A recent study in the Journal of Finance by Zhi Da and Paul Gao of the University of Notre Dame shows that data from public Google searches can be used to beat the stock market by up to ten percentage points per year. Similar findings were released last month by researchers at the University of Kansas.
The Notre Dame authors argue that the frequency of Google searches received by a stock (its SVI number) is a better, more direct method of measuring investor attention (a precursor to buying the stock) than traditional, indirect methods of measurement, such as news and advertising expense. Read More »
A reader named Chuck Amos writes:
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My bleg is for a list of reliable, unbiased, and intelligent news sources that present general information in a readable and user-friendly way.
This seems like a very simple problem to solve, but my efforts over the years have been unsatisfactory. Sites like CNN.com are presented reasonably well, but the actual “news” is way too fluffy. Sites like Huffington Post are so miserable to look at that I’m not willing to sift through the train-wreck presentation and look for articles that might be interesting. Sites like Salon.com are willing to dig deeper than many of the mainstream news sites, but the politics are biased and therefore fail the test of what I seek.
To make my search more difficult, I don’t care about video (I have limited time, and I’d rather spend 20 seconds skimming/reading a written article than 90 seconds watching a newscast), and the amount of garbage that comes across Twitter feeds makes that outlet of limited use to me.
I’ve had reasonably good experiences with the Economist, Christian Science Monitor, and Guardian sites, but none of them leaves me completely satisfied.
My perfect news site would simply be a list of headlines that link to well-written, well-researched articles on a broad variety of topics. Sort of like an AP feed, but with articles that contain more than 2 poorly written paragraphs.
Can anyone point me in the right direction?
I love Google. But it’s not a very good economist. Type “unemployment rate,” and here’s what it yields:
The first of these links is from Google, and it tells you that the unemployment rate is 8.7%. The second is to the Bureau of Labor Statistics, which tells you that it is 9.1%.
Technically, both are correct. But you are better off not relying on the Google number. You see most economic discourse is about seasonally-adjusted data—the unemployment rate adjusted to take account of the usual seasonal ups and downs. But Google links instead to the non-seasonally-adjusted data, which virtually no one pays attention to. And this is why its little graph wiggles up and down so much. Read More »
You may have heard of Google Trends. It’s a cool tool which will show you the ups-and-downs of the public’s interest in a particular topic—at least as revealed in how often we search for it. And you may have even heard of the first really important use of this tool: Google Flu Trends, which uses search data to try to predict flu activity. Now Google has released an amazing way to reverse engineer the process: Google Correlate. Just feed in your favorite weekly time series (or cross-state comparisons), and it will tell you which search terms are most closely correlated with your data.
James Altucher on his graduate school obsession with the Asian board game Go, and his attempt to enlist Google China founding president Kai-Fu Lee to help him make millions off of it. Read More »
The next battle in the Google Books dispute comes in a week, when lawyers on both sides meet to consider their next move after a federal judge rejected a settlement proposal. Should Congress step in? Read More »
According to the official Google blog, it’s a recent $168 million investment in a solar-power plant:
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We’ve invested $168 million in an exciting new solar energy power plant being developed by BrightSource Energy in the Mojave Desert in California. Brightsource’s Ivanpah Solar Electric Generating System (ISEGS) will generate 392 gross MW of clean, solar energy. That’s the equivalent of taking more than 90,000 cars off the road over the lifetime of the plant, projected to be more than 25 years. The investment makes business sense and will help ensure that one of the world’s largest solar energy projects is completed.