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GFD Blog

August 1914: When Global Stock Markets Closed

This week marks the hundredth anniversary of the beginning of World War I. On June 28, 1914, Austrian Archduke Franz Ferdinand was assassinated in Sarajevo. This event led to a month of failed diplomatic maneuvering between Austria-Hungary, Germany, France, Russia, and Britain which ended with the onset of the Great War, as it was originally called.

Austria-Hungary declared war on Serbia on July 28, causing Germany and Russia to mobilize their armies on July 30. When Russia offered to negotiate rather than demobilize their army, Germany declared war on Russia on August 1. Germany decla ...

American Tobacco and the Legacy of the Antitrust Laws

An original member of the 12 stocks that made up the original Dow Jones Industrial Average in 1896 ceased to exist last month, though few people noticed. General Electric Co. is the only one of the original 12 members that remains in the DJIA. The National Lead Co. (now NL Industries Inc.) and Laclede Gas Co. (now Laclede Group Holding Co.) were removed in 1916 and 1899 respectively. Other companies among the original 12, such as the United States Leather Co., American Spirits Manufacturing Co. and United States Cordage Co. disappeared long ago.

Beam, Inc. was acquired by Suntory Hol ...

Global Financial Data Adds 40 CAPE Ratios to the GFDatabase

Global Financial Data has added 40 CAPE Ratios to its database, primarily for OECD countries.

The CAPE Ratio is the cyclically-adjusted price-to-earnings ratio, also known as the Shiller P/E, which was developed by the Nobel Prize winning economist Robert Shiller. The CAPE Ratio is a moving average and is calculated as the price divided by the average of ten years of earnings. Graham and Dodd, in their classic book, Security Analysis, argued in favor of smoothing out P/E Ratios to avoid the volatility inherent in the ratio.

The CAPE Ratios for the United States have the most ...

Expansion of the GFDatabases

Global Financial Data has added 20,000 files covering 40 developed and developing OECD countries.

Over 2000 macroeconomic files relating to GDP, the balance of payments, and imports and exports have been added, covering sub-sectors of GDP, such as:
  • GDP Deflators
  • Exports of Goods and Services
  • Government Final Consumption
  • Fixed Capital Formation
  • Private Final Consumption
Also included are over 1700 files on the Balance of Payments, focusing on Current Account Debits, Credits and Balances and the Value of Goods for Imports, Exports and ...

ONE HUNDRED YEARS OF STOCK PRICE DATA

ONE HUNDRED YEARS OF STOCK PRICE DATA

NO EXCHANGE BIAS, NO SURVIVORSHIP BIAS

Global Financial Data now offers historical price data on common stocks for all stock exchanges in the United States since 1915. No other company provides such a comprehensive record of US Stocks encompassing regional exchanges such as the Boston, Chicago, Philadelphia or Los Angeles.

PROBLEMS IN EQUITY DATA

Inherent problems occur within traditional equity data feeds due to the existence of an exchange bias and the survivorship bias. Only GFD has researched, compiled, generated and produ ...

The End of the Gold Standard

It was 100 years ago, in 1914, that the Gold Standard died. When World War I began, most countries went off the Gold Standard and attempts to return to a Gold Standard since have all failed. Some people have called for a return to the Gold Standard as a way of disciplining governments and ensuring that they do not inflate their way out of their current fiscal problems. If it were only that easy.

What many people don’t understand is that in the long run, the International Gold Standard was a very brief phenomenon, and the fact that the world moved to a Gold Standard in the late 1800s ...

The Worst Hyperinflations in History: Hungary

If you were to ask most people which country suffered the worst inflation in history, they would answer Germany, since Germany’s hyperinflation after World War I is probably the most famous. By 1923 when Germany finally put an end to its hyperinflation, it took 1 trillion old Marks to get 1 new Rentenmark. As devastating as the German inflation was, there were three hyperinflations that made the German case look amateurish: Hungary in 1946, Yugoslavia in 1992-1993 and Zimbabwe from 2004 to 2009. Of these three, Hungary’s was the worst of them all.

Hungary was no stranger to hyperinfl ...

Global Financial Data Adds over 1600 Exchange Rate Files to the GFDatabase

Global Financial Data is happy to announce that it has added over 1600 new exchange rate files to the GFDatabase, doubling the number of exchange rate files within the database.

All of the new files are cross exchange rates between currencies other than the United States Dollar with over 100 cross rates to the Euro, 70 cross rates to the British Pound, 50 to the Canadian Dollar, and so forth. Virtually all of the series have daily data that extend back to 1900. Many of the series have monthly data that extend back into the 1800s.

If you know the currency codes that are used by ...

Government Benchmark Bond and Total Return Series Extended and Updated

Global Financial Data has updated a number of its long-term government bond series. These updates include both the 10-year Benchmark Bond files as well as the Total Return Series for Government Bonds. Data for several of these countries, such as Austria, Denmark, France, the Netherlands, Russia, Spain and Sweden now extend back to the 1700s. Other series have been extended further back into the 1800s and have improved their granularity.

During the past few years, Global Financial Data has added extensively to its Fixed Income Securities Database which now includes over 6000 files. T ...

GFD Announces Data Partnership with Updata to Provide Superior Technical Analysis

Global Financial Data is pleased to announce its partnership with Updata to provide its long-term, historical data series through their software platform. Updata is the leader in providing tools that allow unparalleled technical analysis of data from other sources. Through Updata, GFD’s subscribers can use the multitude of tools that Updata offers to analyze, backtest and screen the extensive data series that GFD provides to its clients.Updata gives end-users of Global Financial Data an array of tools to maximize use of the data. The integration is seamless and provides the following core p ...