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Sadly, it's official: M* sucks now

MaxBialystockMaxBialystock
edited April 2013 in Fund Discussions
Yes, there have been several contributions from folks here in MFO, about how things have become less than wonderful in terms of the promptness of reporting, day-to-day, at M*.

Wait. Do some more waiting. Cut 'em some more slack. Be patient.... The week-end passes... OK, Now I see updates! It's Tuesday, and yesterday's numbers are "in," at last. .... But wait: not every fund in the portfolio has been updated. I'm still looking at FRIDAY'S numbers for some of my funds.

Some folks here in MFO have already communicated directly with Morningstar about this state of affairs. The responses from M* were typical: indirect, dissembling, making promises, but nothing seems to have been done to restore our confidence. A real pity.

Unacceptable. Morningstar gets the "SUCK" award. What a shame. Morningstar used to be THE source to go to. Those days are gone.

Comments

  • AndyJ
    Hi Max,

    I still like some of the M* stuff not totally dependent on the accuracy/timeliness of price etc. reporting, but I agree ... man, they really don't what they're doing in the data stream/IT department. But hey, it just took a few minutes to set up an actual portfolio (the holdings where the timeliness can matter a lot) at Yahoo.

    They don't do everything an investor needs at Yahoo, but they're consistent and timely with the price reporting, and they keep historical prices up to date too, if you want to do some of the math on returns for yourself.

    Cheers, AJ
  • MaxBialystockMaxBialystock
    Hi, AndyJ. You're right. And I have been, already. It's just a pain: extra steps, doing my own calculations. And I am numerically challenged! LOL.
  • AndyJ
    edited April 2013
    Excel! Excel! Rah, rah, rah!

    (Meaning the computer program; that was not a message from your life coach.)
  • InvestorInvestor
    Reply to @AndyJ: Well, Yahoo has its problems. The other day someone posted that now Yahoo has updated the yearly return information from 2010 just now...
  • InvestorInvestor
    Reply to @AndyJ: Wait, do I hear Microsoft sucks rant coming soon as well...;)
  • Old_JoeOld_Joe
    Reply to @Investor: Still using ClarisWorks 20+ year old spreadsheet on my old Apple G5. Works fine, lasts long time.
  • MaxBialystockMaxBialystock
    Reply to @Old_Joe: Takes a lickin' and keeps on tickin', eh?
  • MaxBialystockMaxBialystock
    edited April 2013
    Reply to @Investor: Microsoft has sucked for a long time. That's old news. We all use Windows, sure. But I steer clear of Outlook or Internet Explorer or anything else that I can avoid from Microsoft, or affiliated.
  • VintageFreakVintageFreak
    I'm sorry, but M* making the sucking sound is not news. Please don't insult Microsoft. Microsoft does not sell crap, and you can get a refund on its product.
  • scott
    Because of the MSFT mention:

  • mrc70
    edited April 2013
    I came across an interesting thread on M* data and tool problems a few weeks go, a relevant discussion to this thread.

    http://socialize.morningstar.com/NewSocialize/forums/p/291948/3132413.aspx#3132413
  • AndyJ
    Reply to @Investor: Yeah, their return info is not good, but in an area where M* is a huge failure (pricing), Yahoo does a pretty good job.
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