Bloomberg: Why there is no backup
By Michael Evans
RESTORING my 3G to factory settings the other day, I was again struck by the lack of backup for the popular Bloomberg app. This is an excellent news and information application for the investor and it effectively tracks an investment portfolio with lots of available data. However, when disaster strikes and you have to restore (or buy a new phone) there is no way of recovering all the painstakingly entered portfolio details. Re-entering means searching for company names, entering quantity of holding and purchase price. Having learned by previous mistakes, I now keep all this information in a Numbers spreadsheet so I can enter it again with relative ease.
"We also agree with both of your points and the solution to both problems are planned and are somewhat related. The first issue regarding the portfolio total returns is somewhat complicated because our applicaiton supports equity securities from all of the world's major exchanges, denominated in a wide range of securities. As a result, a straight sum of the values is not sufficient to provide an accurate result. To perform return calculations, it is necessary to know the user's base currency and the dates on which the securities were purchased and the exchange rates in effect on those dates. It is vastly simpler if all of the securities are denominated in the same currency. This may be the most common case and we may show the total if it is true, we just have not done that yet.
One solution that we have planned that would solve the problem above as well as the storage issue, is to link the list of securities on the MyStocks, to the securities in the Portfolio Tracker on our Bloomberg website. The portfolio tracker is a free widget which performs many of the calculations described above and it could serve as a central repository for the securities which would then be stored so that they would be backed up in the event that your device fails and is initialized.
Hope this helps."