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'It's All About Early Detection': The Role Of Social Media In Financial News

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'It's All About Early Detection': The Role Of Social Media In Financial News

A group of modern investors joined Benzinga’s Trading Summit to discuss strategies for successful investing in today’s market, with social media receiving a wealth of attention.

Benzinga’s own Luke Jacobi moderated the panel Thursday, with Voyager CEO and co-founder Steve Ehrlich, DumbMoney.tv’s Chris Camillo and IG Group US CEO Rupert Osborne taking part.

The Flow Of Financial Information 

The flow of information was a central point of the discussion.

Jacobi noted the ample opportunity present in how information is disseminated through the marketplace.

Camillo said finding information early is central in today's market. 

“It's all about early detection of change or when information is changing or information is surfacing. Where does that information surface first?”

The flow of information in finance starts with unstructured conversation that often surfaces on social channels before transitioning to a more conventional nonfinancial channel, he said. 

To stay up to date, Camillo said he spends roughly four hours a day researching modern information streams.

“It's all about initially trying to detect that anomaly,” he said.

Ehrlich said social media is key to sourcing information about the crypto market.

"You're actually looking to see where the momentum [is] and what people are saying or where you see some potential depth or volume in the marketplace," he said. 

Such information can be found on Twitter as well as other social networks like Reddit, Ehrlich said. 

Osborne spoke about the "big asymmetry" between the information available to Wall Street and retail traders, adding that his company has attempted to bridge that gap over the years.

In addition to sourcing social media, IG offers access to thought leaders in the space.

"A big part of a successful retail plan is making sure that customers have access to really good quality information." 

Related Links:

How This Trader Turned $20K Into $10M In 3 Years

Voyager And Ethos Develop New Crypto Trading Platform

Benzinga's Luke Jacobi, left, IG Group's Rupert Osborne, Voyager's Steve Ehrlich and DumbMoney.tv's Chris Camillo at the Benzinga Trading Summit on Thursday, June 20. Photo by Mandar Parab. 

Posted-In: Benzinga Trading Summit Chris Camillo DumbMoney.tv IG Group US Rupert Osborne Steve EhrlichNews Events Best of Benzinga

 

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