Couple of stories from the FT this week that demonstrate the value of social networks to the financial world (or alternatively, the media's obsession with Twitter and Facebook - you decide).
First up, Nomura has apparently been using Facebook to track down Lehman Brothers graduate trainees so it can offer them jobs. I suppose it makes a nice change
to see the site being used to find staff rather than
Meanwhile, a site called
StockTwits - which picks up tweets from traders - has proved a bit of a hit, signing up around 90,000 people. Users tend to be looking for ideas on how others are trading rather than actual tips on stocks.
This is not particularly surprising because, as
Finextra pointed out when StreamBase connected its CEP platform to Twitter, the microblogging site is a notoriously unreliable source of information.