Financial data about pro firms

Discussion in 'Data Sets and Feeds' started by lojze, Jul 25, 2002.

  1. lojze


    Can anybody say, where to find financial data about pro. firms, also if they are not public companies? (And they they don't cost a lot ...)

  2. Focus reports are filed with the SEC or your Reg org. They should be on file there for the looking.
  3. lojze


    What's included in focus reports?

  4. What data are you looking for?
  5. Asking a prop firm for a financial statement is like asking a loan shark for his tax return. They will try to get rid of you because to them you are a trouble maker. The only firm that I have ever heard of that has no problem giving it is Bright.
  6. lojze


    Simply, I don't want to stay with firm, who has signs of troubles.

  7. We make our Financial available to all of our traders, and even give out a balance sheet to prospective traders. I'm not trying to be "high and mighty" here, but you wouldn't go into business with anyone who is not willing to share their numbers with you. Especially now with all the nonsense out there even with Fortune 1000 companies.

    All firms have this data, all firms file focus reports, and most (better firms) have audited year end statements.

  8. ETG gave me a balance sheet every year I was there without me requesting it. They gave it to me with my k-1 as a matter of course.

    The balance sheet is only worth anything if you know how much is trader money and how much is firm. Don has done a great job of explaining that in past threads.

    It is possible for a firm to have 50 million in capital but the traders have 55 of it and the firm has -5. Or the firm has obligations that are more than there capital. A firm could have 10 million up, but have so many lease and other obligations that they could not pay them if the cash flow slowed down.

    Check your old Accounting 101 books...
  9. Good sure you check the "owners" capital (in our case 'Class A members"...others will vary).

  10. GHJ


    Just as important is a firm's risk management. I've heard of traders losing hundreds of thousands with far less in their accounts--all while the managers in charge of risk fell asleep at the wheel. This has reportedly happened several times at a firm you are intimately close to. :)
    #10     Jul 26, 2002