The Evolution of Third-Party Fundamental Databases

THE INSIDE TRACK

Back when we were analyzing stocks for a living, we dreaded taking on responsibility for a new company because it meant creating a five-year history of income statements, balance sheets and cash flow statements. That, in turn, meant going back to the source documents. Any major restatement only complicated matters.

At the time, off-the-shelf products weren't much help. Products from One Source, Bloomberg, FactSet and Market Guide, to name four, took five years' worth of data and homogenized i

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