Valuation statement stock price- why are prices delayed to previous day's closing after market close

John R. Munn on

Why doesn't the valuation statement use the latest closing
prices after trading is closed for the day? For example,
it's Monday and the market closed at 4:00PM, more then an
hour ago. Yet the valuation statement uses Friday's closing
prices. That just seems delayed too much. At what time are
today's closing prices reflected in the valuation statement?

Rob Nagler on

Hi John,

The closing prices are used for official valuations so they need to be accurate. Our end of day data providers gather the data from multiple sources, clean them, add corporate actions (splits, mergers, symbol changes, etc.), and produce high quality data files for us to download. All of this takes time. Then, we take the prices and important them in our database. There are a lot of prices for us to incorporate so this takes some more time.

Here's a stackoverflow answer that offers more detail: https://stackoverflow.com/a/17263126

Cheers,

Rob

John Munn on

hoi Rob... Thanks for responding so quickly. I had no idea how much work was done behind the scenes ater closing. After midnight, are the prices valid for the previous day's trading? In other words, for example, will the prices reflected in the valuation statement created July 28 at 1:00AM be the validated closing prices from July 27?

Thanks!!! BTW... I still have a bivio t-shirt from the NAIC convention in orlando from maybe 20 years ago!

John

On Mon, Jul 27, 2020 at 6:19 PM Rob Nagler <nagler@bivio.biz> wrote:

Hi John,

The closing prices are used for official valuations so they need to be accurate. Our end of day data providers gather the data from multiple sources, clean them, add corporate actions (splits, mergers, symbol changes, etc.), and produce high quality data files for us to download. All of this takes time. Then, we take the prices and important them in our database. There are a lot of prices for us to incorporate so this takes some more time.

Here's a stackoverflow answer that offers more detail: https://stackoverflow.com/a/17263126

Cheers,
Rob

William Waskosky on

Hi John,

I believe that the data sync over in the night when it syncs to your brokerage account.

Bill Waskosky
TS Field Technician, Technology Services Department/ Assigned: Harding HS
Saint Paul Public Schools * 1930 Como Avenue, Saint Paul, MN, 55108
Office: 651-744-3135 * Ext: 43135 * Service Desk: 651-603-HELP (3435)
Submit a Request

From: club_cafe@bivio.com <club_cafe@bivio.com> on behalf of John R. Munn via bivio.com <user*223700001@bivio.com>
Sent: Monday, July 27, 2020 4:25 PM
To: club_cafe@bivio.com <club_cafe@bivio.com>
Subject: [External] [club_cafe] Valuation statement stock price- why are prices delayed to previous day's closing after market close

This email originated from outside of Saint Paul Public Schools. Do not click links or open attachments unless you recognize the sender and know the content is safe.

Why doesn't the valuation statement use the latest closing
prices after trading is closed for the day? For example,
it's Monday and the market closed at 4:00PM, more then an
hour ago. Yet the valuation statement uses Friday's closing
prices. That just seems delayed too much. At what time are
today's closing prices reflected in the valuation statement?

Laurie Frederiksen on

This is a common misunderstanding. Closing stock prices that are used for your club valuations are not read from your broker. They are imported from our pricing data source.

Laurie Frederiksen
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On Mon, Jul 27, 2020 at 7:18 PM William Waskosky via bivio.com <user*33549200001@bivio.com> wrote:

Hi John,

I believe that the data sync over in the night when it syncs to your brokerage account.

Bill Waskosky
TS Field Technician, Technology Services Department/ Assigned: Harding HS
Saint Paul Public Schools * 1930 Como Avenue, Saint Paul, MN, 55108
Office: 651-744-3135 * Ext: 43135 * Service Desk: 651-603-HELP (3435)
Submit a Request

From: club_cafe@bivio.com <club_cafe@bivio.com> on behalf of John R. Munn via bivio.com <user*223700001@bivio.com>
Sent: Monday, July 27, 2020 4:25 PM
To: club_cafe@bivio.com <club_cafe@bivio.com>
Subject: [External] [club_cafe] Valuation statement stock price- why are prices delayed to previous day's closing after market close

This email originated from outside of Saint Paul Public Schools. Do not click links or open attachments unless you recognize the sender and know the content is safe.

Why doesn't the valuation statement use the latest closing
prices after trading is closed for the day? For example,
it's Monday and the market closed at 4:00PM, more then an
hour ago. Yet the valuation statement uses Friday's closing
prices. That just seems delayed too much. At what time are
today's closing prices reflected in the valuation statement?

Rob Nagler on

Hi John,

Our software automatically updates valuations for the day after the closing prices come in (usually well before midnight). That's actually its own separate job.

As Laurie notes, AccountSync only brings in transactions from your broker, not the closing prices. Brokers do not have to value your portfolio for accounting purposes so their closing prices do not have to be accurate.

Glad the t-shirt is still around and kickin'! Thanks for being a Bivio supporter all these years. :)

Cheers,

Rob

Leonard E. Douglass on

In my experience as a club treasurer [for more than 10 years
using Bivio] preparing a valuation statement on the Thursday
evening before a Saturday investment club meeting the
updated valuation data for that days market closing was
usually available between 8 and 9 pm of that Thursday.

Mark Eckman on

As long term investors, this should not be an issue. Some quotes might help this discussion:

"Though I am always in haste, I am never in a hurry" - John Wesley
"Great difficulties may be surmounted by patience and perseverance" - Abigail Adams
"Our patience will achieve more than our force" - Edmund Burke
"Adopt the pace of nature: her secret is patience" - Ralph Waldo Emerson
"The two most powerful warriors are patience and time" - Leo Tolstoy

When accounting was all on paper, the prices appeared the next day in the newspaper. But now in the digital age, we want prices on our phones now!!! If this hurried rush incorrectly values the portfolio and it is used for club business, it creates problems. If used to value a withdrawal it creates huge problems.

Mark Eckman

On Tue, Jul 28, 2020 at 9:41 AM Leonard E. Douglass via bivio.com <user*20291800001@bivio.com> wrote:

In my experience as a club treasurer [for more than 10 years
using Bivio] preparing a valuation statement on the Thursday
evening before a Saturday investment club meeting the
updated valuation data for that days market closing was
usually available between 8 and 9 pm of that Thursday.

Mark Eckman

Jeff Rauch on

For purposes of official club business (monthly status, withdrawals, etc. ) I run reports as of the end of the month, usually a couple days into the new month. Occasionally I run reports close to our meeting (2nd Friday) for information.

While these data are a week or two out of date at the meeting, they are consistently spaced and avoid variations due to random reporting dates.

Jeff Rauch, Treasurer

SCS Investment Club

Sent from my iPhone

On Jul 28, 2020, at 11:18 AM, Mark Eckman via bivio.com <user*24054700001@bivio.com> wrote:

As long term investors, this should not be an issue. Some quotes might help this discussion:

"Though I am always in haste, I am never in a hurry" - John Wesley
"Great difficulties may be surmounted by patience and perseverance" - Abigail Adams
"Our patience will achieve more than our force" - Edmund Burke
"Adopt the pace of nature: her secret is patience" - Ralph Waldo Emerson
"The two most powerful warriors are patience and time" - Leo Tolstoy

When accounting was all on paper, the prices appeared the next day in the newspaper. But now in the digital age, we want prices on our phones now!!! If this hurried rush incorrectly values the portfolio and it is used for club business, it creates problems. If used to value a withdrawal it creates huge problems.

Mark Eckman

On Tue, Jul 28, 2020 at 9:41 AM Leonard E. Douglass via bivio.com <user*20291800001@bivio.com> wrote:
In my experience as a club treasurer [for more than 10 years
using Bivio] preparing a valuation statement on the Thursday
evening before a Saturday investment club meeting the
updated valuation data for that days market closing was
usually available between 8 and 9 pm of that Thursday.

--

Mark Eckman

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