In another bid to leverage the wisdom of crowds — but this time, literally, a pure profit play, a new startup called Collective Intellect claims to be able to sift through thousands of opinions through blogs and forums to give traders the leg up on upcoming financial opinion.
Where’s the secret sauce? Through sophisticated filters it will be able to prioritize, organize and summarize all the content into a easy-to-read package delivered to its paying subscribers. For example [courtesy of Cnet]
Some of the more successful results have been with bits of information from obscure sites on stocks that aren’t always in the limelight. In August, the system picked up information about a contract that Taser, the stun gun company, landed in France. The French contract was officially announced Oct. 5 and caused the stock to jump about 12 percent that day.
However, at $45,000 per year per 10 seat subscription, you might just want to hit newsgator and technorati first.
Dr. Tony Hung also blogs at DeepJiveInterests.com