Financial journalism - dontcha love it

[meanreversion]

From the FT this evening -

"The figures (retail sales) rattled US investors on Wednesday. Less than an hour after the opening bell on Wall Street, the S&P 500 was down 0.21 per cent at 1,091.07, the Dow Jones Industrial Average lost 0.2 per cent to 10,338.12 and the Nasdaq Composite rose 0.2 per cent to 2,245.36."

I mean, come on. Investors were so "rattled" that two of the main indices were down by a tiny amount, and the third one was slightly higher? Who writes this rubbish.. I know that's their job but this is the FT, not the Sun!

 

[bedsit]

Financial journalists are entertaining most of the time – never mind providing late or inaccurate information.

 

[Marky1982]

Listen to any kind of financial journalism at your peril.

 

[meanreversion]

Doesn't it form a basis for fundamental trading?

 

[barryb]

Listen to any kind of financial journalism at your peril.

Agreed. The only reason i read any financial journalism, with a trading approach in mind, is to fade it.

 

[DionysusToast]

cause and effect, baby.

Journalists aren't comfortable if they don't ascribe a cause to every god damn fart the markets blow out.

 

[0007]

cause and effect, baby.

Journalists aren't comfortable if they don't ascribe a cause to every god damn fart the markets blow out.

Financial journalists are like all the rest - they have a space to fill. Have you ever listened to them waffling on BBC R4 Today programme when it's a "no news day"? I long for the day when they say "Sorry mate, no news here - why don't you do something useful?"

 

[Risk it fora Biscuit]

It's even worse on rolling news. Moneygeddon, anybody?

 

[William Waller]

This thread can surely go no further without someone pointing out that Robert Peston is not merely the most annoying and pointless, but also the worst, human being to have ever lived.

In case you suspect me of using hyperbole for effect, let me make this as clear as I possibly can. We all know that there are different levels of Hell. When his time comes, he will ride the fiery elevator down, passing Hitler, Pol Pot, Mao and Stalin before he arrives at the place where he will spend all eternity.

The worst ever.

William