Financial News Sentiment Analyzer: Affordable Alternative to Bloomberg Terminal
The article describes a financial news sentiment analysis tool that provides 90% of the functionality of Bloomberg Terminal at 0.001% of the cost. It uses a combination of VADER and LLM models to analyze news from various sources and provide sentiment scores.
Why it matters
This tool offers a cost-effective alternative to expensive financial data platforms, making sentiment analysis accessible to a wider range of users.
Key Points
- 1Developed a financial news sentiment analysis tool as an affordable alternative to Bloomberg Terminal
- 2Scrapes news from Yahoo Finance, Google News, SEC EDGAR, and AI Search to gather relevant articles
- 3Uses VADER for quick sentiment analysis and an LLM model for more accurate sentiment scoring
- 4Provides composite sentiment scores that factor in source credibility
Details
The author built a financial news sentiment analysis tool to address the high cost of Bloomberg Terminal ($24,240/year). The tool scrapes news from various sources, including Yahoo Finance, Google News, SEC EDGAR filings, and AI Search, to gather relevant articles. It then uses a combination of VADER (a rule-based sentiment model) and an LLM (large language model) to analyze the sentiment of the articles. VADER provides quick sentiment analysis, while the LLM model is more accurate in cases where VADER misinterprets the sentiment. The tool also provides composite sentiment scores that factor in the credibility of the news source. Additionally, it can be integrated with live market data per ticker, providing a comprehensive solution for financial analysis at a fraction of the cost of Bloomberg Terminal.
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