Dabble In The Stock Market? Make Your Next Buy Based On Twitter Sentiment
The much-lauded Twitter-based hedge fund by Derwent Capital Markets only traded for a single month before the company shut down all tweet-based operations – but they’re not done with Twitter yet.
Derwent raised £25 million from investors interested in seeing whether sentiment analysis on Twitter could beat the stock market. And after a year of false starts and anticipation, the fund launched in the summer of 2011… but only traded for a month.
The fund did, however, beat the Dow average and the average of other hedge funds, to bring in about a 2 percent return.
It
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