SOURCE: Quant the News

September 10, 2008 16:25 ET

Quant the News Unveils StockMood.com at TechCrunch50

SAN FRANCISCO, CA--(Marketwire - September 10, 2008) - StockMood.com was introduced to the world at the exclusive TechCrunch50 conference on Monday, September 8, 2008. The product is the brainchild of LA firm Quant the News, LLC, and will be released to the broader public in early 2009.

In a radical break from the past, StockMood closes the gap between news and numbers, giving quantitative conclusions about the relationship between current events and stock prices. StockMood alters the financial landscape in a fundamental way by putting advanced quantitative information about the impact of news on markets in the hands of everyday investors.

By quantifying news impact on stocks, StockMood calculates the "mood" of a stock, a novel financial indicator quantifying the relationship between news sentiment and price.

"What we've found is that at a certain point, a stock's price becomes satiated with news-driven optimism or pessimism and then the price reverses," says Quant the News CEO Brett Markinson. "This makes complete sense from a trading point of view and it's exciting to see it come out of the AI in a more precise and quantitative way."

Among StockMood's unique features is its crowdsourcing interface. For example, if StockMood classifies an article as positive, but the user considers it negative, the user can enter a correction. If StockMood judges the user reliable, it will incorporate the user's correction to help guide its future judgments.

The core technology underlying StockMood was developed by AI firm Novamente, LLC, led by Dr. Ben Goertzel, who is also Chief Science Officer of Quant the News, LLC. Founded in 2001, Novamente has applied its AI technology via custom development projects for customers in a variety of domains, including national security, natural language processing, data mining, bioinformatics, gaming and virtual worlds, and financial analysis.

Goertzel comments, "Every trader makes their own judgments for their own reasons, but en masse, the behaviors of the market can sometimes be statistically predictable; and StockMood makes the insights that our AI has in this regard available to the public."

StockMood's creators have amassed statistical evidence for the validity of their AI. However, they caution that StockMood is not a trading system, but rather a guidance system. Similar to commonly used quantitative financial indicators, the information given by StockMood may be used by different traders in many different ways.

Goertzel adds, "There are a few other products like this out there, aimed at institutional investors and hedge funds, but as well as being more widely available, StockMood is actually more sophisticated in terms of the underlying artificial intelligence."

Quant the News, LLC is a company incubated by Lagovent Ventures Group, a Los Angeles-based investment firm where Brett Markinson is CEO and a founding partner. To learn more about StockMood, Quant the News, or Lagovent Ventures Group, go to StockMood.com or Lagovent.com, or call Brett Markinson at 310-203-0011 x417.

ABOUT TECHCRUNCH

Founded in 2007 by leading technology blog TechCrunch and entrepreneur Jason Calacanis, the TechCrunch50 conference provides a platform for early-stage, and frequently unfunded, companies to launch for the first time to the technology industry's most influential venture capitalists, corporations, angel investors, fellow entrepreneurs and the international media. Companies are selected to participate exclusively on merit. TechCrunch50 is supported by corporate sponsors Google, Microsoft, MySpace, Salesforce, MSN Money, Symantec, Thomson Reuters and Yahoo!, as well as venture capital firms including Sequoia Capital, Mayfield Fund, Clearstone Venture Partners, Charles River Ventures, Founders Fund, Perkins Coie and Fenwick & West.

Under the Private Securities Litigation Reform Act of 1995, this press release may contain forward-looking statements that involve risks and uncertainties. It may contain projections or other forward-looking statements regarding future events or the future financial performance of Lagovent or one of its operating companies. These statements are only predictions and actual events or results may differ materially. Any forward-looking information is based on management's current expectations and involves a number of risks and uncertainties. The press release and statements are current as of the date of the individual announcements and the Company undertakes no obligation to publicly release any revisions to any forward-looking statement to reflect events or circumstances after the date thereof or to reflect the occurrence of unanticipated events.

Contact Information

  • Contact:
    Brett Markinson
    310-203-0011 x417

    Lagovent.com

    StockMood.com