Friday, 27 November 2015
Last updated 1 day 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.
Oct 21 2015 | 10:41am ET
One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…