The Terrible Truth About Awful Data

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Attention, attention. This is important.

I am some very good, very exciting news. And I’d like to introduce this wonderful news by telling you about a terrible problem I didn’t know existed.

A little more than a week ago, a Sloper wrote me, puzzling over a few of the earnings dates on the site. He showed me, one by one, how some of our earnings dates didn’t match with what the company itself was reporting. It was a polite, well-researched email, and he was absolutely correct.

Naturally, I was very concerned. For one thing, “garbage in, garbage out.” I need high quality data for my business. I want to be able to trust the information, and I want my customers to know they can trust the information as well. Especially my awesome premium members, who are solely responsible for keeping the lights on at this place. Many pages on the site depend on this data, and if the data’s bad, then every single page that uses the data is bad too.

from our page management database…….

On top of this, I am one of the most hung-up, anal-retentive, OCD weirdo you’ll ever meet. I want everything perfect. Right angles. Neat stacks. Clean data. The idea of anything erroneous on my beloved Slope rankles me. I won’t have it.

Now, at first, I thought it was just us. I thought to myself, “Oh, poor old Slope, we can’t afford a better data feed, so we are the only ones with this problem in the business. Everyone else is squeaky clean.

Let me tell you, I was wrong. Not only was I wrong, but here’s the truth: almost ALL the data you see out there is absolute shit. I’m not talking about imperfections here and there. I’m talking about shit. Garbage. Junk.

And how come no one notices? Because, out of a combination of blind trust and understandable laziness, they just assume that anyone on the business of financial data must have their act together.

But they don’t. And I think I’m just about the only person screeching about this.

I took it upon myself to do something I’ve never seen anyone else do, which is, one by one, assemble a meaningful data set of earnings dates. I laboriously pulled together the information which I assured was the absolute truth, which was the information directly off a corporation’s own investor relations website. “Right from the horse’s mouth”, as it were.

And, after spending days on this research, what did I find? A 1% error rate? Even 2%. Behold, and be astonished:

Seventy freakin’ percent. And people all over the world are USING this stuff!

Let me be clear, this isn’t data from some niche website in Malaysia. This is from financial websites that are household names. Gargantuan companies with infinite resources. And the data absolutely and positively sucks.

And that’s exactly the kind of data Slope has been providing all this time. Just like almost everyone else.

Of course, I didn’t realize it, and I doubt you did either. And none of us realized it because erroneous dates don’t exactly leap out at you as bad. I can spot a data problem on a chart form a mile away. But it took an email from one guy – – the first ever received – – for me to dig into this.

Here’s the good news, though. After I realized, to my horror, what garbage we were working with, I sought the best data source I could possibly find. The cream of the crop. The best of the best. And I found them.

Their name is Wall Street Horizon, and their data set is the kind that the most serious investment bank analysts put to work.

I regarded their data with skepticism, because every other firm I looked at (including giant sites – – I won’t name names – – but it rhymes with Bahoo Rinance) had junk data. But they gave me an account for examination, and you know how many errors I found?

NONE.

So I am delighted to tell you that this data is in place right this second. It seems a strange this to excitedly announce, “Hey, our data doesn’t suck!” But the cold fact of the matter is that almost everyone else’s does, and their users are just blindly following it.

Slope is no longer in this boat. You are getting TOP DRAWER DATA at an absurdly low price.

Wall Street Horizon strikes me as a top-notch firm, and I hope to do much more with them and their wealth of data. But I wanted you to know as soon as possible about this horrifying discovery and the terrific turnaround I was able to execute once I found out the reality of the situation. If you want to see the detail behind my examination, here it is for the world to see.