“The nature and reach of social conversations in the investment arena.”
The above sub-heading is from a recent Post on Naked Capitalism that rather spookily comes hot on the heels of one of my recent musings. Here’s what I published on the 12th January although I wrote it on the 9th.
In the past opinion and commentary has been in the hands, more or less, of the giant media moguls. But technology has changed that. Now more than ever a huge people have access to the Internet. Indeed, a quick Google search reveals that of a world population of 6.85 billion people, just under 2 billion (29%) have internet access. In North America that percentage is 77.4% (226 million) and in Europe the percentage is 58.4% (475 million). I.e. nearly a billion people in just North America and Europe!
My point is that, in a manner never before experienced in human history, the vast majority of us have the ability to read, learn and muse about the critically important issues facing us today, coming to conclusions that carry political weight. We have almost infinite choice as to where and how we form opinions.
Thus having access, via the internet, to the scribblings of so many wise people may end up giving democracy the boost it really needs in the face of overwhelming powerful plutocratic forces.
Coincidentally, also on the 12th Yves Smith of Naked Capitalism published an article entitled, The 20 most influential blogs in financial media. You can find that article here. Here’s a flavour of what was written.
Thanks to Minyanville for publicizing this study by MindfulMoney on the nature and reach of social conversations in the investment arena. But even bigger thanks go to loyal readers and contributors for their frequent comments, leads, and critiques. The success of a blog depends on its community and I am very grateful for all the input so many of you have generously provided.
Perhaps the most interesting finding (boldface ours):
The research confirms the existence of a network of investment super-connectors with extraordinary media influence and reach. These super-connected new influentials are, for the most part, not well established voices in the media but individual bloggers who fiercely champion their independence….In the US, the network functions as the unofficial voice of Wall Street & the US federal bank with no mainstream media players at the centre of the network.
Given how many of these top blogs are critical of the status quo, this map may be hopeful sign that the blogosphere is beginning to become a important channel of discourse outside the reach of the PR machinery of major corporations and government entities.
And rather than publish all the top 20 names, you can see that list here, the top 10 are as follows:
1. Naked Capitalism
2. Infectious Greed
3. The Big Picture
4. Jesse’s Cross Roads Cafe
5. Zerohedge
6. Mish’s Global Economic Analysis
7. Calculated Risk
8. Paul Krugman’s Blog
9. FT Alphaville
10. Ludwig von Mises Institute
Anyone interested in downloading the original report as published on the MindfulMoney website can go to the article here; the link to the pdf, requiring prior registration, is towards the end of the article. The article opens thus:
Most investors would acknowledge that social media is playing an increasing role in their investment decisions. Yet no-one has mapped the emerging network of influence likely to be playing a crucial part in those decisions.
Until now that is. MindfulMoney’s ‘Social Finance: The New Influentials” report is aiming to better understand what this network looks like and to see if a number of super connections, so beloved of writers like Malcolm Gladwell, exist.
The research indicates that they do.
As I said, to download the article you need to register first – that link is here.
It’s a very interesting new world that we are living in and one, I pray, that is returning real power to the electorates.
Learning from Dogs 