LMAO, The end is nearrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrr
Submitted by Tyler Durden on 02/17/2012 16:32 -0500
CRAP
GETCO
headlines
Market Manipulation
New York Times
Real estate
It appears that while we were busy over the past month spreading the Greek pre- and post-bankruptcy balance sheet, and otherwise torturing Excel (something we urge other financial journalists to try once in a while - go ahead, it doesn't bite. In fact, it is almost as friendly as your favorite Powerpoint) our peer at such reputable financial publications as Forbes, and many others, were laying of carbon-based reporters and replacing them with... robots. As Mediabistro reports, "Forbes has joined a group of 30 publishers using Narrative Science software to write computer-generated stories. Here’s more about the program, used in one corner of Forbes‘ website: "“Narrative Science has developed a technology solution that creates rich narrative content from data. Narratives are seamlessly created from structured data sources and can be fully customized to fit a customer’s voice, style and tone. Stories are created in multiple formats, including long form stories, headlines, Tweets and industry reports with graphical visualizations.”" In other words, with well over 70% of stock trading now done by robots, we have gotten to a point where robots write headlines and stories read, reacted to and traded by robots. Surely, what can possibly go wrong. And here we were this morning, wondering why the market is not only broken but plain dumb.
Forbes is not alone:
http://www.zerohedge.com/news/latest-market-craze-stock-trading-robots-reacting-stories-written-robots?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29
In other news, this development naturally, this adds a layer of variability in market dynamics which make some completely unpredictable feedback loop imminent: because if a robot is reacting to a headline written by itself (and it is only a matter of time before Narrative Science is acquired by GETCO or some other HFT behemoth in the latest market manipulation scheme) the epic collapse possibilities are simply stupefying.
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Realist - Everybody in America is soft, and hates conflict. The cure for this, both in politics and social life, is the same -- hardihood. Give them raw truth.
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