Can Twitter Predict The Stock Market? 28 Year-Old Bets 25 Million Pounds It Can

The financial industry has shown a lot of innovation when it comes to using social media. The hedge fund industry is now planning to use social media status updates to detect investment sentiment and hence make investment decisions.

The financial industry has shown a lot of innovation when it comes to using social media. First the industry figured out that the use of location based services can make homes vulnerable to thefts and hence the home insurance premium for users of location based services should be jacked up. Then the industry started using social media status updates to detect fraudulent insurance claims and unworthy loan requests. The hedge fund industry is now planning to use social media status updates to detect market sentiment and hence make investment decisions.

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