Thursday, 21 August 2014
Last updated 6 min ago
Jul 12 2013 | 9:00am ET
Paul Hawtin is taking another stab at social media-based trading.
Hawtin, the man behind the "Twitter Fund" and Derwent Capital Markets is now launching Cayman Atlantic, which will focus on Twitter and Facebook to gauge sentiment about companies and other trading opportunities.
Hawtin told CNN Cayman is structured differently than his previous efforts, as managed trading accounts rather than a fund, offering improved liquidity and better analytics technology.
Cayman's proprietary technology uses filters and algorithms to scan 400 million tweets daily, boiling the information down to roughly five key tweets based on which the firm will trade global equities or commodities.
"We are trying to detect events that are breaking out on Twitter before the press, the media and the world are hearing about it," Hawtin told CNN.
Hawtin is targeting 12% annual returns and said over the 11 months he's been modeling the strategy it has returned 18%. The minimum investment is $150,000 to open an account. The fund expects to be approved to trade by the Cayman Islands Monetary Authority later this month.
Aug 4 2014 | 7:42am ET
By now, U.S. and international subscribers have received their home or office delivery of the special 500th issue of Futures magazine. You can too!—a very special offer follows. The issue is the largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders. Read more…
The July/August 2014 issue is our largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders.
The Alpha Pages Editor's Note