I believe there is a legitimate use for financial media (stock market TV). An example I have used on my blog many times is from the financial crisis. I’ve never owned GM and probably unlikely to ever own it but during the crisis it got plenty of coverage on CNBC. There was no fundamental reason I needed to know about GM but clients did ask and so I was able to be somewhat informed without having to take time from something else to read about GM.
The other use is when there is breaking news. If I have a bunch of tabs open on my browser to read in the next hour I would not necessarily know that something big just happened.
In terms of gleaning useful insight, those opportunities probably are far and few between but when you realize that going in then it can be useful.
Friday, October 11, 2013
Barry Ritholtz has an open thread post up asking about the utility of financial media as research for a column. Below is attempt to contribute to Barry's research;
Posted by Roger Nusbaum at 8:37 AM