Tag Archives: Social Media

Good news, social media people! The Securities and Exchange Commission has declared that social media are widely used and available, and therefore suitable venues for releasing official corporate information.  Over at the New York Times DealBook blog, Michael De La Merced notes that the SEC has reversed direction on their intepretation of the Regulation Fair Disclosure (Reg FD) rule.  That rule says that public companies must make important information available to all investors at the same time, so none have any advantage in acting on the news.  The SEC now recognizes that a disclosure via social media meets this test - as long as investors have been notified that such information may be found in those channels.

Sounds like a great way to get a ton of twitter followers, just tell your shareholders that you'll be releasing earnings numbers via your twitter account.  Props to the SEC for recognizing what's really already happening, and also for ruling in the spirit of the rule.  This can only lead to greater transparency of corporate information, and that's always good for investors.

Earlier this week, Sina Corp., the company who provides the Chinese social media service called Weibo, saw a 3.8 percent rise in stock prices. Bloomberg reported that Weibo, a micro blogging platform comparable to that of Twitter, is now offering a premium service for users who are willing to pay a fee of 10 yuan per month. The hope is that they will be able to offer services users will actually really want to use in order for them to oblige to paying a fee.

Recently, Weibo has been appearing in the news due to the role it played in the June 14 Chinese food scandal. It was on this day that Inner Mongolia Yili Industrial Group Co. announced a recall of infant formula that was found to contain mercury. A Wall Street Journal article reports that searches pertaining to the incident were blocked from the social media site. It’s believed that censorship of this sort is done in an effort to control the spread of news on food safety, something that could threaten the stability of that Chinese economic sector.

With the growth of China’s economy currently in question, it makes sense that the Chinese government would want to preserve their strongest industries. Right now, with last years sales reported at $28 billion, one of those industries is dairy. Directly preceding the release of this information, Yili’s shares dropped 10 percent, which is the maximum fall allowed in one session.

This issue gives new perspective to the Chinese internet censorship issue. It is often projected in a negative light, attaching to it a stigmatism of the Chinese government encroaching on the population’s freedom of speech and freedom of access to information. But in situations like this, where negative news spread via social media could potentially wreak serious havoc on an industry integral to economic stability, should regulation be enforced? Also, what about people who might not have otherwise heard about the recall and continued to consume tainted food?

With the sharp rise in popularity of social media services, there very well might be an increasing need for new forms of regulation.

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Be sure to read the full risk disclosure before trading Forex. Please note that Forex trading involves significant risk of loss. It is not suitable for all investors and you should make sure you understand the risks involved before trading. Performance, strategies and charts shown are not necessarily predictive of any particular result. And, as always, past performance is no indication of future results. Investor returns may vary from Trade Leader returns based on slippage, fees, broker spreads, volatility or other market conditions.

Social media guru Brian Solis has published a new book entitled “The End of Business as Normal,” which he discusses in this recent Fast Company article. This article presents the incontrovertible stats and facts that illustrate how social technologies and media have become core to our cultural fabric.

The title of Solis’s new book got me thinking about how social has already created new business models and opportunities and has breathed new life into some older industries.

Financial services companies such as Currensee would not exist and blossom were it not for the power of social networks to meet the need of Forex traders and institutional and retail investors seeking to collaborate and mimic trading strategies. StockTwits is another example of a financial service spawned by social. It’s also helping other Fortune 500 companies ‘get social.’ Meantime, “old-school” financial institutions have been realizing that social media not only augments their services but also provides new opportunities for marketing and customer communications. Check out this story about The Hartford’s recent “Achieve Without Limits” social campaign.

The music industry has been impacted on all fronts by social media. MySpace, an early darling of the social space, has become a destination for bands and singers to directly connect with fans. Facebook has provided another booming platform for artists who are using applications such as RootMusic’s BandPages to promote themselves to fans (RootMusic even drummed up $16 million in recent funding). And the innovation keeps humming – just last week RockCityClub, creator of the world’s first “Social Music Network” for independent music artists and bands, went live. Meantime, Spotify’s integration with Facebook keeps it top of the music social apps.

Another industry completely transformed because of social media is news reporting and publishing. Today, citizen journalists break the news. We turn to Twitter and Facebook as our “ticker.” Journalists themselves tweet second-by-second updates, creating real-time news feeds. NPR’s Andy Carvin’s vanguard coverage and curation of the Arab Spring set the bar for other reporters and news organizations. Mainstays of the media, the Wall Street Journal and The New York Times have also innovated their business models and products to compete for, retain and profit from their socially motivated readers and subscribers. If you’re interested in this topic, it’s worth reading Matthew Ingram’s regular column on GigaOm.

Needless to say, we are in the midst of an incredible social orbit. Social is the new normal, to quote Solis. I agree 100 percent.

 

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Be sure to read the full risk disclosure before trading Forex. Please note that Forex trading involves significant risk of loss. It is not suitable for all investors and you should make sure you understand the risks involved before trading. Performance, strategies and charts shown are not necessarily predictive of any particular result. And, as always, past performance is no indication of future results. Investor returns may vary from Trade Leader returns based on slippage, fees, broker spreads, volatility or other market conditions.

Social media accounts for 22.5 percent of the time Americans spend online, according to a recent Nielsen report covered by The New York Times. It’s no surprise that Facebook topped the lists of social sites where we spend the most time. But when looking for guidance and advice about where to place your hard-earned dollars, maybe it makes better “cents” to tune into the investment decisions others are making. The following services seem like good places for sourcing and sharing investment advice with some nifty social tools. Interestingly, several of them leverage the practice of mimicry, or auto trading. This is one of the hottest trends in social investing - whether you are trading stocks, currency or other funds - allowing investors of all levels to leverage the success of select, experienced traders.

SocialPicks – A community for stock market investors to share investment ideas, exchange market research and track peers’ investment performance. The service also tracks picks by financial “gurus” such as Warren Buffett, professional analysts and financial bloggers so you can see how well your investment perform compared to them.

Covestor – Using this service, you can track what more than 180 proven investors are doing with their own money, choose whom to follow and mirror their trades.

E*Trade – Maybe best known for its baby commercials, the company introduced its Online Investment Community a few months ago, creating a social platform that lets participants tap into the collective knowledge of other E*TRADE customers and validate their investment strategies.

If you’ve been playing your cards right, then maybe a social network exclusively for the wealthy is for you? Affluence.org is an exclusive online social network for the affluent and influential. Its aim is to form a socially conscious, elite and exclusive community that helps wealthy, influential and affluent people make life better for both themselves and others. If you want to be part of the club, you need to have a net worth of more than $1 million or an income of $200,000 a year.

And, if you are looking to “pay it forward” by “giving back,” you should also check out Fundly, a social fundraising site that helps causes accept donations from donors and gain new ones via Facebook, Twitter, LinkedIn and other social channels.

What other social networking resources have you come across during your investment journey?

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Be sure to read the full risk disclosure before trading Forex. Please note that Forex trading involves significant risk of loss. It is not suitable for all investors and you should make sure you understand the risks involved before trading. Performance, strategies and charts shown are not necessarily predictive of any particular result. And, as always, past performance is no indication of future results. Investor returns may vary from Trade Leader returns based on slippage, fees, broker spreads, volatility or other market conditions.

On Friday, FX Street launched their survey for the Forex Best Awards 2011. Great idea inspired by inviting the Forex community to vote for their favorite tools and resources.

While I really like the concept, I read through the categories and was a bit shocked that I didn’t see “Best Forex Social Network” listed. I think about all of the Forex social networks that have cropped up – just in the last year.

  • FX Bees
  • ForexSocial
  • myFXbook
  • FXinteraction
  • FX Knight
  • MeetFX
  • BeTrade

I was curious as to why they didn’t have this category given the large role social media and social networking plays in almost everybody’s life. It’s not a fad. It’s not just a website or a discussion room. It’s about giving a community of people a way to connect. Whether it’s a broad as Facebook or as exclusive as Currensee – it’s a network of people who have something in common. Social networks distribute news faster, create stronger connections, enable communication where there was none, provide instantaneous access to knowledge and information and are a fun and engaging way to connect with other people.

Especially when you think of the financial services world. In the past, financial services companies and brands struggled with connecting with customers. Sales teams and call centers were often the only conduit between a customer and a company. Social media provides a new outlet for traders and investors to voice their opinions and insights and to interact with a company. Now, more than ever, there is two-way communication between companies and individuals, traders and institutions. The lines have blurred between what is service, what is sales and what is social.

Given the prominent role social media has taken in the explosion of Forex trading and investing, it’s disappointing that FX Street missed the social network boat. They had Best New Contributor and Best Book but nothing that acknowledged the importance of social networks in how Forex traders make decisions every day. So, Francesco, I ask you…where are the social networks in your Best of Forex list?

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Be sure to read the full risk disclosure before trading Forex. Please note that Forex trading involves significant risk of loss. It is not suitable for all investors and you should make sure you understand the risks involved before trading. Performance, strategies and charts shown are not necessarily predictive of any particular result. And, as always, past performance is no indication of future results. Investor returns may vary from Trade Leader returns based on slippage, fees, broker spreads, volatility or other market conditions.

This week we are thrilled to put the employee spotlight on David Karp. Many of you may already know David from our webinar series, which he graciously hosts at 7am EST. He is part analytics extraordinaire, part social media maven, and fan of all things orange. His blog limeduck.com has a post for every occasion, and can answer 99.2% of life's greater questions.

Official title: Director of Marketing

Unofficial title: "umm, are you the one I should talk to about..."

From: New York City.  Got a problem with that?  Good. I didn't think so.

Journey to Currensee: Art School, Business School, IBM, Startups, go figure.

Favorite thing about the office: Free fig newtons

Favorite project here at Currensee: The Orange Couch

I would never trade my Orange Couch.

When not rockin’ it at Currensee, you’ll find me At a secure undisclosed location (unless you're on Foursquare) making, writing about, photographing or maybe even eating food.

Favorite expression: What could possibly go wrong?

Celebrity doppleganger: Gonzo. What do you mean he's not a celebrity?

Stay tuned for next week’s employee spotlight.

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Be sure to read the full risk disclosure before trading Forex. Please note that Forex trading involves significant risk of loss. It is not suitable for all investors and you should make sure you understand the risks involved before trading. Performance, strategies and charts shown are not necessarily predictive of any particular result. And, as always, past performance is no indication of future results.

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Be sure to read the full risk disclosure before trading Forex. Please note that Forex trading involves significant risk of loss. It is not suitable for all investors and you should make sure you understand the risks involved before trading. Performance, strategies and charts shown are not necessarily predictive of any particular result. And, as always, past performance is no indication of future results. Investor returns may vary from Trade Leader returns based on slippage, fees, broker spreads, volatility or other market conditions.

Etiquette, such a funny word. There are books about etiquette, there are even etiquette classes, and back in the day I believe an A in etiquette was required to graduate from Wellesley. As someone who always says “Please” and “Thank You,” I wonder why it’s so hard for some people to add these three words into their vocabulary? If you can’t say “Please” or “Thank you” why should I expect you to give up your seat on the subway for me, or offer to hold the door when I’m struggling with 3 iced coffees for my office mates. People struggle with etiquette in their day to day lives so why wouldn’t they struggle online, in the social media realm?

The concept of social media and being an active online user is about adding value to a topic, a brand, a company, or a discussion. It’s all about being a valuable participant. And to be seen as a valuable participant you must provide valuable content presented in a way that can not only benefit the community manager, but more importantly that the other active online users can benefit from. In a polite and respectful way...

Currensee’s Facebook page is certainly no exception. While feedback from the community is always welcomed, positive or negative, how that feedback is presented is important. Are you offering a genuine critique with the hopes of improving the site and its features, or are you couching a hidden agenda and a bad attitude in a suggestion wrapped around an insult? Currensee’s engineers and CIO are continuously working on improvements to the site and its features. It’s a small team with a huge workload. Providing constructive criticism is helpful in shaping the direction and priorities of the team—after all, Currensee.com is all about the end user!

Earlier this week, one of Currensee’s Facebook community managers posted an innocuous update, wishing Warren Buffett a happy birthday and wrapping it into a theoretical question about how the Oracle of Omaha might trade the EURUSD.

The update clearly stated this one was “just for fun.” Facebook is all about community after all; if the page solely posted dry forex news, it would be…dry. Dull. The page is meant to engage the community, to share information and resources, and to reflect the lifestyle of forex traders worldwide. Updates are a mix of news, events, helpful blog posts and articles, and Currensee-specific information. So what happened? One community member posted a comment calling it a “useless message” and a “waste of time,” and rather we should be focusing on the 10,000 items he’s previously identified as lacking.

Every public social entity has its detractors and complainers, no matter what industry.  But for those lobbing balls of flaming criticism, I ask you to consider the following:

  • Is your criticism constructive? Are you offering genuine suggestions that would improve the service/product/community/experience of your recipient?
  • What do you hope to accomplish by posting? Be explicit. If you’re a regular complainer, what’s your agenda (beyond showing the community your angry face)? Have a goal set before you start banging the keyboard with your angry fingers.
  • What do you expect as a response? What is your desired outcome?

Offering specific, actionable critiques rather than just blithely bitching demonstrates a real interest in resolution and/or improvement. Otherwise, you’re just a crank—and soon enough, you will be ignored.

What about you? Where do you see etiquette lacking online? We love your feedback.

About the author: David Ginsburg - Founder, The Hector Fund, Managing Director, www.hectorssolutions.com // Hector’s chief strategist and tactician, David is a Social Media geek who doesn’t understand why everyone isn’t spending 16 hours per day participating in the Social Web. David’s background in radio promotion and programming provided a strong foundation in how to build, engage and sustain an audience–exactly what marketers everywhere are trying to do with Social Media.

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Be sure to read the full risk disclosure before trading Forex. Please note that Forex trading involves significant risk of loss. It is not suitable for all investors and you should make sure you understand the risks involved before trading. Performance, strategies and charts shown are not necessarily predictive of any particular result. And, as always, past performance is no indication of future results.

1 Comment

One of our interns sent around this article earlier today stating, "there is a shortage of tweets coming from the Boston area." And quite frankly I was shocked. People talk about Boston for its innovation, education, and history. Bostonians have unparalleled pride over their city and sports teams. And the most ironic thing is that I always thought of Boston as a very social place. We have meetups and tweetups, big ad agencies and small, tech startups and juice startups (you read correctly - juice), and even social networks just for the Forex trader (wonder who that is ... ?). Our possessiveness over our city even leads to social media battles for mayorships across town. Yeah, we're social media nerds. And what?

As the home of so many wonderful, innovative companies, whether they be startups or branding firms, it's very strange to see that Boston is lacking in the trending topics department. In our building alone we have AMP, Conover Tuttle Pace, and City Sports. All very social teams.

As a social network ourselves we jump at the opportunity to tweet, fan, or comment on anything. We understand the value that comes from an online community and the sheer force that a person can have through the internet. The Internet can give the littlest person, the biggest voice. It lets you connect with a brand, with a cause, with a city.

Just to attach a number to this: Boston, MA has a total of 118,688 small businesses (small businesses are defined as having 1-49 employees). The average for all large metro areas is 78,289 (Source: CNN-Money, 2009).

So I present this challenge to the small businesses and startups, agencies and cupcake shops, students and professors, grandparents and mommy bloggers, out there in the greater Boston area who consider themselves social. Can we become a trending topic? Can we show our love for our city not only in the Red Sox hats we wear and how many times we can say "wicked" in a sentence? Let's make #boschallenge a trending topic. Declare your pride today and tweet our city.

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Be sure to read the full risk disclosure before trading Forex. Please note that Forex trading involves significant risk of loss. It is not suitable for all investors and you should make sure you understand the risks involved before trading. Performance, strategies and charts shown are not necessarily predictive of any particular result. And, as always, past performance is no indication of future results.

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Be sure to read the full risk disclosure before trading Forex. Please note that Forex trading involves significant risk of loss. It is not suitable for all investors and you should make sure you understand the risks involved before trading. Performance, strategies and charts shown are not necessarily predictive of any particular result. And, as always, past performance is no indication of future results. Investor returns may vary from Trade Leader returns based on slippage, fees, broker spreads, volatility or other market conditions.

First week of August: check. And what a week it was, traders! In case you couldn’t tear yourself away from your charts, here is some reading that had us on the edge of our seats and grumbling at our computer screens:

Have a piece of news or blog you want to share, or write one of your very own? Share it! We’re all about collaboration – it’s kind of our thing – and sharing the Forex good vibes. So drop us a line - you know where to find us.

Now step away from that chart and those oscillators. Go paint something in natures (waves, perhaps) or look for shapes in the clouds – there’s disconnecting for you.

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Be sure to read the full risk disclosure before trading Forex. Please note that Forex trading involves significant risk of loss. It is not suitable for all investors and you should make sure you understand the risks involved before trading. Performance, strategies and charts shown are not necessarily predictive of any particular result. And, as always, past performance is no indication of future results.

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Be sure to read the full risk disclosure before trading Forex. Please note that Forex trading involves significant risk of loss. It is not suitable for all investors and you should make sure you understand the risks involved before trading. Performance, strategies and charts shown are not necessarily predictive of any particular result. And, as always, past performance is no indication of future results. Investor returns may vary from Trade Leader returns based on slippage, fees, broker spreads, volatility or other market conditions.

2 Comments

If you haven't heard about the Old Spice video campaigns you must be either living under a rock or rendered speechless by Isaiah Mustafa's six-pack, towel wearing bod. Some say he's a god. I say the campaign is brilliant (and happen to concur with the god-like references). Weiden + Kennedy, P&G's ad agency, pulled together one of the most integrated and truly buzz worthy social media campaigns of 2010. Their timeliness, randomness, and honest-to-goodness humor has put Old Spice on the map in terms of social media. Instead of us gushing about it, feel free to read the great articles by Mashable and Fast Company. But of course our $0.02 anyway.

As I thought about what worked so well in this campaign, I kept thinking about the 4Ps of marketing and how, in this new social media world, we need a new P. Sure, every successful marketing mix has something to do with product, price, placement and promotion. But what they don't teach you is what we learned this week about a healthy dash of social media and a heaping helping of a hot guy in a towel.

As marketers, we spend most of our time cooking up clever ways to share our brand with the people we think are most interested - a.k.a. our target audience. Whether it's chocolates, cars, ShamWows or Forex - there's a buyer for what we're selling. They just don't know it yet.

Brands have to work harder than ever to earn our attention. We've all heard the urban legend of the viral video that refused to produce the golden YouTube views and its silent death at the hands of its maker. Tragic. We've all seen the Facebook pages that vie for us to like them only to disappoint us and the Twitter streams that offer nothing of value in 140 characters or less. Sigh.

The great thing about the Old Spice campaign is that it took something that's been around for decades (my grandpa wore it for years) and made it new by starting with fans and followers. It is what every good campaign should do - start with the people and let them build it. It's something they don't teach you in school but something I admire in practice. IMHO, People should be the 5th P. Think about it. Social media is all about People. It's about engaging People in conversations, creating new ideas, forming and sharing opinions and connecting. These are People who may or may not like your brand. But, they know other People. And when they see and hear cool stuff in action, they tell them.

Hats off to W+K for focusing on the People and to Old Spice taking a risk and putting a hot guy in a towel (seriously, thank you.) As a social network, we here at Currensee are empowered by great examples like this one and, because we are a little goofy and love social media, we decided to ask (and by ask I mean, make) one of our interns, appropriately named Orli, respond to one of the commercials. Watch the original commercial here. Our response will be posted momentarily. Happy trading, social media lovers.

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Be sure to read the full risk disclosure before trading Forex. Please note that Forex trading involves significant risk of loss. It is not suitable for all investors and you should make sure you understand the risks involved before trading. Performance, strategies and charts shown are not necessarily predictive of any particular result. And, as always, past performance is no indication of future results.

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Be sure to read the full risk disclosure before trading Forex. Please note that Forex trading involves significant risk of loss. It is not suitable for all investors and you should make sure you understand the risks involved before trading. Performance, strategies and charts shown are not necessarily predictive of any particular result. And, as always, past performance is no indication of future results. Investor returns may vary from Trade Leader returns based on slippage, fees, broker spreads, volatility or other market conditions.