Hoping to get an education in how the stock market information industry works. That is, where does the financial data/ratios from sites like Yahoo!, Google, your brokers when open an account... and more specifically, how does research companies like Clime's StockInValue, StockDoctor get their data from?
From my understanding of the system, there seem to only be 3 financial information providers around the world - ThomsonReuters, S&P (which owns MorningStar) and Bloomberg - i know they're bonds, just assumed it's equities as well.
Your brokers and all other information providers seem to be getting equities data and ratios from these 3 (or their subsidiaries)... Most of the free ones seem to get the ratios straight from them and just presented it differently, slightly differently...
The better ones seem to do some calculations on their database from the standard financial statements from the big guys and present it to their design, but the source data are pretty much the same.
Other databases seem to either provide a window into MorningStar and that's about it.
So from what i understand, there seem to be no original/first hand research from pretty much any information provider - it's all just slightly different presentation from either one or two providers.
Am i right?