How Social Media Is Affecting Investing And The Quality Of Financial Journalism

There were two great panels on social media and financial journalism that ran concurrently at the 2011 Milken Global Conference on Wednesday. CNBC’s John Carney was a panelist on “Financial Journalism: Watching the Watchdogs.” I attended “How Social Media is Changing the World of Investing.” I had him join me to discuss the most interesting takeaways from both panels.

“There is a tremendous audience for serious financial journalism,” Carney said. “Twitter and blogs have exploded on the financial space.” He believes that the reader’s appetite for quality content is driving professional journos to develop expertise, as the demand-pull for quality is driving the ethos of “content is king” higher.

 

 

Transparency forces the journalist to bring their A-game all the time, Carney contended, and that journalists cannot “phone it in.”

I asked him “Are facebook “Likes,” Twitter “Klout,” or LinkedIn “Recommendations” the best heuristics for vetting financial journalists?” His answer may surprise you.

Content is stil king.

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