3 ms·

And they can gauge where client's interests lie at. Something like google could (what I would do if I were google) gauge interest in various stocks and commodit

And they can gauge where client's interests lie at. Something like google could (what I would do if I were google) gauge interest in various stocks and commodities people search for and make some kind of model based on that. Ye olde adage, if you're not paying for the product, you are the product.

datr 10y ago
I think that would be insider trading on Google's part.
- Keyframe 10y ago
  How, why? Especially if they're not trading their own stock.
  - datr 10y ago
    I was mainly thinking of this comment [0] and the story it was in response to. [0] https://news.ycombinator.com/item?id=8967902 https://news.ycombinator.com/item?id=8967902
    - Keyframe 10y ago
      Kind of funny where Google decides what's legal or not.
  - tsukikage 10y ago
    Using non public information obtained from a client in dealings with another client, or at all on the public side of the firm, would breach Chinese walls. Never mind internal controls, most jurisdictions have relevant legislation to prevent exactly this behaviour.
    - Keyframe 10y ago
      There is no non-public info in this case. It's same as if you were in a public hall with a lot of people, who talk only about stocks, and writing down how many, how often and when particular stocks are mentioned and in which context (buy, sell, various). Morally ambiguous thing is that hall belongs to Google and they're the only one up in the balcony, which is the only place you can hear all the people from.
JackFr 10y ago
Any bank will provide it's buy side customers research and in many cases software or at least web applications to evaluate and price securities which are over the counter and/or illiquid. It's not just courtesy; it's necessary if you want to buy and sell the stuff. However, a customer who blindly puts their trading book onto some Goldman application isn't smart enough to do business with Goldman. As someone who worked at a large bank providing month-end marks for customers (as a 'courtesy'), we knew that we were basically just seeing the stuff we had sold them, and at most half of any other positions they asked for were actually bonds they owned.
- Keyframe 10y ago
  You could also use anonimized data from people doing search/research to see where the action will be or something like it.

datr 10y ago

I think that would be insider trading on Google's part.

Keyframe 10y ago
How, why? Especially if they're not trading their own stock.
- datr 10y ago
  I was mainly thinking of this comment [0] and the story it was in response to. [0] https://news.ycombinator.com/item?id=8967902 https://news.ycombinator.com/item?id=8967902
  - Keyframe 10y ago
    Kind of funny where Google decides what's legal or not.
- tsukikage 10y ago
  Using non public information obtained from a client in dealings with another client, or at all on the public side of the firm, would breach Chinese walls. Never mind internal controls, most jurisdictions have relevant legislation to prevent exactly this behaviour.
  - Keyframe 10y ago
    There is no non-public info in this case. It's same as if you were in a public hall with a lot of people, who talk only about stocks, and writing down how many, how often and when particular stocks are mentioned and in which context (buy, sell, various). Morally ambiguous thing is that hall belongs to Google and they're the only one up in the balcony, which is the only place you can hear all the people from.

JackFr 10y ago

Any bank will provide it's buy side customers research and in many cases software or at least web applications to evaluate and price securities which are over the counter and/or illiquid. It's not just courtesy; it's necessary if you want to buy and sell the stuff. However, a customer who blindly puts their trading book onto some Goldman application isn't smart enough to do business with Goldman. As someone who worked at a large bank providing month-end marks for customers (as a 'courtesy'), we knew that we were basically just seeing the stuff we had sold them, and at most half of any other positions they asked for were actually bonds they owned.

Keyframe 10y ago
You could also use anonimized data from people doing search/research to see where the action will be or something like it.