I can't help but think of all the media organs, the WSJ, Bloomberg, FT, Economist, CNBC, Fox Business, et al who cater to this small segment of the population. It must be incredibly alienating to see all this attention paid to well off people when you're on the outside.
> I can't help but think of all the media organs, the WSJ, Bloomberg, FT, Economist, CNBC, Fox Business, et al who cater to this small segment of the population.
I never thought about how small their audience actually is.
That said, I never felt a sense of alienation reading these articles/watching these shows, it really just feels like listening to someone out of touch with reality. I am mostly curious why anyone would bother watching/subscribing to this media, since the amount of information you gain from them is enough to influence you emotionally, but not enough information to gain you a market advantage.
I mean wouldn't you be better off just paying someone to manage your wealth for you or owning shares of a mutual fund? It's like these programs are for people with enough wealth to care about the market, but not enough knowledge to invest it effectively. People who are going to be picking stocks successfully are reading 10-Ks and crunching numbers in excel, not listening to Squawk Box.
> ... I am mostly curious why anyone would bother watching/subscribing to this media, since the amount of information you gain from them is enough to influence you emotionally, but not enough information to gain you a market advantage.
That's the point. They want their audience to be confused. They want them to act on instinct, to spend funds as they choose. It's not about value, it's not about growth - it's about power, first and foremost.
