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Using social media data in investments
Published on January 31, 2017 25 min
Other Talks in the Series: Business Intelligence, Big Data, and Applications in Industry
Hello, I am Dr Ying Zhang. I am a Finance Professor. I would like to talk to you about "Using Social Media Data in Investments".
I will be covering the following issues. Social media data on the Internet. The impacts of social media on financial markets. Why pay attention to social media? Social media: does it matter? Trading strategies based on social media information. Implications of social media. Finally, I will summarize the talk.
There are many social media sites providing free information on stock trading and investments. Some information is legitimate and useful. Some is just a waste of time, even deceptive. Caution is needed when exploring information on the Internet. First, I would like to talk about nine social media channels in which investors can easily obtain free information.
1- Instant Messenger and Short Message Service. Instant Messenger software offers real-time text or voice transmission which allows you to communicate back and forth with peer traders on your list. On the other hand, Short Message Service tends to facilitate connections between known users. SMS is a convenient tool for communicating with your brokers, fellow traders and is part of many traders' daily routines. 2- Brokerage firm's chat room. A special type of semi-public chat room, which is run by online discount brokerage firms, such as E-trade and TD Ameritrade. These chat rooms enable their clients to obtain stock information and share opinions. However, users need to meet a minimum deposit requirement to become a customer of the brokerage firm in order to use its chat room.