Do you read the Wall Street Journal? Should I?

I used to read the journal but then i stopped.

Can someone please respond if WSJ is worth reading? What do you read and do you think I should subscribe to it? I'm a undergrad student. Thanks

Comments (67)

Jul 26, 2007

yes and yes and yes

Jul 26, 2007

Another yes yes and yes here. Reading the journal is definitely good practice. Even if it's only a few minutes a day, just to keep up on what's going on, it can only help your chances in a finance interview.

Jul 26, 2007

Reading the WSJ won't make me better at my job. However, there is a chance that I'll stumble on something that is relevant to a deal I'm working on. On the other hand, it helps to keep you educated on current events. While reading it for a day will not make a difference, reading it for a year will definitely show in any candidate. Besides, you're a lot more interesting to talk to and current events is a very valid "business conversation topic." I'd say it is a very worthwhile use of your time if you have the time to spare.

Jul 26, 2007

Thank you all!

Jul 27, 2007

Nuff said

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Jul 27, 2007

Would watching CNBC (Closing Bell, Morning Call, Fast Money, etc..) for 30 minutes a day be a good substitute for reading the WSJ?

Jul 27, 2007
grandpabuzz:

Would watching CNBC (Closing Bell, Morning Call, Fast Money, etc..) for 30 minutes a day be a good substitute for reading the WSJ?

no. cnbc is drivel.

Jul 27, 2007

i swear to god, you people are so damn lazy.

what's wrong, don't fully understand the wall street journal? learn finance, kids!

Read economist if you're that disinterested in a field that you want to pursue.........good luck......

Jul 27, 2007

I read very few newspapers --- mostly just trade journals (e.g. quarterly publications).

If I were to read something, I would probably page through Barrons.

Weekly information is more than enough IMHO.

Jul 28, 2007

good luck in getting the time to read the wsj everyday once you start banking...

Jul 28, 2007

You can read select articles in your downtown. If you don't have downtown, get into work 30 mins early so you can at least read the highlights. I tend to spend another 10 minutes on it in the morning and another 10 in the afternoon/evening. You don't have to read every article in full -- I would only a very few actually do.

  • justanotherbanker
  •  Jul 29, 2007

Subscribe to the BreakingViews email alerts. You'll get brief snapshots of the biggest rumors, trends and commentary (about two hours before they break in the news). They also provide a "context" section that gives a background on the situation and the key players (very good if you don't have time to follow Everything).

    • 1
Aug 3, 2007
justanotherbanker:

Subscribe to the BreakingViews email alerts. You'll get brief snapshots of the biggest rumors, trends and commentary (about two hours before they break in the news). They also provide a "context" section that gives a background on the situation and the key players (very good if you don't have time to follow Everything).

Hi, I went on the site but couldn't subscribe to email alerts. where is that? I only see subscribe but I have to call this number. Thanks.

Jul 29, 2007

i have a subscription to the economist and i haven't opened last weeks copy. i find i have better things to do in my free time than sitting down reading! aarggh. and i could read it cover to cover before i started work.

banking makes you dumb.

Aug 3, 2007

I read the WSJ religiously when I was recruiting and prepping but since then, I cringe and die a little bit inside when I see it on my driveway every morning. I should just call and put a hold on my subscription. I'm sure I could better pass it on to someone recruiting next year...

Dealbook and Mergers & Inquisitions on the other hand...

Aug 3, 2007

There is a difference between the print and online versions, and yes, increased frequency of typos or similar errors are characteristic of the online version.

I've noticed a number of typos in the online version as well (and this has been the case for several years). Plenty of people will tell you that WSJ is going downhill, but mistakes in the online version are a product of articles being updated and edited hourly (or even more frequently) throughout the course of a day. The frequent updates aren't necessarily a bad thing (since you do get refined information not in the print edition), but it does make the site read more like a blog at times.

Aug 3, 2007

read their DealJournal. Other than that, I read articles that are recommended to me by those whom I trust.

I prefer DealBook, DealBreaker, Thedeal.com and other sources. The NYT now has a pretty good business section that I have become fond of.

Jul 29, 2007

I personally like Financial times better. But the point is really just to get a grasp of how the 'market' is doing that day.

Speaking of different finance topics, I learn a lot from reading Barrons weekly.

Jul 29, 2007

I personally like Financial times better.

Oh, how European of you.

Aug 3, 2007

It probably won't be needed. I know pretty much nothing about the marketplace/news, and I was never asked about it in any of my ib interviews for summer analyst & full time. If you're interviewing for something like Allen & Company, Raine Group, etc that focus on specific industries, then I would definitely read up on those industries, but if not, it's likely unnecessary. They might ask a general question at a BB where you'll most likely get placed later like what groups are you interested in, but nothing in depth

Aug 3, 2007

I always go through the main news happenings+ couple of sections I have interest in detail...rest ijust skim through making sure I dont spend more than 30-40 mts top in readin!...not worth the extra couple o hours to crouch over and memorize each line in each page...i hv seen dickheads do that here at school and its just sad!!

"A man travels the world over in search of what he needs and returns home to find it." ~George Moore

Aug 3, 2007

Read MarketMinder instead.

Metal. Music. Life. www.headofmetal.com

Aug 3, 2007

Minimum: Front Page + Business Section.

Always best to read everything on the front page - if it's on the front page it's probably important enough that everyone else knows about, so should you.

Aug 3, 2007

Thanks for the comments! Any more input?

Aug 3, 2007

From left to right

Aug 3, 2007

Read yellow on far left on front page. Then skim Marketplace.

Key issues if pressed for time are Ahead of the Tape (C1), the In the Markets subsection (C4 in Money & Investing) which covers how equities, FX, commodities and/or fixed income did the previous trading session and Heard on the Street section which is pretty thorough, yet brief and concise.

This should take at most 20 mins.

Aug 3, 2007

financial times is better

Jul 29, 2007

You can read other pubs like the FT or Economist, but you should at least skim the headlines of the WSJ every day. I can assure you that the higher ups at your company are at least getting the headlines every day. Nothing worse than being caught off guard with a question from your boss or bosses boss about a WSJ topic from today's issue.

Aug 3, 2007

you are not analyzing enough. What major are you? I am an econ major and one of the greatest advantages is that when I read the WSJ, I can make guesses as to what will happen just by reading a headline - ex. Interests fall - I know what should follow from there. Then i read the article and confirm my guesses. After you do that for about a month you should be able to make pretty good predictions about the economy etc. and make a logical conversation out of it.

In the end, there is a great deal of uncertainty in the economy. BS and GS economists expect interest rates to rise, while DB, ML, and MS economists expect them to fall by the end of the year.

Aug 3, 2007

I don't think you should over analyse. first of all, focus on the sectors that your interested in e.g tech then you can gradually get into other sectors then get a grasp on the whole thing. it was overwhelming reading the whole thing when i started a couple years back but i just grew into it. this is from personal experience so it varies.

Aug 3, 2007

It should take one week at the most to get the idea for a particular geography. Last week (for US), it was about subprime markets doing poorly, an improved NAPM Index that shows that the economy is picking up, lower unemployment numbers, and concerns about inflation. Some say the FED might reduce rates (right now at 5.25%).

You should pick a couple sectors that you're interested in and you're good to go.

Aug 3, 2007

Give it another month or two, though you shouldn't expect to "understand everything" at any point, now or in the future, because nobody does; economists are infamously poor prognosticators.

With that said, if you read at least a little bit of the WSJ every day, you will start to "get it" within another month or two. The people you talked to are right; there are "storylines" with each company, goverment, economic principle, etc. Eventually you will get to know most of them, because they pop up at the least once every couple of months. Once you know most of the "storylines", you will recognize that a lot of the articles you're reading are essentially updates on those storylines.

Aug 3, 2007

read the economist for understanding and analysis...

Aug 3, 2007

It is different for everyone obviously. It definately helps when it comes up in classes, conversation, etc. and it helps you relate. Keep at it and it will come to you.

Aug 3, 2007
Aug 3, 2007

Focus on the words. The pictures are merely decoration.

Aug 3, 2007

You've probably already done this, but download the app as well. I read it on my way to work in the mornings.

Aug 3, 2007

by unsubscribing

heister:

Look at all these wannabe richies hating on an expensive salad.

https://arthuxtable.com/

Aug 3, 2007

delete

    • 1
Aug 3, 2007

It's 2014. Why are you guys still paying for news? Not only can you get the same news as in WSJ for free, you can read WSJ online for free without a subscription if you just google the article title.

Aug 3, 2007

Are we supposed to wake up every morning pretending to know the daily stories being ran in these subscriber-paid for sources and their article titles? Not all of the news in the FT/WSJ/etc online is free. Most newspapers/magazines with rich content and good journalism require a subscription.

Aug 3, 2007

just follow Vice on FB and get access to gems like this:

http://www.vice.com/read/sugar-cum-made-my-jizz-ta...

heister:

Look at all these wannabe richies hating on an expensive salad.

https://arthuxtable.com/

Aug 3, 2007

^salty

You know what else is fat, RUDENESS

Aug 3, 2007

probably get a grammar workbook for $15 instead. "its'" is not a word

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Aug 3, 2007
new_era:

probably get a grammar workbook for $15 instead. "its'" is not a word

ironic

heister:

Look at all these wannabe richies hating on an expensive salad.

https://arthuxtable.com/

Aug 3, 2007

I don't to be the one that misses sarcasm, but have you gone through your entire life thinking that "its" isn't a word?

Aug 3, 2007

How poor are you people that you can't afford a WSJ subscription? Taking the '2 seconds' extra per article seems like you don't value your time very much if you read the WSJ everyday. I think a year long subscription is about $100.

Aug 3, 2007
Comment

heister:

Look at all these wannabe richies hating on an expensive salad.

https://arthuxtable.com/

Aug 3, 2007
Comment
Aug 3, 2007
Comment

Currently: future psychiatrist (med school =P)
Previously: investor relations (top consulting firm), M&A consulting (Big 4), M&A banking (MM)