How to Use the Bloomberg Terminal · 2020. 12. 7. · How can you use the terminal? • News...

HowtoUsetheBloombergTerminal

Bloomberghistory:

• MichaelBloombergwasthefounder• Startedthecompanyin1981witha$10millionseverancepackagefrom

SalomonBrothers,wherehehadbeenabondtrader• ``One-stopshop’’forfinancialmarketprofessionals• MaincompetitorisReuters• AlthoughincreasinglytheInternetitselfisacompetitor• About325,000terminalsworldwide• AbouthalfintheU.S.,whichcanbeanissueforjournalistsbased

elsewhere• Andtheyaren’tcheap• Ifyoudothemathonthatpricetimes325,000terminalsworldwide,that’s

significantrevenue• Clientsaremoneymanagers,traders,brokers,analysts,centralbanks,

corporatetreasurydepartments,governmentfinanceministries

Forajournalist,what’sagoodstartingpointforusingtheterminal?

• TOP;23yearsafterIfirstusedtheterminal,IstillautomaticallygotoTopfirst

• Topstoriesoftheday• SpecialtyTops(withouttheoutlineformat)• Toseealist,typeTOPbutdon’thitenter;thenclickon``More

Functions’’under``Functions’’• READ<Go>• <End/Back>isthe``go-back-to-the-last-screen’’key• TheyellowkeysarehelpfulforusingtheBloomberg• Youcanalwaysenterawordinthesearchfieldtohuntfor

something–withorwithouthittingenter• Let’ssayyou’relookingforinformationonaparticularcountry–Pick

acountry

Howcanyouusetheterminal?

• Newsstories:• NH(Newsallsources)• Iusuallyleaveonescreenonthis,andtrytohavetheNHtickerat

thebottomofwhateverscreenI’musing• NH``MoreFunctions’’showsyouallthenewsservicestheterminal

has• Afewexamples:• NHBN(Bloomberg)• NHNYT(NewYorkTimes)• NHAPW(AssociatedPress)• NHWPT(WashingtonPost)• NHDPA(DeutschePresse-Agentur)

KeyNI(NewsIndustry)Codes

• ``NI’’standsfor``NewsIndustry’’• NIwithouthitting<Go>andthen``MoreFunctions’’givesyoualist,

butit’sverylong• Countries/Regions:• NIUS(UnitedStates)• NIUK(UnitedKingdom)• NIJP(Japan)• NIGER(Germany)• NIMEX(Mexico)• NILATAM(LatinAmerica)• Ifyouwanttofiltersoit’sjustonenewssource,typethesource

you’relookingforattheend:NIUSBN(NewsIndustry,U.S.,BloombergNews)

MoreNIcodes

• Topics• NITRD(Trade)• NIECO(Economics)• NIFX(ForeignExchange)• NITEC(Technology)• NISOF(Software)• NIHWY(Internet)• Doesanyoneknowwhythecodeis``HWY’’?• NIMNA(MergersandAcquisitions)• Youcancross-referenceusingTNI

Markets:

• WEI(WorldEquityIndices)• Realtime• WanttoseethedaytheDowcrashedin1929?• INDU(thecodefortheDowJones)<Index>GP<Go>• QRwilltellyouliterallysecond-by-secondwhatanindexisdoing• Andwhatitdoessecond-by-secondmatterstoalotofclients• Worldwide• WanttoseewhattheLaosStockExchangehasdonerecently?• Type``LaosStock’’,andthen``SearchforLaosStock’’• WB(WorldBonds);Remember,MichaelBloombergwasabondtrader• Bondsmayseemesotericandtechnical,butfundamentally,theyrepresentthepriceof

money,andthere’snothingmoreimportantintheBloombergworldthanthat• Alsorealtime• BondtradersareacoremarketforBloomberg,asPierreNaim,abondtraderIusedto

talkintheBahamas,isacasestudy

Companies:

• Youcanfindthenamesofcompaniesbyjustenteringtheminthecursorfield

• Oryoucangetlistsofcompaniesonstockexchanges• Let’staketheDowJonesIndustrial• INDU<Index>MEMB(Members)• Nowyou’vegotalistofthecompanieswhosesharepricesmakeupthe

DowJonesIndustrialAverage(Youcandothisforotherstockexchangesaswell)

• Let’stakealookatonecompanyandseewhatinformationisavailable• Right-clickonthecompany• DESisagoodbasepagetostartwith(Description);Clickon``More’’• Marketvalue• Headquarters• Numberofemployees• Pageforwardforfinancialinformation

Companies(cont.):

• Ontheterminal,thetemplateforfindinginformationonacompany:• (Corporatecode)(e.g.,AAPLUS)<Equity>,andthen...• DES(Description)• CN(Companynews)• CNBN(JustBloombergstories)• HDSforshareholders–Thiscanbeveryusefulforstories• Forcontactinfo,keepclickinguntilthere’snoplus/minussign• Let’ssayyouwanttoknowifthestateofCaliforniahassharesin

Apple• GP(Graph)• CFforcompanyfilings

Companyfilings

• NHEDG(Edgar;ElectronicDataGathering,AnalysisandRetrievalsystem;companieswhoarerequiredtofileformswiththeSEC);thenwordsearchonthecompany

• ButtheCFfunction(fromthepreviousscreenisprobablyabetterwaytodothis)

• InCanadait’scalledSEDAR(SystemforElectronicDocumentAnalysisandRetrieval);ontheBloombergit’sNHSDR

• WithNHEDG,lookfor10Ksand10Qs(Requiredregularreports)• Earningscallsundercompanyfilings(theCFfunction)–Mystudentsusedthisa

lot• Agreatwaytogetquotesforstorieswithouthavingtogetthequoteyourself!• Wordsearchesonearningscalltranscripts;let’ssayyouwanttoknowwhat

ApplehassaidabouttheAppleWatch• Youactuallyhavetodownloadthedocument• ThenControlF(Ffor``find’’)

Analystinformation

• ANRafteracompany• SoforApple,itwouldbeAAPLUS<Equity>ANR• Consensusratingsinupperleft-handcorner• Oftenyoucanholdthecursoroveranythinginyellowtofindoutwhatitis,e.g.``ReturnPotential’’

• Forcontactinformation,clickontheanalyst• Youcanhuntforwhethertheanalysthasbeenquotedbefore,andappearstobeamenabletothatbyusingBiograph,then``RecentNews,’’thensearchingon``interview’’

• Foranalystreports:RESorBRC

Currencies:

• Currencytradingisaworldwithinaworld;thishashistoricallybeenReuters’domain,butBloomberghasmadeabigpushtotakemarketsharefromReutershere

• WCV<Go>(WorldCurrencyValues)• YoucanuseGPtoputthecurrency’sperformanceintograph

format• Againmayseemesoteric,butthiscanbehighlyrelevantfor

newsstories• Forexample,whatifyouwerewritingaboutBrexit,andyou

wantedtoincludetheBritishpound’sperformancesincetheBrexitvote(June23,2016)?GBP<Crncy>GP

• Adjustthetimeframes• NIFX(Newsstoriesaboutcurrencies)

Commodities

• NICMD(Commodities)• NIOIL• Oilisagreatstory,andeasytoreporton;oildrillersare

fundamentallygamblers• OTOP(TopOil)• Oilproduction:<OPEC>;Rightclickonthecountry• CL1<Cmdty>(Oilprice)• Goldiseveneasiertoreportonthanoil,forthesamereasons• GC1<Cmdty>(Goldprice)• Coffeeisanothergreatstory• KC1<Cmdty>(Coffeeprice)• Soisrice• THRQWRGB<Index>(Thairiceprice)

Researchonindividuals

• BIO(Name)• Newsstories• Careerhistory• Address/phonenumber• Networth• Clickon``Billionaireprofile’’• Billionaires:BBIOorRICH• Networthanalysis

Economicindicators

• ECO• Youcanchangethecountry• ECST(Ecostats)• Leftcolumnformoredetail• WECO(Worldeconomy)• CPIYOY<Index>GP(U.S.inflation)• TheFedFundstargetrate:FDTR<Index>ECOS

Economicindicators(cont.):

• GEW(GlobalEconomyWatch)

• Growthrates

• OurpresidentbelievesAmericaiscapableof5-6percentgrowth;youcanfindoutherewhenthelasttimetheU.S.economygrewthatquickly

• TotalGDPofcountry

• Unemploymentrates

• U.S.unemploymentisata50-yearlow

Creditratings

• Yetanothertopicthatseemsesoteric,butthereisnobetterwayofanalyzingacompanyorcountrythanbylookingatthemarket’sassessmentoftheprobabilitythatthecompanyorcountrywillpaybackwhatitowes

• CSDR• RATC(Companycreditratings)• RATD(Ratingdefinitions)• NICRA• TNI(countrycode)CRA• NHSPC,NIBMP,NHFII(Standard&Poor’s,Moody’s,Fitch)• We’llcomebacktothiswithRichmond

Storyideas

• NHWordsearches(``increasingly’’fortrendstories)• OruseNH<Go>tomonitoraparticularbreakingnewsstoryofinterest

• Then``ChinaTariffs’’;``SmartMatch’’• Stat-trendstoriesbasedonOPECproductioncharts;forexample,let’ssayyouwanttoknowifVenezuela’spoliticalcrisisishurtingtheiroilproduction

• OPEC<GO>;rightclickonthecountry• UseGP(Graph)

It’sNotAllPureBusiness,Either...

• BLAW(Legal)

• AV(Audiovisual)

• Opinion:OPIN<Go>

• BSP(Sports)

• NIENT(Entertainment)

• FLY(Flightconnections)

ALittleRichmondContext

• HaveyouallbeentotheRosietheRiveter/WWIIHomeFrontNationalHistoricalPark?

• https://www.pinterest.com/pin/156429787026861768• HowmanyofyouknewthattheWarriorshaveplayedgamesinRichmond–in1964,whenitwasstillinpartlivingoffthelegacyofitsWorldWarIIboomtownera?

• https://www.eastbaytimes.com/2017/02/08/richmond-holding-black-history-month-celebration-and-dinner/

• Andgoingforward,doeseveryonealreadyknowthatferryservicefromRichmondtoSanFranciscoisscheduledtostartnextyear?

https://www.pinterest.com/pin/156429787026861768

https://www.eastbaytimes.com/2017/02/08/richmond-holding-black-history-month-celebration-and-dinner/

https://www.eastbaytimes.com/2017/02/08/richmond-holding-black-history-month-celebration-and-dinner/

CityofRichmondStories

• Themostbasicsearchmethod,applyingwhatwe’vejustlearned:NH<Go>,enter``RichmondCalifornia,’’thenchoosesmartmatch’’

• SeveralofthesearecompaniesbasedinRichmond;we’llgetbacktothose

• Let’slookatacoupleofotherexamplesofwhatwefoundthere


• ThisstoryfromlastmonthsaysthatAudiusedtheoldFordplantbytheRosietheRivetermuseumtounveilitsnewelectricauto

• Thisiskindofinteresting;thisisthetranscriptofaninterviewwiththeCEOofalistedcompanycalledBlueApron,whichprovidesmeal-kitdeliveryservices.Let’slookupBlueApron.

• It’saseriouscompany--$260millionmarketcap–andtheyapparentlyhaveusedRichmondforanautomationpilotproject,whichwouldbeworthfindingoutmoreabout

• Andinfact,ifyoulookintheircompanyfilingsyoucanfindlinkstoBlueApronthatgivemoredetails...


• ButitturnsoutthatatBlueApron’sRichmond``fulfillmentcenter,’’thecompanyisfacingalawsuit:

• ``TheCompanyissubjecttoalawsuitfiledinCaliforniaSuperiorCourtunderthePrivateAttorneysGeneralActonbehalfofcertainnon-exemptemployeesintheCompany’sRichmond,Californiafulfillmentcenter.ThecomplaintwasfiledonOctober16,2017,andallegesthattheCompanyfailedtopaywagesandovertime,providerequiredmealandrestbreaks,providesuitablerestingfacilitiesandprovideaccuratewagestatements,tonon-exemptemployeesinviolationofCalifornialaw.Thepartiesarepresentlyengagedindiscovery.TheCompanyiscurrentlyunabletoprovideanyassurancesastotheultimateoutcomeofthislawsuitorthatanadverseresolutionofthislawsuitwouldnothaveamaterialadverseeffectontheCompany’sconsolidatedfinancialpositionorresultsofoperations.’’

CityofRichmondStories(cont.)

• Moreefficientmethod:Richmond<Help>• AlthoughforsomereasonIoriginallyfoundthefollowing

throughRichmond<Help>,butthismorningcouldn’treplicateit,sothistimelet’sdo:RichmondRackFuelLocation<Help>

• Pageforwardto``RackFuelLocationSanFranciscoCAUS’’• Thesearepricesofatypeofgasoline(10%ethanol)refinedat

Chevron’sRichmondrefinery• GPtographtheprices• Rising–Wouldbeinterestingifpricesofthistypeofgasoline

haveincreasedmorethangeneraloilprice(welearnedearlierhowtosearchforthegeneraloilprice)


• Evenmoreefficientmethod:RichmondCalifornia<Help>

• ``ChevronCorpRichmondRefineryCalifornia’’

• ``Refineryprocess’’givesyoutherefinery’scapacityfordifferenttypesofproducts,inbarrelsperday


• ``OutageHistory’’–That’sprettyinteresting

• They’veonlygottwo,though;clickingonitdoesn’tshowmore

• ``News’’givesyoualookatfiresthey’vereported;flaringthey’vereported,andsomecompanyreports,whichwe’llgetbackto.


• Let’sgobacktoRichmondCalifornia<Help>

• Pageforwardto``CityofRichmond’’(8712MFUS<Equity>)

• Lotshere

• Buildingpermits

• HPforthedata,orGPforagraph

• Numberisrising–PresumablythatspeakswellforRichmond’seconomy


• Clickon``CreditRisk’’

• AssetsandLiabilities

• Thatdoesn’tlookverygood

• Nowclickon``RelatedNews’’


• Thisisasomewhatoldstory,from2015,butitgivesgoodhistoryaboutthecity’sdebtratingbeingdowngradedbyMoody’s

• Let’sseeifwecanfindthecreditreportwhereMoody’sdowngradedRichmond

• Rememberthatearlier,welearnedaboutthethreemajorcredit-ratingcompaniesandthecodeswecanusetoaccesstheirinfo


• NIBMPforMoody’s

• Enter``RichmondCA’’inthesearchfield

• Success!


• Grantedthatthisinfoisfrom2015,butthereisstillagoldmineoftidbitsinhere:

• Chevronrefinerywasmorethanaquarteroftheassessedvaluationofthecity

• ``In2014,despitedecliningrevenues,thecityincreasedexpenditures,reflectingunusuallyweakbudgetarymanagement.’’

• That’snotverynice


• There’smoredetailedcommentaryinhere(``thecityburgeonedduringWorldWarII,withtheKaiserShipyardsandnavalfueldepot,butexperiencedsignificantdeclinethereafter’’),alongwithareferencetotheriskthatthecitycouldreachintoitsbetter-runwastewateroperationsinordertoalleviatefiscalpressures.

• Thelattercouldbeastoryidea• Ifyouwanttotalktothepeoplewhowrotethis,gotothebottomofthereport...


• LoriTrevino AnalystPublicFinanceGroup Moody'sInvestorsService,Inc. OneFrontStreetSuite1900 SanFrancisco,CA94111U.S.A. JOURNALISTS:212-553-0376 SUBSCRIBERS:212-553-1653

• ChristianRichardWard AnalystPublicFinanceGroup JOURNALISTS:212-553-0376 SUBSCRIBERS:212-553-1653


• Let’sseewhatelsewecanfindrelatedtoRichmondfromthecredit-ratingcompanies

• Standard&Poor’s–Nothing;thatmaymeanRichmondneverpaidStandard&Poor’storatethem

• Moody’s–Limitedfurthersuccessbysearching``RichmondCA’’


• ThisonefromAugust2015concludestheMayreviewthatdowngradedthecity

• Moredetailedreport• ``ThecurrentactiondowngradingtheCity'sissuerrating...toBa1fromBaa1reflectstheCity'sinadequatestepstoaddressitslong-termstructuralimbalanceinFYs2015and2016.’’

• ``DepletionofitscashpositionoverthelastsevenyearshaslefttheCitywithverylittleflexibilitytosustainitsoperationswhenfacedwitheconomicorfiscalchallenges.’’

• Ataminimum,usefulstringforstories


• ThisoneIfoundbysearchingNIBMPfor``Richmond,’’butnotusing``CA’’;sometimesyouhavetotrydifferentsearchmethods

• ThefollowingarenotdirectlyaboutthecityofRichmond’sfinances,butdocontainsomeinterestinginfo

• Forexample,fromDecember2017,wehaveareportreferencingan$873,404loantoBudgetSelfStorage(forexample,thatit’s97percentleased,whichindicatesthere’sagoodmarketforthestoragebusinessinRichmond)


• MovingonintheNIBMPsearchwithoutusing``CA’’,inOctober2016wehaveamuchmoreinterestingone–areferencetoaHilltopMallloan

• EveryoneknowaboutHilltopMall?• Moody’ssaidin2016thattheyexpectedthe$64.35millionloantoresultina``significantloss’’;that’sgreatcolorforanyonewritingabouttheplantoreviveHilltop

• Nameoftheanalystswhowrotethisareatthebottomofthereport,ifyouwanttochasethem


• ForFitch,ifwehuntforawhileweeventuallygettoaDecember2013reportthatreferencesaloaninvolvingapropertyonBlumeDrivewithtenantsincludingUniversityHealthcareandAllianceClothing

• AnotheronJacuzziStreet,witha``broker’’tenant• AndoneonLakesideDrive,withtenantsincludingYMCA

andNewfield

• Ifanyofyourstoriesinvolveanyofthoseareas,theremaybepotentiallyusefulinfo

• Justanindicationofwhathuntingaroundwithcredit-ratingcompanyreportscanyield


• I’mtoldChevronisimportantformany/most/allofyourstories,solet’sseewhatwecanfindontheBloombergaboutChevron,andaboutChevronandRichmond

CityofRichmondStories(Cont.)

• TickerforChevronisCVXUS<Equity>• DESforadescription;Pageforwardforfinancialdetails• Chevronanalysts;shareholders• AsIassumemostofyou,ChevronisnowbasedinSanRamon;theyusedtobebasedinSanFrancisco

• Notethatifyoupageforwardinto``strategy,’’eventuallyyougetareferenceto``upgradedCaliforniarefinery’’inRichmond,indicatinghowimportanttherefineryistothecompany

• Solet’sseewhatotherreferencestoRichmondwecanfind


• Onewayofdoingthisissimplythroughthe``CN’’(CompanyNews)function,andthenawordsearchfor``Richmond’’

• CVXUS<Equity>CN• There’salottheretogothrough• Bearinmindthatsomeofthesearestories/reportsfrommediaoutletsotherthanBloomberg

• AmoretargetedmethodistogothroughChevron’scompanyfilings(CF)


• CVXUS<Equity>CF

• Enter``Richmond’’inthesearchfield

• Let’slookatafewentries,togetanideaofwhat’sthere


• WhenyoufindsomethingofinterestinCompanyFilings,it’sbettertodownloadfirst,thenusesearchfunction

• ThisdocumentisfromapresentationbyaChevronexecutivevicepresidentataconferencelastmonth

• He’stouting``Richmondmodernizationstartupexpected4Q18,’’whichisrightnow

• It’susefultoknowthattheRichmondrefineryisbeingmarketedasakeypartofcompanystrategy

• Let’slookatthenextone


• ThisisapresentationmadetoinvestorsinJune• CitesRichmondrefinery’skeyroleindistributionofU.S.WestCoastandMexicanretailmarkets

• Citesthe``modernization’’oftheRichmondrefineryasa``majorcapitalproject’’

• Ataminimum,that’suseful-to-excellentstringforstories


• Froma``CorporateResponsibility’’report• Thisisprettyinteresting• ``Since2013,ourrefineryinRichmond,California,hasfunded

acommunityairmonitoringprogram.Theprogram,whichisoperatedbyindependentexpertArgosScientific,providesreal-timedata24hoursadayaboutairqualityinthecommunity.DataarecollectedandreportedfromthreestationsalongtheRichmondRefinery’sfencelineandthreeneighborhoodstations—NorthRichmond,AtchisonVillageandPointRichmond.Sincethelaunchoftheprogram,theairmonitorshavecontinuouslytrackedairquality.ResultsshowthatairqualityinRichmondisonparwithotherBayAreacommunities,includingthecityofSanFranciscoandMarinCounty.’’


• Notsurehowaccurate/objectivetheprecedingis,butataminimum,it’snoteworthythatthey’rehypingtheirsupposedcommitmenttoairquality

• Iwouldhavethoughtthatsincethey’veputthisinareport,Chevronshouldbewilling/requiredtoprovidethedata,ifyourequestit


• IfyougotothenextreferencetoRichmond,you’llgetmorepositivepropaganda/data/mixture-of-both:

• ``In2016,Chevronspent$183millionwithsuppliersfromwesternContraCostaCounty,California,wheretheRichmondRefineryislocated,bringingcontractswithlocalsuppliersto$485millionfrom2012through2016.Therefineryhasaspecialfocusonprovidingopportunitiesforsmall,minority-ownedandwoman-ownedbusinesses.In2016,therefineryspent$62milliononsuchbusinessesintheBayAreaand$86.5millionoverall.InthenineBayAreacounties,79smallbusinessesprovidedtherefinerywithservices,ofwhich14werewoman-owned,fiveminority-ownedandfourveteran-owned.’’


• Withthisone,theyevenoffertoshowyouthedata!

• ``Tolearnmore,readourcasestudyatchevron.com/crcasestudies.’’

• AndanicepicoftheCEOofacompanythatmeetssomeofthecriteriathey’retouting,incaseyouwanttofollowupwithherdirectly.

• OK,let’slookatonefinalcompanyfilingthatmakesareferencetoRichmond


• Thisisfroma10Qreport:• ``AsinitiallydisclosedintheAnnualReportonForm10-KfortheyearendedDecember31,2017,California’sBayAreaAirQualityManagementDistrict(BAAQMD)submittedaproposaltoChevroninOctober2017seekingtoresolvecertainNOVsrelatedtoviolationsthatoccurredatChevron’sRichmondRefineryandAvon,Californiaterminalin2015.InApril2018,ChevronandBAAQMDenteredintoasettlementagreementtoresolvetheseNOVsfor$171,000.’’


• Wellthatcertainlydoesn’tsoundascheeryastheexcerptsfromChevron’sCorporateResponsibilityreport

• Ididn’tknowwhatanNOVwas.Doyou?

• Thereportnevertellsyou,whichisnotexactlyamodeloftransparency.


• IGoogled:``ChevronNOV’’

• Clickedon``ChevronNOV–DocumentCloud’’

• Ah...``NoticeofViolation’’...Thatmightexplainwhytheyusedanot-well-knownacronymandthennevertoldyouwhatitstoodfor


• Anyway,nowwe’vegotafilingshowingthatChevronpaidtheBayAreaAirQualityManagementDistrict$171,000toresolve(presumablypollution-related)violationsinRichmondareathatoccurredin2015.

• That’scertainlyworthyofinclusionifthesubjectofastoryhastodowithChevron’simpactonRichmond


• YoucanalsosearchontheBloombergforpubliclytradedcompaniesbasedinRichmond

• Actually,Ididn’tknowhowtodothisuntillastweek,whenImessagedBloombergtoaskhowtosearchforcompaniesbasedinOakland

• TomessageBloomberg,hit<Help>,then``LiveHelp’’


• Toscreenforcompaniesbythelocationoftheirheadquarters,from{EQS<GO>}:1)Intheamberfieldunder"AddCriteria",starttyping"Domicile"andselectfieldfromthelistofoptionsthatappears(Country,State,orCityofDomicile).

• Ifoundthatactuallyyouchose``Equalto‘’• Thentype``Richmond’’beneaththat,andenter• Seewhereitsays``CityofDomicile=``Richmond”?75matches?Clickon

that.• Rightclick;``ViewResultsatthisPoint’’• Then``SeeResults’’• Thistookawhile,buteventuallyIfoundthecompaniesbasedinRichmond,

California–Therewerethree


• EksoBionicsHoldings(EKSOUS<Equity>DES)• EksoBionicsHoldingsIncdevelopsexoskeletonsolutionsforsupportingorenhancingstrength,enduranceandmobility.TheCompany'stechnologiesrangefromhelpingthosewithparalysistostandupandwalk,toenhancinghumancapabilitiesonjobsitesacrosstheglobe,toprovidingresearchfortheadvancementofR&DprojectsintendedtobenefitU.S.defensecapabilities.


• $131millionmarketcap

• Definedas``HealthCareSupplyChain’’company

• Oneanalystcoversthem

• Hastalkedtothemediabefore,thoughit’sbeenawhile

• Shareholders

• Let’slookatthenextonewefound


• SangamoTherapeutics:SGMOUS<Equity>DES• Biotechcompany• Genomictherapies,medicinesforpatientswithgeneticdiseases

• Lotsofanalystcoverage• BasedonthesetwoitseemstheremaybeastoryaboutRichmondappealingtocompaniestheinhealth/biotechsector


• MechanicsBank:MCHBUS<Equity>DES

• $644millionmarketvalue

• Onlyoneshareholderlisted

• Companynewshassomepressreleases

• Notalotthere;you’dhavetosomeprobing


• YoucanalsosearchanalystreportsforreferencestoRichmond

• RES• Search``RichmondCalifornia’’• LooksmostlyrelatedtoChevron• ThisonefromJPMorgancouldbeuseful–FiguresonRichmondrefiningcapacitycomparedwithotherChevronplantsintheU.S.

• AlittlesmallerthanElSegundorefineryandagoodbitsmallerthanMississippi,butmuchbiggerthanSaltLakeCity


• That’sfollowedbyagreatsummaryoftheRichmondrefinery,whatitmakesandhowitfitsintothemarketintheBayArea:

• ``TheRichmondrefineryislocated~20milesfromSanFranciscoandmainlyproducesgasoline,jetfuel,dieselfuel,andlubricants.RichmondisthelargestrefineryinSanFrancisco(~31%share),withANDV’sMartinezrefinerysecondlargest(~20%share),whileShell,Valero,andPhillips66have17%,17%,and14%marketshares,respectively.Webelievethisrefineryisconfiguredtoprocessmoremediumandlightbarrels.’’


• Inparticular,lookatthatchart–greatstringcomparingRichmondrefinerysizetothoseinMartinez,BeniciaandRodeo

• Ididn’tknowanyofthisinfobefore;reallygoodstuff.


• Let’sseeifthere’sanythingelseofinterestunderRES<Go>:

• Somemorebondratinginfo,thistimefromKroll

• Ididn’tknowhowbigKrollwas,soIlookeditupontheBloomberg

• Apparentlythey’renumberfour,behindMoody’s,S&PandFitch


• Similartowhatwefoundbefore;thisisaloanforabuildingat3151RegattaBlvd.

• ``A435,835sf,Class-BindustrialwarehousefacilitylocatedinRichmond,California,approximately14milesnortheastoftheSanFranciscoCBD.Thesubjectisanon-traditionalrealestateassetas86.5%ofitstotalsquarefootageconsistsofspecializedrefrigerationandfreezerequipmentthatisgermanetothecoldstorageindustry.Shouldtheloandefault,thesubjectmaynotbeasreadilymarketableastraditionalcommercialrealestateproperties.Inaddition,thepropertyis91.3%leasedtoasingle,sponsor-affiliatedtenant.‘’


• Soyougettheidea–theBloombergcanbeagreatsourceofinfoifyoualreadyknowwhatyouwanttowriteabout

• Butitcanalsoprovidevirtuallyendlessstoryideas,orstring,ortips

• Orjustplainamusement!

• Ifyouspendyourtimelearninghowtouseit


• AndIhopeyoudo!

• Don’thesitatetocontactmewithquestions(Ican’tguaranteeIcananswerthem,butifIcan’tIshouldbeabletofindsomeoneatBloombergwhocan):

• [email protected]

• Thanksforyourtime–goodluck!

mailto:[email protected]

How to Use the Bloomberg Terminal · 2020. 12. 7. · How can you use the terminal? • News...

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