Most financial journalists are incompetent and clueless
Okay maybe title is a bit of a generalization. But seriously, as someone who worked as an intern/part-time writer at a major U.S. business/financial news outlet before deciding to recruit for IB. Met several reporters who swore by technical analysis and others who had no real technical knowledge of finance that often reported incorrect or misleading info. The editorial oversight was less stringent than that of the student newspaper at my uni. Obviously, not every financial journalist is an idiot and there is good reporting done on a daily basis. However, I think you'd be surprised at the lack of real financial knowledge of the journalists behind the articles you read on a daily basis.
Ok thx
Yeah, kinda makes sense. Could see there being little financial expertise to “check” journalists’ work products at most outlets (probably different at WSJ or FT or the economist).
Ultimately news articles just need to tell me what’s going on (descriptive), and it seems like they pepper in like a quick two sentence summary of how equity research is viewing the development these days. So that pretty much checks the box for me.
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