“What were we even doing there?” I thought to myself. We don’t even know how to trade yet and we are learning about a 2000 dollar system that has enough features to drive you insane. It was not a bad experience, simply one that would of been avoided if I knew the content would simply be a summary of a program that none of us could really use effectively at the time because of a lack of basic understanding in trading.
To this extent in the future maybe I will come to be very grateful to some of the knowledge I have gained at the event. When I understand the theory of trading and can accurately use the technology of Bloomberg, I will be golden for a career as a trader.
One of the incredible features of Bloomberg that really impressed me was the social media tracker that could analyze all social media posts for companies and rate them as negative or positive for the company’s stock. It displayed everything from the volume of posts about the company, how negative the comments were, and how the stock price was effected. What was interesting was that while many stocks were affected by the news about 30% showed no change in direction after the media and social network attention.
I am one that believes in behavioral economics, people do not act rationally most of the time, unlike how economists model things. To this extent I am happy to have attended this event even if it was to learn only one thing that I found extremely useful. With the information that Bloomberg makes simple to attain, one can begin to make strategies and theories for trading successfully.