Partha S. Mohanram, PhD, John H. Watson Chair in Value Investing and Professor of Financial Accounting – Rotman School of Management, University of Toronto
The last decade has seen an explosion in the availability of nontraditional information. One particularly interesting subset of this is the rise of crowdsourced information – with investors sharing information among themselves through numerous channels. In this presentation, I will discuss these new sources of information including investing portals such as SeekingAlpha, forecasting platforms such as Estimize and social media including Twitter. I will discuss concept of wisdom of crowds and how it may contribute to information coming from anonymous and low credibility sources actually being credible and useful in aggregate. The discussion will rely on results from recent academic research on each of these new sources of information. We will discuss the pros and cons of these new information sources and how they can be used to complement or supplement existing sources of information as inputs into valuation.
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