Punditry In Today’s Financial Media

Any good pundit should know not to completely reverse positions in the same week, or day. Here’s a gem of investing advice from the MarketWatch homepage.

Punditry

  • http://investorplace.com Jeff Reeves

    It wasn’t a reversal, asshole. It was balance. I explained that in the first sentence of the first column, which you didn’t bother to read. Then I spent an hour on Twitter taking questions about this complex topic to give both sides equal play. But hey, why have an open and honest debate about something complex like market at an inflection point when you can take a cute screen cap? Way to go.
    Try READING the columns here and here. They were meant to foster debate on an important topic, but maybe you think it’s better to just be myopic and inflexible on one side. That’s surely not what’s wrong with financial media at all… right? http://www.marketwatch.com/story/10-reasons-to-run-with-wall-streets-bulls-2013-03-19 http://www.marketwatch.com/story/10-signs-your-stocks-are-about-to-tumble-2013-03-18

    • Nick

      Jeff,

      Surely you can see that the problem lies in the presentation, not in you pointing out multiple viewpoints.

      To be fair though, you are not alone in this, and it is partially the fault of the homepage editor.

      • Jeff Reeves

        This is probably too little too late, but I really regret the above post and wanted to apologize for becoming one of those horrible internet commenters everyone despises. It’s hard to claim I’m not part of the problem with behavior like that, so consider this one bad call I’m owning up to.

        I’m sorry. Carry on.

    • Wayne

      I can’t believe you called the blogger an asshole. What a worthless product you and other ‘financial journalists’ create. People who read this junk just get their emotions jerked around, making it very difficult to maintain a rational investment program.

      • ralph

        Jeff,

        That was all style. All style. I mean, uh…. stylish.

  • Random Guy

    You don’t generally see professional journalists respond to criticism by calling the other guy an asshole. Looks like FP struck a nerve.

  • Dean Jens

    Incidentally, sports websites regularly do this sort of thing, with the same guy writing an article giving “5 reasons San Francisco will win the Super Bowl” and another offering “5 reasons Baltimore will win the Super Bowl”.

    • Nick

      This is more akin to a “Which Celebrity Has The Hottest Ass?” article though. The conclusions the author reaches are fairly meaningless, because the purpose is to entertain, not to inform/educate.

      Perhaps this should be a reminder that the purpose of financial media is the same as any other media, to, above all, entertain and gain audience.

      • My_mom_loves_fin_media

        Well said!

  • http://@yahoofinance Macke

    If a pundit or commentator can’t argue both sides of any case he’s not worth a damn.

    It was a cheap shot screen grab (which the FP writer conceded) and an overreaction, as was manfully owned by Mr Reeves.

    Personally, I completely understand while not condoning the response. The credit belongs to those in the arena, as TR said. As soon as one of you folks have been attacked in a way you feel is unfair by scores of anonymous people then you may pass judgement (and refuse to grant forgiveness).

    I’ve got some experience on this front, folks. Cut everyone involved some slack.

    – Jeff Macke

    • Nick

      I didn’t say this was a cheap shot, I just said it may be unfairly putting Jeff in the spotlight for a tactic he (financial media) is not alone in.

      In the post, I never mentioned Jeff, I mentioned MarketWatch. This post was intended as a knock on financial media outlets and how they are structured, not any one particular writer.

      Maybe Jeff wrote 2 really insightful pieces showing both sides of the market, or maybe he just wrote whatever will get people stirred up. The point is that it’s largely irrelevant from the perspective of the casual finance reader, who will often have trouble knowing the difference.

      The headlines/taglines don’t do Jeff any favors either. They are definitive. The market IS GOOD. The market IS BAD. I don’t think I would have made this post if the headlines were “10 Arguments the Market is Overbought/Oversold”.