Don't recall this being posted here before. Someone posted this article in another forum I belong too. Thought the conclusion (though obvious) interesting to see a paper analyzing. Since they reference iHub (probably stock specific boards not this one ) and Yahoo thought to post it here.
Using large datasets drawn from Yahoo and iHub messages boards, we show that discussion board activity and post sentiment show negligible correlation with future market returns, and trading simulations based on board sentiment are poor investment strategies.
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) and Yahoo thought to post it here. 
