conclusion
I Read 21 Books About The Financial Crisis And They Explained Nothing
Source: http://www.businessinsider.com/andrew-lo-21-books-financial-crisis-2012-2

Ever thought you would have to read 21 books to get to the bottom of what caused the financial crisis?
Andrew Lo, an economist at MIT, has some bad news: it’s going to take at least 22.
Lo, a leading expert on hedge funds and financial engineering, has written a paper (h/t NPR) for the Journal of Economic Literature describing his experience reading 21 books on the crisis — nine by journalists, 11 by academics and one by a former Treasury Secretary.
His conclusion: In a field that prides itself on its scientific rigor (however dismal), the books reveal that alarmingly few facts about the crisis have been agreed upon. Was there too little or too much regulation? How much of a factor were low interest rates? No one’s been able to say conclusively.
“After each book, I felt like I knew less,” Lo told NPR’s Planet Money.
Economics, he says, has fallen well short of that standard when it comes to understanding the crisis:
“Many of us like to think of financial economics as a science, but complex events like the financial crisis suggest that this conceit may be more wishful thinking than reality.”
Read Andrew Lo’s Reading About the Financial Crisis: A 21-Book Review >
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See Also:
- Goldman In Talks To Hire Former Geithner Aide To Lead Communication Effort
- Lloyd Blankfein Just Fired His Fall Guy, But Goldman’s Problems Aren’t Going Away
- Here’s The Will Ferrell Super Bowl Ad For Old Milwaukee That You Missed
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Stop paying Kim Kardashian $10,000 per tweet – She’s NOT Influential if no one re-tweets
Source: AdAge.com
| Yahoo Scientist Questions ROI of Kardashian’s Sponsored TweetsDuncan Watts Explains His Model for Predicting Value of Influencers on Twitter |
Ad Age Digital Conference
NEW YORK (AdAge.com) — Stop paying Kim Kardashian $10,000 per tweet. That’s the recommendation based on the work of Yahoo’s principal research scientist Duncan Watts, who presented his findings at Advertising Age’s DigitalConference.
“If you recruit enough people who, on average, influence just one other person, you could get a much better return on investment if you aggregated them and altogether paid them a tenth of what Kardashian gets.”
But in looking at influencers, Mr. Watts found that it’s incredibly hard to predict who will be a major factor on Twitter, a conclusion that runs counter to the prevailing wisdom of social epidemics popularized by the book “The Tipping Point.” While he acknowledges there are certain personalities such as Kim Kardashian who can potentially trigger a larger cascade of re-tweets given her large amount of “followers” (“Tipping Point” enthusiasts call her a connector), close studies of social platforms reveal that influence is spread more efficiently and more reliably when done through many-to-many connections, rather than through a few highly connected individuals.
“Most of them will send tweets, and no one else re-tweets,” Mr. Watts said. “A lot of times, not that many people are listening on Twitter.”
More supporting details here: http://www.marketingcharts.com/direct/celeb-twitter-followers-have-low-authority-13297
Celeb Twitter Followers Have Low Authority

While celebrities have high numbers of Twitter followers, those followers usually have minimal reach and influence, according to social media consulting firm Sysomos.
Celebrity Followers Offer More Quantity than Quality
Celebrities seem to have large amounts of followers with low Twitter authority levels (see “About the Data” for more information on how authority levels are determined). Of five celebrities examined, the average follower of President Barack Obama had the highest authority rating on a scale of 0 to 10, 2.4. The most common authority score among Obama’s roughly 4.2 million followers is 1, held by 20%.
Interestingly, the celebrity whose fans had the second-highest authority score of 2.1, pop singer Lady Gaga, had the second-lowest following of about 4.5 million. The most common authority score of followers of all celebrities except Obama was 0.
Actor Ashton Kutcher had the highest number of followers (about 5.1 million), and the third-highest average authority score (1.8). Pop singer Britney Spears had the lowest average follower authority score (1.3) and second-highest number of followers (about 4.8 million).
Celebrities seem to have large amounts of followers with low Twitter authority levels. This could be because they attract everyone from all walks of life. Some people may only be on Twitter to see what their favorite stars have to tweet about. In addition, most celebrity followers tracked by Sysomos had few followers themselves, pushing down their authority scores.
Social Media Heavyweight Followers Have Most Authority
Social media heavyweights, private citizens who have made a name for themselves on Twitter, had the fewest followers but the highest average authority scores for their followers. Following the pattern seen with celebrity tweeters, the social media heavyweight with the fewest followers, Jason Falls (27,195), had the highest average follower authority score (4.8).
Conversely, the two social media heavyweights with the most followers, Chris Brogan (139,693) and Jeremiah Owyang (64,775), tied for the lowest average follower authority score of 4. The most common authority score for all social media heavyweight followers was either 4 or 5.
Online Media Beats Traditional Media
On the whole, the five news/media sources tracked by Sysomos show more variety among their scores than the celebrities or social media heavyweights. However, online media sources attracted fewer followers with higher average authority scores than traditional media sources.
Online media source Read Write Web, with about 1 million followers, had an average follower authority score of 3, which was also its most common follower authority score (19%). This tied online media source Mashable in average authority score, most common authority score and percentage of followers with the most common authority score. Mashable has more followers with about 2 million.
Online media source Tech Crunch ties traditional media source Time.com with an average follower authority of 2.4 and most common follower authority score of 2, at virtually the same percentage. However, Time.com has significantly more total followers (2.1 million) than Tech Crunch (1.4 million).
Traditional media source New York Times has the highest total number of followers (about 2.5 million) and lowest average authority score (2.2). It also has by far the lowest most common authority score of 0 (22%). Not surprisingly, sources that specialize in social media attract users that are more active on Twitter.
Facebook Fans More Valuable Customers
While there is variation in the value of different types of Twitter followers, on the whole Facebook fans of a brand provide more value as customers than non-fans, according to a new study from digital consulting firm Syncapse Corp.
The average value a Facebook fan provides a brand is $136.38, but it can swing to $270.77 in the best case or go down to $0 in the worst. This value is based on Syncapse analysis of five factors per fan: product spending, brand loyalty, propensity to recommend, brand affinity and earned media value.
On average, a Facebook fan participates with a brand 10 times a year and will make one recommendation. Value can differ significantly by individual brand. For example, in the case of Coca- Cola, the best case for fan value reaches $316.78 but is $137.84 for an average fan. In the worse case scenario, a fan is worth $0.
About the Data: Using its social media monitoring and analytics platform, Sysomos looked at the authority rankings of five celebrities, five social media heavyweights and five media organizations. Rankings were based on the kind of Twitter users following these celebrities, social media heavyweights and media organizations. Each Twitter user is assigned an authority ranking between 0 to 10 – with 10 signifying someone with very high reach and influence. This authority ranking is based on the number of followers, following, updates, retweets and several similar measures used by Sysomos.
Evidence for Increasing Online Use that is also Accelerating
If you sum up the total unique user sessions in Jan 2008, Jan 2009, and Jan 2010, you get
Jan 2008 – 285M
Jan 2009 – 337M
Jan 2010 – 413M
That is a year-over-year increase of 18% and 23% respectively. Assuming the population of the world does not change that much year to year, the change in total unique sessions leads to the conclusion that online usage continues to increase noticeably.
The Compete.com chart below shows nearly identical number if unique users monthly — Google at 148M uniques and Yahoo at 132M uniques. And Facebook alone achieved another 134M uniques. So while the unique visitors across these 3 sites are not mutually exclusive, there are 414M unique user sessions in the month of January 2010

Well, this is strange. January 2010 numbers from Nielsen reveal Google has 66.3% of the search market, while Yahoo has 14.5% and Microsoft has 10.9% across its various properties. Google is 4x more than Yahoo and 6x more than Microsoft.

Sign of the times – “garage sale” sites all seeing increases in unique visitors
re: Craigslist More Popular Than MySpace : Sign of Economy Says Hitwise
http://www.searchenginejournal.com/craigslist-search-hitwise/9391/

the comparison to MySpace is irrelevant for the conclusion; furthermore, the report uses search volume for the comparison and people search for “craigslist” and “myspace” for entirely different reasons. And MySpace continues to have 8X the unique visitors as Craigslist — so it is not that Craigslist is more “popular” than MySpace.
A sign of the times is that “garage sale” type sites are all seeing increases in traffic — e.g. Craigslist, OLX, Backpage, etc.



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