“The Internet-first crew pummelled Main Stream Media with immediate paragraphs of perspective, then delivered substantial and smart articles as MSM issued tentative first reporting.”
For the most part, Keene was referring to financial bloggers and academics, who have been the first to embrace the medium.
But yesterday, a major Wall Street player entered the fray in a big way: Morgan Stanley.
Vincent Reinhart, Morgan Stanley’s Chief U.S. Economist, provided his instant reaction to the Fed’s FOMC announcement on Twitter!
Don’t get us wrong. Morgan Stanley had their Twitter account before yesterday.
But it’s the LIVE economic and financial commentary that makes it extremely valuable to the investors and traders who hunger for it.
Contrast this to Goldman Sachs’ Twitter account which had anything but commentary to offer during the Fed’s crucial FOMC announcement.
It would appear that the mission of @GoldmanSachs is completely different from that of @MorganStanley.
But from a marketing standpoint, this could be a brilliant move by Morgan Stanley.
See, most Wall Street research is only available to clients. And the public never gets to see it unless financial media outlets like Bloomberg, CNBC, and Business Insider report on it.
Through Twitter, Morgan Stanley is able to give the public a sneak peak at the type of experts they have to offer, without giving away everything that their clients pay for.
Furthermore, Morgan Stanley earns itself tons of street cred by throwing its hat into the same ring as the other LIVE online commentators.
Clearly, Morgan Stanley knows what they’re doing. Just look at their clean use of hashtags.
Disclosure: @GoldmanSachs once tweeted to the author of this post. For what it’s worth…