysis.

Another peer comparative tool, PPC <GO> complements this analysis.
This is the Bloomberg proprietary peer product comparison screen. It
enables you to perform an in-depth analysis of company revenue lines by
introducing a sector classification hierarchy that allows for the
comparison of product segmentation data across companies on a global
   Bloomberg’s Fixed Income functionality
There are many tools for monitoring the bond markets on Bloomberg. We are
going to spend some time going over broad market functionality and then
look at some tools for single security analysis as well.

A key screen for fixed income players here is if you just hit the <CORP> key
on your keyboard followed by <GO>, which is going to give you a menu
breakdown of all the fixed income functions that we have available on the
terminal. So if you're interested in relative value or yield curves, you can look
here and see if there's any functions that you're interested in and that would
be useful for you analysis.

Just like the familiar TOP there is a news page specifically dedicated to
bonds under TOP BON <GO>, where we can search and customize news.
As we know the economy drives the fixed income market, so the familiar
ECO function is also a great place to look for current releases. Specifically
for if you're interested in the fixed income markets, you may want to look at
government auctions and buy-backs.
  Bloomberg’s Fixed Income functionality...
Now that we have taken a look at the broad overall economy, we're going
to take a look at interest rates. One of the key functions for interest rates
is BTMM. When you load this screen you'll be able to see all the major
interest rate benchmarks by country. Key aspect on the screen is that all
of the rates on the screen have tickers. If you want to see just a specific
ticker, you can just drag and drop by rate.
Another page that allows you to see current as well as projected central
bank rates is CBRT. This is the central banks portal that shows where the
rates are and have been. You can click into any one of the central banks
to get key rate information.
If we want to look at projections, we are going to bring up the screen
BYFC, for bond yield forecasts. BYFC gives you perspective on where
interest rates are projected to be in the future. If you click along the bottom
of the screen you'll be able to see this information by different region and
you can page down as well to see all of the countries listed within that
specific region. On the left hand side you'll be able to see any recent
updates that were made and then even here on the top right you'll be able
to see a forecast histogram of all the predictions.
 Bloomberg’s Fixed Income functionality...
Term structure of IR

To continue our discussion of interest rates, lets have a look at a function
that shows you the term structure of interest rates for a given curve. This
function is CG (curve graph). When the screen appears you'll be able to use
the current curve if you have a curve selected or you can use the sample
Bloomberg curve or you can select option four to select a Bloomberg curve.
Once you select a Bloomberg curve you can search here by name, country,
currency, type, subtype, and publisher.

Once you select a curve, a graph will appear. If you want to add another
curve to this list you can go to 90 “Actions” on the top left, curve list, and
then add more curves by browsing. This allows you to compare credit yields
versus a benchmark, not only today, but again, historically.

If you are interested in seeing all the other curve types we have available on
the terminal, you can type CURVE, followed by the <CORP> key and hit
"Enter." Again, this allows you to search by name, country, and other various
 Bloomberg’s Fixed Income functionality...
Single Fixed Income Securities Analysis

First we are going to look at the bond search function under SRCH. It can
be used for corporate and sovereign bonds. In addition to the basic search
we offer a more granule advanced search. On the top right of the screen
you can click on “Advanced search." Here you will see a more detailed
breakdown of options you can select to filter your bonds. And again, you
can look by industry sectors, exchanges, country, and other various criteria
for filtering down your search.

The first tool that we are going to look at is YAS and this allows you to look
at yield and spread analysis on specific bonds. So we are going to load a
DIS7 (Disney bond), followed by the <CORP> key and run YAS. It allows
you to bond versus a given benchmark. You'll notice any of the fields that
we have here in amber are able to be customized and they let you specify
all the specific inputs on the screen. Another key feature we have here on
YAS is the option to see relative value historically. Type 11 <GO> and this
will bring up four graphs of various information regarding the bond you're
looking at. You'll be able to set what you're viewing on each specific graph.
    Bloomberg’s Fixed Income functionality...
Credit ratings

The function CRPR allows you to look at all the credit ratings for a specific
company. On the screen you'll see all the ratings are broken down by all of
the rating agencies. If you're interested in seeing any of this information
historically you can click on any of the ratings and you'll be able to see all of
the ratings in the past and when they were changed.

To see a more detailed definition of all of the ratings here as well as a
comparison, you can run the function RATD. These will give you all the
rating definitions and if you scroll down to the second page you'll be able to
see a comparison scale as well.

While credit ratings do offer insight about the credit risk associated with a
specific company, a lot of players in the bond market also turn to the CDS
market to get a perspective on credit as well. One of the top CDS functions
is the CDS sector chart screen, which can be found on GCDS.
In addition to looking at a company's credit rating, we also want to look at
the debt distribution. A key function we have for this on Bloomberg is DDIS.
Bloomberg Portfolio Functionality
                    Portfolio functionality
The main Portfolio menu is similar to other market sectors. It is available
under <ALFA> (Client) key and it is divided into banners and you can access
functions using mnemonics or numbers on the menu. The main Functions
• Portfolio Slice and Dice (PSD)
• Real-Time Monitoring (PRT)
• Historical Portfolio Analysis (HPA)
• Attribution (BBAT)
• Key Rate Durations (KRD)
• Scenario Analysis (BSA)
• Risk Overview (BRSK)
• Multi-Factor Models (RSKF)

The mnemonic PRTU <GO> displays a list of portfolios that you have
created and also all the shared portfolios.

NPH <GO> will display for you the news for your portfolio holdings. You can
search for keywords or sort them by different characteristics.
                Portfolio functionality…
The portfolio system is not for Portfolio Managers only. The
Bloomberg has an enormous collection of publicly filed Portfolios on
the system that can be used as prospecting tools.
The Portfolio section, appropriately named the ALFA section, will
provide you with yet another way of using the system to establish a
creative edge.
Other advantage is provided by the excel templates available under
XLTP <GO>. For example lets have a look at the Portfolio Return
Driver Matrix. Note that you should remember the number of your
portfolio in order to analyze the main return drivers and compare to
other similar portfolios.

Similarly you can use the Asset allocation calculator template as
reference to your portfolio construction parameters.

Very useful option is offered by the Portfolio intraday monitor and
Portfolio Optimization & Back Testing based on Modern
Portfolio Theory templates that could help you with your every day
investment decisions.
                 Portfolio functionality…
Creating a Portfolio

Type PRTU<GO> and click on “Creating and Updating Portfolio”
Type your portfolio name in the “Portfolio Name” window (the
orange window), then enter Cash Amount in the “Cash” window
The next page allows you to enter the stocks in your portfolio by
ticker symbol, the cost price per unit and the number of units or
position. Don‟t forget that you can use the Drag and Drop method as
discussed before. Enter the stock names and the “Cost per Unit”.
For the correct entries you should be able to see the identification
number filled in automatically by the system. This confirms that your
stock is recognized by the system.
Click on “Finding and Analyzing Portfolio” to view your portfolio.
Alternately type PLST and hit <GO> to enter the screen that displays
a list of your portfolios.
Click on the Portfolio name that you wish to view and analyze. This
will take you to a list of actions that you can do with the selected
                      Portfolio functionality…
Historical Portfolio Analysis

HPA <GO> analyzes a portfolio‟s current and historical allocation, and helps
you understand its performance and risk characteristics. Additionally, HPA
<GO> highlights the risk and return characteristics of the holdings within the
portfolio, identifying what is adding the most value, and the risk return tradeoffs.

Allocation Tab - allows you to view current allocation or backdate analysis or
view a snapshot on single date. You can use the performance button to run
performance attribution against a benchmark. You can also measure portfolio
against a benchmark or even another portfolio or model.

Distribution Tab – allows you to gain insight by viewing graphically
historical risk and return measures on your portfolio, chart individual sectors
(Bar or Scatter), countries, or holdings, as well as the entire portfolio. You can
also get deeper understanding of performance and historical risk versus
benchmark by selecting the relative value checkbox.
                     Portfolio functionality…
Performance Attribution
Bloomberg‟s Equity performance attribution analytic, BBAT <GO> is a
comprehensive tool featuring 6 data displays that helps you understand your
asset allocation bets and the sources of your return, on an absolute return basis,
or relative to a benchmark.
Summary Tab
Display a graphical view of the asset allocation decisions that were made as well
as the resulting absolute or relative return.
Detail Tab
See all the underlying data calculated by BBAT, supporting ability to drill down to
the security level, and sort by any column
Heatmap and Scatter Tabs
Quickly identify the drivers of return by highlighting via colour coded map the
results of your investment decisions, with brighter colours identifying the extreme
values. The scatter graph highlights the securities or groups of securities that
have most greatly impacted return, considering both active and passive
decisions (e.g. not holding what is in benchmark).
Return Drivers and Holdings
Focusing on the security level returns, these tabs highlights gains or losses due
to timing, as well as outperforming sectors when displaying at sector level.
                  Portfolio functionality…
Performance Attribution...
The measurement and interpretation of performance data is a critical
component of investment strategy review. An investment program must be
constantly monitored to ensure that it remains on track. All investors need to
know how they achieved their performance and sources of value-added.

Attribution is driven by the benchmark. The portfolio is compared to a
benchmark and all the differences are considered as active decisions. This
means that, if some sectors or markets, or any other partitions in a possible
attribution strategy were empty (present) in Portfolio since were present
(empty) in Benchmark, the investor decided not to invest (or to diversify
respect to Benchmark) in those partition.
                Portfolio functionality…
Performance Attribution...

Asset Allocation: what was the effect of overweighting individual sectors
relative to the benchmark? The allocation effect measures the impact of
decisions to allocate assets differently from the policy benchmark.

Stock Selection: within sectors, how well did the manager select
securities relative to the benchmark? The selection effect measures the
impact of selecting securities different from those held in the benchmark.

Interaction: is the remaining portion of the value-added, combining as it
does contributions from active stock selection and active asset allocation.
The interaction effect measures the combined impact of selection and
allocation decisions within a category or asset class.

Currency Effect: what was the effect to choose a portfolio currency
respect to the original stocks currencies? The currency effect measures the
impact of deviating from the benchmark currency position.
                   Portfolio functionality...
Portfolio Slice and Dice

Bloomberg‟s Slice and Dice screen supports more than 25 different security
types and offers a robust set of integrated analytics for you to view your
portfolio in absolute or relative terms versus a benchmark. Aggregate
measures by multiple classification schemes such as duration, sector or
credit quality. It is available under mnemonic PSD <GO> . You can backdate
your analysis for a historical snapshot of your portfolio and benchmark

PSD <GO> lets you customize your screen to display only the fundamental
indicators that you care about. Create multiple templates to produce different
views for analysing your portfolio‟s characteristics relative to your
You can also use the index aggregation methodology for improved sector
and total portfolio‐level characteristics like historical sector allocation,
portfolio distribution across two fundamental indicators, statistical risk and
return measures, and a security‐level holdings changes report.
                   Portfolio functionality...
Key Rate Durations and Bloomberg Scenerio Analysis for Bonds

Use Key Rate Durations to manage your interest rate risk across the
curve. Key Rate Durations allow Fixed Income Portfolio Managers to
determine how much sensitivity their portfolio has to movements at
individual points on the curve. This function also allows clients to
determine if their portfolio has a more bulleted structure relative to their
fixed income benchmark. It also allows you to export the report to Excel,
Adobe, or generate an Interactive Report, which allows you to schedule
the report via RPT <GO>.

Bloomberg Scenario Analysis BSA <GO> allows portfolio managers
and analysts to easily stress test their fixed income portfolios in order to
identify which securities may out/underperform their expectations. You
can create and save multiple interest rate scenarios and apply them to
understand the impact on a fixed income portfolios duration, yield and
                     Portfolio functionality...
Scenario Analysis
Bloomberg Scenario Analysis (BSA <GO>)allows portfolio managers and
analysts to easily stress test their fixed income portfolios in order to identify
which securities may out/underperform their expectations. Create and save
multiple interest rate scenarios and apply them to understand the impact on
a fixed income portfolios duration, yield and return.
Risk Overview
Bloomberg offers market risk tools including advanced analytics to help
manage and measure market related risk exposures. BRSK <GO> is your
portal to a selection of portfolio risk statistics, including Stress Tests,
Tracking Error and Absolute/Relative VaR. Customize the VaR output by
time horizon, confidence level and choose from three calculation
methodologies: Historical, Monte Carlo,and Parametric.
Multi-Factor Models
Bloomberg‟s Multi-Factor Risk Model for equity portfolios allows portfolio
managers, analysts and risk managers to analyze ex-ante (predicted) risk of
equity portfolios. The RSKF <GO> analytic will help demonstrate how much
risk your portfolios are exposed to and where the risk is coming from. Factor
models for the US, Europe, Asia, and a global model provide coverage on
more than 88,000 securities.
                   Portfolio functionality…
Analyze portfolio performance
Use TRK to analyze how a portfolio's performance compares to the
performance of an underlying benchmark, portfolio or index. TRK uses an
ex-ante approach, a forward-looking approach that is calculated across
1000 randomly generated scenarios, to calculating the tracking error.
Worst Case Scenario
Use WRST to analyze a portfolio‟s potential loss/gain
across a series of historical and theoretical market conditions. You can
apply a range of stress tests to a portfolio and display the ten worst
performing scenarios in descending order so that you can determine
effective strategies for minimizing loss.
Creating report on selected portfolio
Use PRTS to create a report on portfolio for a selected time period or
against the original cost. PRTS allows you to quantify your gains/losses
over a selected period of time and measures the portfolio's averages so
that you can make informed decisions about possible restructuring of your
You can generate the report immediately or schedule it to run periodically
at a time of your choice.
              Portfolio functionality...
Portfolio Real-Time Performance
Use PRT to track the intra-day performance of your equity portfolio
and compare it against a benchmark. You can analyze your portfolio
by different categories, including sector , industry or country to
determine the factors contributing to your performance and determine
where you should overweight or underweight against your benchmark.
Any Questions…?

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