Wednesday - June 24, 2009
Hedge fund managers betting Twitter will give them an edge in rapid trading.
I don’t think I have ever posted anything from the financial pages before.
I know I should keep up with things but to tell you the truth, I just don’t read the financial pages too often. In fact, hardly ever.
Wasn’t always thus. I used to faithfully read the IBD, my first port of call in finance and stocks etc. It was always a pretty good source too.
And of course the WSJ. As time went on and after we moved here though, I seemed to lose interest and there has been so many other things to occupy my time, I just ignore it now.
However, my wife reads the financial pages here every day, and she brought this story to my attention.
I deemed it interesting enough to share and hope you find it so too. I don’t wanna bore anyone. Sometimes it’s hard to know exactly where the line is when I choose a story to share. Kinda like pot luck and hope for the best.
Anyway ... whodda thought that the CIA would be in Venture Capital?
Hedge fund managers are turning to Twitter in an attempt to steal a march on their rivals.
By Richard Tyler, Enterprise Editor
Finance page, The telegraphTraders are using software developed by US-based technology StreamBase to monitor “tweets” for price sensitive information.
The software plugs into Algorithm-based automated trading platforms that have been used by traders for years. But rather than searching Reuters or Bloomberg the software now scans Twitter.com.
Streambase – whose client base includes Royal Bank of Canada and London-based hedge fund BlueCrest Capital Management – was commissioned to develop the software by several “unnamed” clients.
The software allows traders to take into account “event-based” information published on Twitter in their automated equity, bond and foreign exchange trading.
The company, whose investors include Inqtel, Central Intelligence Agency’s venture capital arm, claims it could give traders an edge when deciding whether to trade on breaking news, like terrorist attacks and natural disasters, rather than waiting for the information to be filtered through providers like Reuters Thomson or Bloomberg.
Nasir Zubairi, a former product manager for algorithmic trading and foreign exchange e-commerce at Royal Bank of Scotland, said the City would be looking at websites like Twitter.com as a useful market information “broadcast tool”.
“Markets tend to buy on rumour and sell on facts,” he said.
Not just markets either. Anyone speculating and or investing should be buying on rumor and selling on facts.
Learned that at Wade Cooke’s knee. In a manner of speaking.
Oh hey, speaking of books, (well I am now) if you have any interest in the markets, even just a little bit, grab hold of a book if still in print called,
The Wall Street Money Machine. True, its outta date by now but even so the information in that book is still very good.
Posted by peiper
on 06/24/2009 at 11:08 AM
Filed Under: • Finance and Investing •
• Comments (0)
•
Trackbacks (0) •
Permalink • Five Most Recent Trackbacks:
Amazing aerial images taken by daring Allied pilots on secret missions during WW 2
(1 total trackbacks)
Tracked at Hookers and Booze
peiper over at Barking Moonbat EWS found some absolutely kickass aerial photos from WWII. I grabbed this one because I’m a big fan of the movie A Bridge Too Far.…
On: 11/23/09 03:14
Clear Thinking and Straight Talk
(1 total trackbacks)
Tracked at baldilocks
Let Them Fight or Bring Them Home Read all of it--and tell every American you know to do so. (Thanks to BMEWS) UPDATE: The author of the above blog is…
On: 10/02/09 08:29
A Box With Four Sides
(1 total trackbacks)
Tracked at Macker's World
See, Afghanistan was worth saving. I can't say the same about Pocky-stawn, especially since it possesses nuclear weapons and no thanks to North Korea, China, and AQ Khan. So they…
On: 05/07/09 01:37
Display it with pride
(1 total trackbacks)
Tracked at Macker's World
Take a look at the sidebar and click on the "DHS Certificate" shown. You'll see what Crappy Nappy thinks of those who believe in Limited Government and Constitutional Rights. Therefore,…
On: 04/19/09 10:25
A Bad Time To Call
(1 total trackbacks)
Tracked at Conservatism Today
Drew at Barking Moonbat Early Warning System was in a foul mood as he took a call from a guy with the Republican party while he was doing his taxes…
On: 04/14/09 05:46
DISCLAIMER
THE SERVICES AND MATERIALS ON THIS WEBSITE ARE PROVIDED "AS IS" AND THE HOSTS OF THIS SITE EXPRESSLY DISCLAIMS ANY AND ALL WARRANTIES, EXPRESS OR IMPLIED, TO THE EXTENT PERMITTED BY LAW INCLUDING BUT NOT LIMITED TO WARRANTIES OF SATISFACTORY QUALITY, MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE, WITH RESPECT TO THE SERVICE OR ANY MATERIALS.
Not that very many people ever read this far down, but this blog was the creation of Allan Kelly and his friend Vilmar. Vilmar moved on to his own blog some time ago, and Allan ran this place alone until his sudden and unexpected death partway through 2006. We all miss him. A lot. Even though he is gone this site will always still be more than a little bit his. We who are left to carry on the BMEWS tradition owe him a great debt of gratitude, and we hope to be able to pay that back by following his last advice to us all:
It's been a long strange trip without you Skipper, but thanks for pointing us in the right direction and giving us a swift kick in the behind to get us going. Keep lookin' down on us, will ya? Thanks.
- Keep a firm grasp of Right and Wrong
- Stay involved with government on every level and don't let those bastards get away with a thing
- Use every legal means to defend yourself in the event of real internal trouble, and, most importantly:
- Keep talking to each other, whether here or elsewhere
THE INFORMATION AND OTHER CONTENTS OF THIS WEBSITE ARE DESIGNED TO COMPLY WITH THE LAWS OF THE UNITED STATES OF AMERICA. THIS WEBSITE SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE UNITED STATES OF AMERICA AND ALL PARTIES IRREVOCABLY SUBMIT TO THE JURISDICTION OF THE AMERICAN COURTS. IF ANYTHING ON THIS WEBSITE IS CONSTRUED AS BEING CONTRARY TO THE LAWS APPLICABLE IN ANY OTHER COUNTRY, THEN THIS WEBSITE IS NOT INTENDED TO BE ACCESSED BY PERSONS FROM THAT COUNTRY AND ANY PERSONS WHO ARE SUBJECT TO SUCH LAWS SHALL NOT BE ENTITLED TO USE OUR SERVICES UNLESS THEY CAN SATISFY US THAT SUCH USE WOULD BE LAWFUL.
Copyright © 2004-2008 Domain Owner
Oh, and here's some kind of visitor flag counter thingy. Hey, all the cool blogs have one, so I should too. The Visitors Online thingy up at the top doesn't count anything, but it looks neat. It had better, since I paid actual money for it.
RSS 2.0 
Atom 
