Financial Journalist Confessions (Podcast)

Feb. 11, 2019 12:26 PM ET6 Comments2 Likes
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SA For FAs
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Summary

  • Veteran Australian financial journalist Michael Pascoe admits to having spent a quarter of a century providing daily financial market reports that were “mostly rubbish.”.
  • Now he is trying to keep investors focused on the long-term, and is finding that doing so "gets boring."
  • Pascoe is spot-on. I too find I must repeat the few key ideas that really matter to investors.
  • But it’s not just the financial media that are to blame; it’s also media consumers hankering to get their fix of infotainment.

Veteran Australian financial journalist Michael Pascoe admits to having spent a quarter of a century providing daily financial market reports that were “mostly rubbish.” Now he is trying to keep investors focused on the long-term, and is finding that doing so is of less interest to readers. Pascoe is spot-on. It’s not just the financial media that are to blame; it’s also media consumers hankering to get their fix of infotainment.

In this brief podcast (4:26), we consider a parallel example of this problem in news stories with polls during elections. The polls are shoddy work, their data usually meaningless and their track record dismal, yet that's what readers gobble up.

Listen on the go! Subscribe to the SA for FAs podcast on iTunes, Stitcher and SoundCloud (click the highlighted links).

This article was written by

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GIL WEINREICH - Author of "The Mentor," a unique parable for financial advisors and those who aspire to become one. I have worked in the FA arena since 1997, and during that time, the New York State Society of CPAs twice awarded its prestigious Excellence in Financial Journalism award to me for a monthly column I wrote on business ethics. Previously, I reported on international news for Voice of America (where I was awarded a newsroom writing award) and prior to that worked as an editorial assistant at U.S. News and World Report. I live with my wife and children amidst the verdant and vibrant hills and dales of Jerusalem.
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