“What’s online in some of the chat rooms can highlight issues such as low morale in some of these companies, or maybe plans to close stores or change suppliers,” said SVM Asset Management fund manager Colin McLean.īoth Miton Group fund manager George Godber and Artemis fund manager Tim Steer said they used Eagle Alpha’s services, with Godber describing its Tesco analysis as “enormously insightful.” “In general, I think it’s a very good idea to look at employee opinions which will give you inside information that you would not get from banks’ research notes, but you would have to be careful to filter out the noise,” said Hendrik Klein, head of Swiss high frequency trading firm Da Vinci AG.įund managers said comments on the Internet by current or former employees could offer valuable insight into such companies, although investors would have to decide whether to believe the picture painted by often anonymous online posters. That does not mean investors will take these comments at face value without filtering them, but there is a sense that unofficial sources and social media are being taken more seriously as a way to go beyond broker research and company disclosure. One of these troves of gossip has been Tesco employee forum, for example, where one anonymous writer posted: “I hope that the new boss takes this opportunity to ensure that systems are worked properly. While it may be far removed from stockbrokers’ traditional balance-sheet analysis, and often less well written, traders and fund managers are scouring online messageboards and forums to gauge mood, morale and management success - information easily overlooked by busy investors. Workers look at their phones while walking at the Canary Wharf business district in London February 26, 2014.
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