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The terms people search for on Google have been used to forecast how many Americans have the flu, travel plans and the price for which cars sell. Now a scientific study shows that Google search can be used to predict the stock market.
Using Google Trends, a service that shows the popularity of search terms, researchers from Warwick Business School in England and Boston University’s department of physics found that the type of terms people search Google for on a given week can predict whether the Dow Jones industrial average will rise or fall the following week.
The study, titled “Quantifying Trading Behavior in Financial Markets Using Google Trends,” was published Thursday in Nature’s Scientific Reports.
The researchers tracked 98 search terms from Google Trends between 2004 and 2011. These included investment-related words, like debt, stocks, portfolio, unemployment and markets, and non-investment terms, including lifestyle, arts, happy, war, conflict and politics.
One of the leading search terms used to predict the markets was the word “debt” — an increase in such searches heralded a sell-off of stocks. A decrease in searches found the market rose slightly the following week.
But the results do not take into account volatile markets where a big sell-off can force investors to abandon ship sooner than they anticipated.
And sometimes Google Trends can give scientists inaccurate information when the proper context is not applied. For example, earlier this year Google Flu Trends said it believed that nearly 11 percent of the United States population had influenza. Yet the Centers for Disease Control and Prevention put the coughing and sniffling peak at 6 percent of the population. It turns out Google didn’t anticipate how outside influences, like media coverage of the flu and the rise in discussions on social media, would affect its data and statistics.
In 2010, researchers at Indiana University-Bloomington performed a similar study and found that people’s emotions on Twitter could help predict the stock market.
It’s going to take a stronger push from the public to demand that Congress not duck gun control.
It is in America’s interest that Congress ratify proposed changes to the International Monetary Fund.
Jim Wilson/The New York Times Mark Zuckerberg discussing Facebook’s privacy settings in 2010.Facebook users became much more protective about who sees sensitive information about them, even as they were urged to share more about themselves on the social network, according to an unusual seven-year study by researchers at Carnegie Mellon University.
The study followed the privacy settings of roughly 5,000 Facebook users who were part of the university network on Facebook between 2005 and 2011. It is among the first longitudinal efforts aimed at gauging how Facebook users try to protect their information.
The study showed how over those years, Facebook made changes that elicited increasing amounts of data. For example, the social network tripled the data fields its users could fill out. It introduced Timeline in 2011, encouraging users to fill in much more personal history, including whether they were expecting a baby or had acquired a new car. Its diverse applications offered users the opportunity to share what news articles and books they read. And it let them “tag” one another, effectively allowing one user to post information about a Facebook “friend.”
But even as Facebook encouraged more sharing, users became less likely to reveal to strangers certain pieces of sensitive, fine-grained personal information like dates of birth and what high school they attended, the survey found. There was a similar decline in users revealing their phone numbers and instant-messaging addresses to others in the university network who were not their Facebook “friends.”
Then, between late 2009 and late 2010, the data found a swift, marked turnaround, as if users had suddenly decided to become more public about what they shared. The more likely explanation, the researchers said, was that the company tweaked its privacy interface in December 2009. The changes proved confusing to many users, who made public some information they may have intended to keep private.
Eventually, Facebook’s changes to its privacy settings attracted the attention of government regulators. In 2011, the company agreed to let the Federal Trade Commission carry out annual audits of its privacy policies for 20 years.
The research paper, written by Alessandro Acquisti, Ralph Gross and Fred Stutzman, is unusual in that it followed the privacy practices of a set of users over an extended period. It did not receive any financing from Facebook or its business rivals.
It is consistent with other studies, including by the Pew Internet Center, which has found that Facebook users increasingly calibrated whom they were sharing with on the social network. Between 2009 and 2011, a growing number of those surveyed by Pew said they had deleted comments and removed someone from among their Facebook “friends.” Pew documented anxiety among parents of teenagers in particular: About a third of parents surveyed said they had helped their children adjust their privacy settings.
And earlier this year, Pew reported that 61 percent of Facebook users surveyed said they had taken a break from the social network. Among the main reasons, they said, was a lack of time to prune their privacy settings.
Data is at the core of Facebook’s business. The company uses aggregated data to show targeted advertisements. It has in recent years offered users a way to control who sees a particular post or picture, as they are about to share it.
The company does not share information about its users’ privacy practices. Responding to a request for comment about the research paper, a Facebook spokesman, Andrew Noyes, said in an e-mailed statement: “Independent research has verified that the vast majority of the people on Facebook are engaging with and using our straightforward and powerful privacy tools — allowing them to control what they’re sharing, and with whom they’re sharing.”
The Carnegie Mellon academics noted that their study focused on a subset of Facebook users, mostly undergraduates who had signed up for Facebook as early as 2005 when it was restricted to college students.
They concluded that “over time, the amount and scope of personal information that Facebook users have revealed to friends’ profiles seems to have markedly increased — and thus, so have disclosures to Facebook itself, third-party apps, and (indirectly) advertisers.”
Hence, the paper is entitled “Silent Listeners: The Evolution of Privacy and Disclosures on Facebook.”
Jewel Samad/Agence France-Presse — Getty Images Spend enough time with cybersecurity experts and chances are you will hear some variation of this line: There are two types of companies in the United States, those that have been hacked and those that don’t yet know they’ve been hacked.
Government intelligence officials and cybersecurity specialists say hackers — predominantly from China — are siphoning gigabytes, if not terabytes, of data from companies in the United States every day. We count on much of this information to deliver the innovative products and services that will lead to new jobs and economic growth. The security software company McAfee estimates that in 2008 alone, companies around the world lost more than $1 trillion because of this sort of intellectual property theft.
“I’ve seen behind the curtain,” Shawn Henry, the Federal Bureau of Investigation.’s former top cyber agent, who recently joined the cybersecurity start-up CrowdStrike, told me in an interview in April. “I can’t go into the particulars because it’s classified, but the vast majority of companies have been breached.”
The problem is that such breaches rarely make headlines because companies fear what disclosure will mean for their stock price. Google was the first to try to change that mentality when, in 2010, it disclosed that it and 34 other companies, many based in Silicon Valley, had been attacked by Chinese hackers. Of those 34, only Intel and Adobe Systems came forward, and they provided few details.
Still, news of some breaches leak out. That was the case, most recently, with Coca-Cola. This month, Bloomberg News reported that Coca-Cola was breached by Chinese hackers in 2009 during a failed $2.4 billion takeover attempt of the China Huiyuan Juice Group. That attempted deal would have been the largest foreign acquisition of a Chinese company.
Now, a 2010 case study published by the Mandiant Corporation, a cybersecurity firm, may offer further details. The study, which does not mention Coca-Cola specifically, details a 2009 breach of a “Fortune 500 Manufacturer” that aligns almost perfectly with Bloomberg’s account of Coca-Cola’s breach.
According to the study:
In 2009, a U.S. based Fortune 500 manufacturing company initiated discussions to acquire a Chinese corporation. During the negotiations, APT [advanced persistent threat] attackers compromised computers belonging to the executives of the U.S.-based company, most likely in an effort to learn more details of the negotiations. Sensitive data left the company on a weekly basis during negotiations, potentially providing the Chinese company with visibility to pricing and negotiation strategies.
As Bloomberg reported, Mandiant’s study said the company gained knowledge of the breach only when law enforcement officials notified it of the intrusion. The study also details how hackers penetrated the company via a so-called spearphishing attack, in which the attackers sent e-mails to certain executives from a fake account ostensibly belonging to the chief executive.
According to Bloomberg, an e-mail containing the subject line: “Save power is save money! (from CEO)” was sent to the e-mail account of Bernhard Goepelt, Coca-Cola’s current general counsel. The e-mail contained a malicious link that, once clicked, downloaded malware that gave the attackers full access to Coca-Cola’s network.
Mandiant’s 2010 report said the e-mail “was crafted to look like it originated from a fellow employee and discussed a message from the CEO on conserving resources.”
Tal Be’ery, a senior Web researcher at Imperva, a data security firm, compared details of the Coca-Cola breach with Mandiant’s study and said the two accounts clearly referred to the same company. Executives at Mandiant and media officers at Coca-Cola did not return requests for comment.
If Mandiant’s study is, in fact, based on Coca-Cola, then it offers new insights into the breach. According to the study, once in, hackers used password-stealing software to gain access to other systems on the company’s network. They also used the compromised executive’s account to launch what is known as an SQL server attack, in which hackers exploit a software vulnerability and enter commands that cause databases to produce their contents.
But one of the most interesting aspects of the breach, according to Mandiant, was how well the attackers had concealed their tracks. According to Mandiant, hackers used so-called stub malware. This is an agile agent whose code can be tweaked by hackers to use it for various functions while leaving a small forensic footprint.
The one discrepancy between the Bloomberg and Mandiant accounts was why, ultimately, the company’s acquisition fell apart. According to Bloomberg, Coca-Cola’s takeover attempt of China Huiyuan Juice Group was thwarted because China’s Ministry of Commerce rejected it for antitrust reasons. Mandiant’s report offered a different take:
The intrusion had a significant impact on the victim organization. As a result of the compromise, the U.S. company terminated their acquisition plans. While it was not possible to determine all the data that had been lost, the victim company was not able to compete the acquisition and accomplish their business objectives.
Updated: In an e-mail, Kent J. Landers, a spokesman for Coca-Cola, said that the company does not comment on security matters, but said Coca-Cola did not complete its acquisition of China Huiyuan Juice Group ”as a result of the China Ministry of Commerce declining approval for the proposed transaction.”
In a digital world where many younger readers feel increasingly comfortable downloading novels and textbooks onto their computers or e-readers, a majority of Americans from the ages of 16 through 29 still frequent libraries.
According to a study released Monday by the Pew Research Center, 60 percent of Americans surveyed in this age group said they still visited the library. They use libraries to conduct research, borrow print, audio and electronic books and, in some cases, read magazines and newspapers.
That finding would seem to clash with the popular notion that young readers have turned away from libraries and print books as the source of their reading material, said Kathryn Zickuhr, research analyst with the Pew Research Center’s Internet and American Life Project. “A lot of people think that young people aren’t reading, they aren’t using libraries,” Ms. Zickuhr said. “That they’re just turning to Google for everything.”
The Pew Center has been researching the use of the nation’s libraries for more than two years, with financing from the Bill and Melinda Gates Foundation. The latest study involved a telephone survey, conducted last November and December, of nearly 3,000 people 16 and older talking about their reading habits, and data from two telephone polls conducted in January. While young people clearly do not read newspapers as regularly as their parents and grandparents did, their consumption of magazines is more closely aligned. The study showed that 40 percent of surveyed Americans under 30 regularly read newspapers, compared with 62 percent of older Americans. Seventy-one percent of those under 30 who do read news regularly said they viewed all of their news through hand-held devices.
While 42 percent of Americans under 30 read magazines, 50 percent of older adults read magazines.
But in troubling news for tablet makers, the study also found that the subjects under 30 who read electronically were more likely to read books on a cellphone or a computer.
In fact, the study found that 41 percent of readers under 30 view books using a cellphone and 55 percent read from a computer. Only 23 percent of Americans under 30 used an e-reader and 16 percent used a tablet.
“That’s definitely something we will keep an eye on,” Ms. Zickuhr said.
For some time, executives at Redfin, an online real estate brokerage firm, grumbled to themselves that better-known real estate sites like Zillow and Trulia didn’t have all the property listings that Redfin and other sites had. So Glenn Kelman, the chief executive of Redfin, finally set out to prove it.
A study underwritten by Redfin to be released on Wednesday seeks to compare the comprehensiveness and accuracy of real estate listings on five sites, Zillow, Trulia, Redfin and the sites of two regional real estate brokerage firms, Windermere and Long & Foster. The study, conducted by a real estate consulting firm called the WAV Group, looked at a sample of 6,401 home listings in 33 ZIP codes from 11 metropolitan areas in the United States. It found that Redfin, Long & Foster and Windermere all had 100 percent of the agent-listed homes for sale, while Trulia had 81 percent and Zillow had 79 percent.
The study also found that 36 percent of the agent-listed properties shown as active listings on Zillow and and 37 percent of those on Trulia were no longer for sale on the local multiple listing service, or MLS, the local associations around the country through which agents share their property listings. The study said that 0.1 percent of the listings on Redfin and 1.7 percent of the listings on Windermere’s site were no longer for sale. All of Long & Foster’s listings mirrored their status in the local MLS.
O.B. Jacobi, the president of Windermere, a big real estate brokerage firm in the Pacific Northwest, said consumers should be aware that local real estate Web sites provide the most complete view of properties for sale. “If I’m doing the largest purchase of my life, I want to see everything,” Mr. Jacobi said.
Zillow and Trulia do not dispute that their listings have some gaps and inaccuracies, though they dispute some of the particulars of the Redfin study. There’s a simple reason they don’t have everything their rivals do: neither of them belongs to the local MLSes, which provide the most complete sets of agent-listed properties.
That’s because Zillow and Trulia are not real estate brokerage firms. Rather than making money by selling properties, the companies sell advertising and other services that allow agents to reach home shoppers and buyers through their sites. They have both built up big online audiences by packing their sites with a variety of information services, including real-time estimates of the value of properties.
Because Zillow and Trulia have such big audiences, they have been able to form relationships with many local real estate brokers like Windermere, which provide electronic feeds of all their listings. The problem with that approach, said Redfin’s Mr. Kelman, is that there are a lot of small real estate firms because the barriers are relatively low for entering the real estate businesses.
“Most of those mom-and-pop brokers don’t upload their listings” to sites like Zillow and Trulia, Mr. Kelman said.
Sometimes agents that do provide feeds to the sites don’t take listings down quickly when the properties sell, Mr. Kelman said. Although Redfin is an Internet start-up firm, it employs brokers, so it gets access to MLS listings.
Ken Shuman, a spokesman for Trulia, said the company had a dedicated team that was forming stronger relationships with brokers around the country to improve the completeness and accuracy of its real estate data. Mr. Shuman estimated that Trulia had about 90 percent of the property listings in the United States at any given time.
Cynthia Nowak, a spokeswoman for Zillow, said it was making a similar effort. “We’re always looking to improve accuracy,” she said.
“There is no gold standard for listings data, so comparing Zillow’s MLS-only listings to an MLS isn’t going to give you the whole picture. For example, Zillow has hundreds of thousands of rental, for-sale-by-owner, new construction and foreclosure listings, which often aren’t listed on an MLS,” she said.
“In addition to these listings, home shoppers visit Zillow for deep information on all homes, Zestimates, price cuts and community and historical home data, all of which typically can’t be found on a brokerage site,” she said
This post has been revised to reflect the following correction:
Correction: October 3, 2012
An earlier version of this article misstated the number of listings on Redfin that the site said were active but that a study said were no longer for sale. That number was 0.1 percent, not 0.1 percentage point.