Bevor Siri Einzug hielt in jedes iPhone, blitzten die Erfinder der virtuellen persönlichen Assistentin bei einem Investor nach dem anderen ab. Keiner glaubte daran, dass ein Computer Sprache nicht nur erkennen, sondern auch verstehen kann. Doch dann klingelte das Telefon - und Steve Jobs war dran.

A popular theory of markets is that they are efficient: all available information is deemed to provide an accurate valuation of an asset at any time. In this paper, we consider how the content of market-related news articles contributes to such information. Specifically, we mine news articles...

The efficient market hypothesis states that the market incorporates all available information to provide an accurate valuation of the asset at any given time. However, most models for forecasting the return or volatility of assets completely disregard the arrival of asset specific news (i.e.,...