information sources

From: BD
Affiliation:
Address:
Date: 19 Nov 2007
Time: 17:58:03

Comments

Very nice article. I'm probably even more cynical, if thats possible, than you are about the press. I think there is a range of credibility in the media depending on the circumstances. Especially in the financial press much of this is just for entertainment. There's huge demand, and the demand must be satisfied. One thing I think is amusing is how if the market moves, the press absolutely has to identity a reason, so they search around and find something, anything. Sometimes it leads to the ridiculous such as cases where one month it is reported that the US dollar fell because of a stronger than expected purchasing managers index number, and a few months later you'll see a headline in which the US dollar rose because of a stronger than expected purchasing managers index number. I do not believe uncovering the truth is as high on the list for reporters as filling in space with convincing text. And if your source was a hedge fund talking head, what does it matter cause that article is already yesterday's news.

Disclaimer