I logged into my facebook account earlier today and saw this sponsored ad in my news feed:
For those who don’t know, State Street is a global custodial bank for institutional investors. In other words, a bank for super-rich groups and people. The confidentially agreement prevents me from citing specific clients, but think hedge funds, government organizations, pensions, endowments, mutual funds, non-profit organizations, other banks, and very, very rich individuals, to name a few. State Street clients are mostly groups (and super-rich individuals) with a lot of financial assets; in other words, not exactly the type of entities who would participate in facebook polls.
It’s safe to assume State Street’s clients and State Street itself has access to and already performs much more detailed and accurate market research than a facebook poll. With all the buzz lately [see the below video about facebook and the Central Intelligence Agency] about how much information facebook captures and stores, I thought it was funny that they didn’t filter out companies who obviously would not benefit from a facebook poll.
Sure, facebook polls could be used for recruiting and public relations information, but it’s hard to imagine the State Street’s super-wealthy institutional clients valuing the financial advice of facebook’s core users. Nothing against facebook or its community, but the majority of its users simply do not have millions upon millions of dollars or experience dealing with such large sums of money.
Do you see any merit in facebook polls for the State Street corporation or its institutional client base? Considering the points made in the embedded video about facebook’s connections to the C.I.A., are facebook polls actually extremely valuable to super wealthy institutional investors?
My personal portfolio does contain State Street Corporation holdings. In no way does any of the above text represent financial advice, nor am I responsible for any actions you take as a result of the above text. Further, the above text does not represent an official statement by State Street Corporation nor any of its subsidiaries.