Has social media broken the stockmarket?
That is the contention of Cliff Asness, one of the great quant investors
Sometimes efficiency is obvious. On a production line for, say, chocolatey treats, it is a series of whirring, specialised machines busy enrobing a biscuit in caramel, covering it in chocolate, and drying, packing and stacking the product. For an office worker communicating with colleagues it probably involves email. In both cases, the process has been made more efficient by technology. Across almost all industries the story, since the industrial revolution, has been one of tech boosting efficiency.
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This article appeared in the Finance & economics section of the print edition under the headline “The mob and the machine ”
Finance & economics September 7th 2024
- China is suffering from a crisis of confidence
- As stock prices fall, investors prepare for an autumn chill
- Will interest-rate cuts turbocharge oil prices?
- American office delinquencies are shooting up
- Has social media broken the stockmarket?
- America has a huge deficit. Which candidate would make it worse?
- Why Oasis fans should welcome price-gouging
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Trump wastes no time in reigniting trade wars
Canada and Mexico look likely to suffer
How Trump, Starmer and Macron can avoid a debt crunch
With deficits soaring, their finance ministers will have to be smart
What Scott Bessent’s appointment means for the Trump administration
The president-elect’s nominee for treasury secretary faces a gruelling job
What Donald Trump and Bernie Sanders get wrong about credit cards
Forget interest rates. Rewards are the real problem
Computers unleashed economic growth. Will artificial intelligence?
Two years after ChatGPT-3.5 arrived, progress has been slower than expected
Should investors just give up on stocks outside America?
No, but it is getting a lot harder to keep the faith