Curiousity in Investments

What does ‘Innovation In Assembly’ in web2.0 means?

With developed websites, open source is the software where it shows the source code in which developers can modify it. It is available over on the internet. As one of the eight core patterns stated by Tim O’Reilly, Innovation in Assembly can be said as to have some rights reserved. It is to adopt a standard in restricting full re-use of collective data and to ensure that adoption of re-use is low.

“Web 2.0 will provide opportunities for innovation for companies to beat the competition by getting better at harnessing and integrating service provided by others” – Tim O’Reilly

In relation to the above quotation, users these days, tend to find themselves transitioning into a completely new era of cultivating growth and advancement in a new web2.0 era. Users have attained opportunities in the consumer and service industry in expanding their business to perform their needs like it has never been committed before. This is due to Application Programming Interface (API) and the Internet Protocol (IP).

An Application Programming Interface (API) is a feature of a software application that allows other software to manage with it and to call upon the functions and exchange data.

StockTwits

StockTwits is a financial communication web platform for the financial and investing community. Users are able to share ideas, news or information on finance or investments on StockTwits. What makes StockTwits’s information real is that their users include analyst, media and investors as well as public companies such as Bing.com and TheStreet.com. The contents are focused on investing only. It is possible to add specific stocks and save them into your own portfolio and limit the conversation to trusted sources. Comments are short and it allows the reader/user to read the headlines of stock information quickly.

It promotes transparency where contributors (who post up this information on the web platform) are linked to their twitter to view the full history of their tweets.

stocktwits1

How does StockTwits contribute to the pattern: ‘Innovation In Assembly’?

stocktwits0

As mentioned in this post above on API, StockTwits API gives access to most of the data used on their platform. It allows the integration of user data and build tools to help users to visualise their own information. It’s a new way of helping the users to preview their display of information.

StockTwits API had decided to obey the REST (Representational State Transfer) rules by simply changing the format to enable the user to choose their own format. API supports XML, RSS and JSON.

The features of API can be viewed here.

With APIs, it allows users to trust the platform (StockTwits) as it allows access to data which in turns create openness. RSS feeds are widely available in the platform to ensure find-ability. What I like about StockTwits is that they applied API’s best practice of developing a full API documentation for users.

The downsides of StockTwits?

One potential downside is that some of the “twits” are questions, opinions, or statements of exasperation rather than news.

The platform that allows the sharing of data can be dominated by popular companies such as Apple. Therefore the feeds will be about Apple most of the time. The issue has already been address. StockTwits allows users to create a watch list on what they wish to follow to be updated. It is similar to filtration.

Other Links:

http://www.aaii.com/computerized-investing/article/stocktwits.mobile

http://oreilly.com/web2/archive/what-is-web-20.html?page=4

http://stocktwits.com/

http://www.youtube.com/watch?v=8_QPmQ_w2r4

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18 Responses to Curiousity in Investments

  1. sukhshans says:

    Hi Jerfen,

    Its interesting to see how the collective intelligence and developers are helping shape a website in the financial category. While it seems great that users can help share news and opinion and developers can help distribute and built the software to reach a larger audience, it does seem a bit risky. As you have mentioned, a downside is that the “twits” are just questions, opinions or statements and cannot be considered as actual news, what do you think StockTwits can do to make users trust the data hosted on the website?

    -Sukshan

    • ngjerfen says:

      Hi Sukshan,

      Well yes it does seems a little risky though, i myself don’t play stocks as i do think that its a risk to take. Yes it cannot be considered as actual news. In my own opinon, i do think that StockTwits are just for users to upload their knowledge and it is base on the readers to gather knowledge. As stocks, it is not a one stop website where you gather information about a particular investor you are interested in. It is about the amount of different researches from different sources. It is purely base on intellectual knowledge. Some opinion in StockTwits maybe considered bias, but hey, it is purely knowledge 🙂 If you are interested in investing, do go to other sources as well.

      Cheers!

  2. PrapatW says:

    Hi Jerfen

    In my opinion, stock exchange is a war of data and time. StockTwits allow user to access both quality and quantity of data which are needed for this war. API from StockTwits also give their user easier time to process data. Each people like different weapons, in this case, the source of data will be different. User can use API to develop their own program which will allow them to get the latest data from trustworthy people to find the most effective way for a stock exchange.

    Prapat W.

    • ngjerfen says:

      Hi Prapat,

      Thanks for the valuable information/opinion you have provided here! 🙂

      • PrapatW says:

        It’s always nice to have a good discussion on a nice topic. You did a great job picking example that is interesting and easy to understand. You also give lots of information and always give me guideline for my blog post since you post so early.

        Prapat W.

  3. Amber says:

    Hi Jerfen,

    Great post, thanks. Not being a stock trader or in the financial industry, I never would have realised such a website existed. It’s an interesting idea though, and I can definitely see a use for it. If LinkedIn is social networking for your business network, StockTwits would be Twitter-style social networking for your financial industry contacts, and for following others outside your network who are successful in the industry.

    In that context, I wouldn’t really call questions, opinions and statements a disadvantage. Surely just like Twitter you can use the site for both following actual news and in a more social context, depending on how you set up your watchlist?

    • ngjerfen says:

      Hi Amber,

      I myself do not play them but i would be interested to start reading upon such things, maybe in the future it might be very useful. hey you might not know, you could perhaps play stocks in a few years down the road :).

      Thanks for the information. The linkedIn and twitter is a great idea to demonstrate the different web tools that this social platform can be integrated into StockTwits.

      Well, in my own opinion, i do think that some social context could be pretty bias as well.

  4. atang28 says:

    Hi Jerfen,

    Interesting post! I don’t know much about stock trading, however not surprisingly there is such a web 2.0 application for stock trading out there! Do you think that Stocktwits is like a cross between social media and business? Allows users to use it for their personal use/hobby and even for business Opportunities.

    • ngjerfen says:

      Hi Andy,

      Thank you Andy, and about StockTwits i would think that it is incorporating social media platforms into this web tools. Twitter can be linked to StockTwits allowing users to read the short tweets. I am sure it could be for personal usage such as personal investments and also further any business opportunities!

  5. Matt08H says:

    Hi Jerfen,

    What a great application! Being able to access collaborative crowd knowledge of stock information, while risky when relying completely upon it, gives investors the potential to know things they would previously not have known and research in depth to make highly informed stock decisions.

    – Matt

  6. Jason says:

    Hi Jerfen,
    This post was an interesting one. Very informative and reads well. Whats your opinion on companies using this? Advantages and Disadvantages?

    • ngjerfen says:

      Hi Jason,

      Thanks. In my own opinion, i would think that it will be a great impact on external investors. If a company were to expand, they need more capital hence requiring more investors to chip into the capital. This would be a great way to attract investors to involve with the current stock market of a company. Therefore if the stock market is good, investors will definitely start to chip in.

      The advantage of utilising StockTwits would be to be able to follow the current company and to design your own watchlists!

      The downsides are in my post 😉

  7. Hi Jerfen

    Very nice post! I like how you put up a Youtube video too!

    I have never used StockTwits before or heard of it until I read your post, but it sounds like a very useful application. It also seems very professional and offers realistic, relevant, and real-world help to ordinary people who do not have much knowledge about finance and investing (like me hahaha).

    Kind regards, Laura 🙂

    • ngjerfen says:

      Hi Laura,

      thank you! i think the Youtube video would add a vibe to the post and the video is not long! I too do not have much knowledge in finance and investing 🙂 But it is interesting to know such apps exist!

  8. azizalkaldi says:

    Stock Twits does seem to be nice way to monitor the stock market. Since the very nature of the stock market is very volatile and unpredictable, I am sure stockbrokers are hardwired to look at such information with a pinch of salt. That being said, this service would be helpful for casual investors to follow financial trends and learn from expert advice.

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