Title
Crowds on Wall Street: Extracting Value from Collaborative Investing Platforms
Abstract
In crowdsourced systems, it is often difficult to separate the highly capable \"experts\" from the average worker. In this paper, we study the problem of evaluating and identifying experts in the context of SeekingAlpha and StockTwits, two crowdsourced investment services that are encroaching on a space dominated for decades by large investment banks. We seek to understand the quality and impact of content on collaborative investment platforms, by empirically analyzing complete datasets of SeekingAlpha articles (9 years) and StockTwits messages (4 years). We develop sentiment analysis tools and correlate contributed content to the historical performance of relevant stocks. While SeekingAlpha articles and StockTwits messages provide minimal correlation to stock performance in aggregate, a subset of experts contribute more valuable (predictive) content. We show that these authors can be easily identified by user interactions, and investments using their analysis significantly outperform broader markets. Finally, we conduct a user survey that sheds light on users views of SeekingAlpha content and stock manipulation.
Year
DOI
Venue
2015
10.1145/2675133.2675144
CSCW
Keywords
Field
DocType
crowdsourcing,on-line information services,sentiment analysis,stock market
Crowds,Investment banking,Computer science,Sentiment analysis,Crowdsourcing,Knowledge management,Stock (geology),Stock market
Conference
Citations 
PageRank 
References 
11
0.65
32
Authors
7
Name
Order
Citations
PageRank
Gang Wang146525.30
Tianyi Wang229427.78
Bolun Wang31099.13
Divya Sambasivan4131.00
Zengbin Zhang553627.05
Haitao Zheng6134283.87
Ben Y. Zhao76274490.12