Monday, 27 April 2015
Last updated 48 min ago
Aug 18 2011 | 2:30am ET
A hedge fund that invests based on Twitter feeds enjoyed a successful first month, topping both the broader markets and its average peer.
Derwent Capital Markets returned 1.85% last month, its first, Financial News reports. By contrast, the Standard & Poor’s 500 Index fell 2.2% on the month, while the average hedge fund hovered between rising and falling less than 1%, according to industry indices.
Derwent uses a proprietary trading model that analyzes the use of “calm” words on Twitter to predict movements in the Dow Jones Industrial Average. The fund invests in liquid equities and equity indices; Derwent has claimed that its model is 87.6% accurate.
London-based Derwent raised US$100 million for the fund.
It is unclear how the hedge fund has performed this month—or how many calm words it was able to find amidst the market volatility and doom-and-gloom predictions surrounding the downgrading of U.S. sovereign debt.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…