London-based Derwent Capital Markets is set to launch a £25 million hedge fund that will use Twitter to predict the market, according to press reports.
The family-owned firm will launch the Cayman Island-based fund in February, using Twitter emotional and behavioural trends to predict market moves, says TheNextWeb.
The planned fund comes after research published in October found that analysing the content of daily Twitter feeds using two mood tracking tools enabled the team to predict with an 87.6% accuracy the daily ups and downs in the closing value of the Dow Jones Industrial Average.
Derwent Capital Markets has now brought on board one of the paper's authors, Dr Xiao-Jun Zeng from the University of Manchester, to help apply the theory to the real world.
Investment fund set to use Twitter to judge emotion in the market - TheNextWeb
Here's a link to the research: http://ow.ly/3qKq5.
to $120K base, double OTE, benefitsNew York City, NY or Boston, MA (USA)
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