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Tweets as valuable as company data for hedge funds

Twitter and Facebook posts help make more-informed investment decisions, EY has found

Tweets as valuable as company data for hedge funds

Data pulled from social media sites such as Twitter is one of the most popular sources of information for hedge funds, with managers using it as much as private company data to gain trading insights.

A survey by EY found 27% of hedge funds use or plan to use social media data in their investment strategies over the next six to 12 months. The same number use or expect to use private company data — information from company filings and reports — over that time period.

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