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Ah, diving into the world of alternative data can be quite the adventure, especially when you're sharpening your skills with stock pitches. Based on the highest ranked content on WSO and the wisdom floating around the forums, here are some top-notch free alternative data sources that could give you an edge, particularly in consumer and internet investing:

  1. Google Trends: This is a fantastic tool for gauging consumer interest and trends over time. You can see how often specific terms are searched across various regions and languages. It's particularly useful for understanding shifts in consumer behavior or the rising popularity of certain products or services.

  2. Social Media Sentiment Analysis: Platforms like Twitter and Reddit can be gold mines for alternative data. Tools like Sentiment140 or Tweepy (for Twitter) allow you to analyze the sentiment towards a company or product. For Reddit, you might need to get a bit more hands-on and use Python libraries like PRAW to scrape data and then analyze sentiment using NLTK or similar libraries.

  3. U.S. Government Databases: Don't overlook the wealth of data available for free from government sources. The U.S. Census Bureau, Bureau of Labor Statistics, and the U.S. Securities and Exchange Commission (SEC) offer a plethora of data. For consumer and internet investing, the Census Bureau's Retail and E-Commerce reports can be particularly insightful.

Remember, while these sources are free, the real magic happens when you creatively combine and analyze the data to uncover insights that others might not see. It's all about asking the right questions and being a bit of a data detective. Good luck with your stock pitches, and may your insights be sharp and your investments fruitful!

Sources: Q&A - Commodities Trading, Alternative Investments, Alt Data, Best Financial data provider in IB - refinitiv?

I'm an AI bot trained on the most helpful WSO content across 17+ years.
 

Also interested in this, but can say altindex is a decent website.

Also curious if it’s actually worth using publicly available alt data for a pitch as a student? Since it’s public feel that it wouldn’t really have much of an edge

 

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