Tuesday, August 16, 2016

Wow, someone hates Business Insider more than me?

Actually, the title of my post is debatable, but still....

IPE Zone - Financial sensationalism plus mathlexia equals Business Insider. Quoting a lot just cos my god, it's full of stars:

I try to avoid reading Business Insider as much as possible since its level of intellectual sophistication and journalistic integrity make it the Breitbart of financial reporting--about on par with Zero Hedge for a near-analogue.

Well, that's not exactly true. Zerohedge is a Putin-funded Russian disinformation site and Breitbart is a neo-Nazi circle-jerk in honour of a dead Republican homosexual. I'd say BI is more like a Buzzfeed of financial reporting. But anyway:

The Columbia Journalism Review describes Blodget's creation quite accurately:

What business press readers always lacked but never really needed was a tabloid sensationalist to hype up mundane markets and business news. Who would have ever thought Henry Blodget would be the guy to fill this void?

There are a couple of things to expect when reading Business Insider or Blodget’s tweets: ALL CAPS. Words like “scariest,” “startling,” “doomed.” Headlines that tells you “Here’s why X is happening.” Stock photos. Lots and lots and lots of pithy posts, some of which stretch the truth.

CNBC doesn't fare too poorly on sensationalism, but Business Insider takes it to a new level.

Well, really you can simplify this all down. Does the site feature Marc Faber whenever the market drops 5%? Does the site have regular contributions from commodity blog writers? Then it's probably sensationalist bullshit and you can ignore them from now on.

In sum:

There are apparently lots of people who prefer their news laced with pandering and sensationalism--this is the Internet, after all. Business Insider worsens matters by lacking basic knowledge of what they write about. If you don't understand something as simple as exchange rates, then there is little else you should be writing about concerning "business."

Yeah, and unfortunately not enough people know this already.

Just watch Nightly Business Report on PBS every night. That's all you need to keep an even keel.

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