Stock Price Polling Site Launched
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ePredict.com launched as a new financial Web site "that uses unbiased Internet polling" to aggregate the opinions and likely behavior of investors to predict future stock performance.
In beta testing since October 1999, ePredict.com said its proprietary "Systematic Analysis" has been accurate 69 percent of the time producing a return on investment of over 33 percent. By comparison, during the same time period, the S&P 500 index has returned 8.2 percent and the Dow 30 just 2.7 percent. In addition, ePredict.com's technology sector has returned 85 percent compared to a 58 percent return for the NASDAQ during the comparable time period.
"Investors have traditionally used two methods to predict the stock market. Fundamental Analysis, which is how investors should behave, and Technical Analysis or Charting, which is how investors did behave," said Scott Pederson, president and chief executive officer of ePredict.com. "We have added a third method, called Systematic Analysis, which is how investors are likely to behave."
Pederson said that "if political outcomes are accurately predicted through public opinion polling, it is logical to assume similar results can be achieved with the stock market." Pederson quotes Benjamin Graham, the father of value investing as saying "The market is not a weighing machine but a voting machine".