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I've seen it done even in the same day. Morning: DOW down 300 points because of Fed decision Evening: DOW up 300 points because of (same) Fed decision Contex

by 323 5y ago

I've seen it done even in the same day. Morning: DOW down 300 points because of Fed decision Evening: DOW up 300 points because of (same) Fed decision Context: most financial analysts at places like Bloomberg are literally some of the lowest paid employees. Most of them never traded any financial market in their entire life, which is quite short since they tend to be in their 20s.

systemvoltage 5y ago
Frontpage headlines are not written by interns. Those are analysts and developers you're talking about. I take the contrarian stance - these headlines are for people that are busy on Wall Street. They just need to know quickly what+context, not what+how. what+how is the holygrail and no one is stupid enough to even complain about these headlines in the Financial world. It is a tidbit that is extremely useful.
- 323 5y ago
  There are plenty of stories from famous financial people who were initially hired as analysts at various banks/news agencies which go like this: so on my first day I was told "from today you cover Apple/Euro/gold market. But I don't know much about that. Doesn't matter, just give your best." And I'm not talking about the 80s, but even people doing this after 2007. You are right about what+context, buy you don't really need analysts for that, to tell you what market moved and what economic event happened before that.
- deleted 5y ago
  [deleted]
redisman 5y ago
I suspect those articles are written by “AI” / some script doing a find-replace.
- vmception 5y ago
  I did that on a solo fintech project 8 years ago Don’t need AI, just string concatenation and an array of sentence types to randomly choose from when the article cron job starts Used bing’s API to search for certain macro market events and used stocktwits api to see which stocks moved the most and would make headlines and aggregate articles about those which it would post to twitter which would drive people to the no-login no-password app and subscription service (used ids based on in-app subscription ID or something else if using a browser) which was all populated with algorithmic trades lol turned it off because I didn't like updating all the APIs and compute instances as the services they relied on kept changing, but yeah self advertising self operating money printer

by 323 5y ago

systemvoltage 5y ago

Frontpage headlines are not written by interns. Those are analysts and developers you're talking about. I take the contrarian stance - these headlines are for people that are busy on Wall Street. They just need to know quickly what+context, not what+how. what+how is the holygrail and no one is stupid enough to even complain about these headlines in the Financial world. It is a tidbit that is extremely useful.

323 5y ago
There are plenty of stories from famous financial people who were initially hired as analysts at various banks/news agencies which go like this: so on my first day I was told "from today you cover Apple/Euro/gold market. But I don't know much about that. Doesn't matter, just give your best." And I'm not talking about the 80s, but even people doing this after 2007. You are right about what+context, buy you don't really need analysts for that, to tell you what market moved and what economic event happened before that.
deleted 5y ago
[deleted]

redisman 5y ago

I suspect those articles are written by “AI” / some script doing a find-replace.

vmception 5y ago
I did that on a solo fintech project 8 years ago Don’t need AI, just string concatenation and an array of sentence types to randomly choose from when the article cron job starts Used bing’s API to search for certain macro market events and used stocktwits api to see which stocks moved the most and would make headlines and aggregate articles about those which it would post to twitter which would drive people to the no-login no-password app and subscription service (used ids based on in-app subscription ID or something else if using a browser) which was all populated with algorithmic trades lol turned it off because I didn't like updating all the APIs and compute instances as the services they relied on kept changing, but yeah self advertising self operating money printer