Hedge fund Acadian ends social media experiment with Bing
US-based quantitative hedge fund Acadian has ended a partnership with Microsoft's Bing Predicts after failing to yield meaningful macro signals to use in its investment process. The firm had been working with Bing to process online and social media data with the hope of finding useful signals to use in algorithms. The asset manager now says it prefers more traditional methods of data collection and processing. 
Quant firm Acadian Asset Management has wound down the partnership it formed in March with Microsoft’s Bing Predicts. The $91 billion US asset manager says it has not found a way to turn social media data into useful signals for a medium-term investment algorithm.

Acadian was hoping to use macroeconomic signals generated by Bing Predicts’ social media and internet search, such as US retail sales and consumer sentiment, in its macro models in particular, while Bing Predicts had intended to use