Bloomberg. Reuters. Twitter?!?!That’s right.
This isn’t news to Business Insider readers. We’ve written before about how market-moving news sometimes breaks on Twitter before it breaks anywhere else.
In at least one instance, we witnessed a Bloomberg reporter tweet a headline before it showed up on our Bloomberg Terminal.
“We need Tweetdecks to filter out the noise as well as our Bloomberg and Reuters terminals,” writes Tim Steer in The Telegraph. Steer manages the Artemis UK Growth Fund. Tweetdeck is an application used to organise tweets.
“But I regret to say that not once have I read that fund managers or investment analysts have made an investment decision based on what they have picked up on this fast-moving and exciting new font of information.”
Steer discusses how Twitter broke two major stories: the News of The World scandal and the Costa Concordia disaster. Traders on Twitter had the jump on the stories.
“I suspect that one of the reasons the vast majority of the financial community has yet to embrace it is an age thing,” Steer writes.
However, he believes this will soon change as young recruits enter the industry with their expertise of the new news medium.