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Who Erred Here?

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The Dow Jones Industrial Average was down 7.90 today, closing out a tempestuous month at 12638.32.

So what’s wrong with this screenshot from Yahoo! (as always, click on image for larger version, then use magnifying glass above upper right corner for an even larger view)?

Clue: The mistake is exactly the same one made by Google, as illustrated by this screenshot (ditto earlier parenthetical):

I’m puzzled. Do these Internet giants get their data from some back-alley source other than the obvious authoritative one? And despite all the technology they represent, do they place their data on their websites manually instead of using the automatic routines of a program (which presumably should not repeat the opening price for a day as the closing price for that day on just one day without doing so for all days)? And did they both pull their data from the same negligent third party non-authoritative source that made the same ad hoc error in the same market average on the same day, or is Google simply copying its answers from Yahoo! (or vice versa)?

That’s the very last time I’ll rely on either for any reliable market data. One such error (and as would be expected, further review does in fact reveal that yesterday’s close is not the sole error) for either would be one error too much, since one would never know when or where another might occur. But I don’t believe in coincidence quite enough to suppose there to be no connection between these two simultaneous blunders.

bumper sticker [] - calls & puts

Written by macheide

30 May 2008 at 7:49 pm

Posted in calls & puts


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