by Addison Wiggin, Daily Reckoning.com.au:
Oy… as if being beaten over the head with an examination of every word from the current Fed chairman isn’t painful enough, some researchers are doing it retroactively.
“Researchers at Edinburgh University,” writes 5 Min. Forecast’s Dave Gonigam citing The Globe and Mail this morning, “used text analysis software, Diction 6.0, to analyze some 400 speeches and comments between mid-1999 and mid-2012, looking at ‘certainty, optimism and realism’ in the comments of the world’s most powerful central bankers.”
“Aside from proving conclusively,” Dave continues, “the researchers have way too much time on their hands, the study found a 1% increase in the amount of certainty in Greenspan’s voice could move the gold price 0.1%.”
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