Thursday, February 25, 2010
WSJ: Must Read Wall Street Blogs
Ten Wall Street Blogs You Need To Bookmark Now
Every addict has to have his or her fix, and for Wall Street junkies obsessed with bonuses, bailouts and beta, the blogosphere has plenty of smack to go around.
Wall Street blogs have become a serious enterprise of late affirmed by the recent acquisition, for an undisclosed sum, of Footnoted.org by Morningstar Inc., the Chicago-based fund research giant and CBS Corp.'s 2007 acquisition of Wall Strip for a reported $5 million.
These homespun sites break news, offer wit and insight that wasn't even available a few years ago. Some have risen to the point of being must-reads on a daily basis. Nouriel Roubini, the economist, is a blogger and reader of blogs. One blog has steady traffic from the Federal Reserve and Congressional staffers. Another is rumored to be read by hedge fund executive Ken Griffin and Jamie Dimon of J.P. Morgan Chase & Co.
Blogs have had their scoops too. In June, Clusterstock was first to report that Merrill Lynch brokerage chief Dan Sontag was in trouble at Merrill Lynch. He resigned a few weeks later.
On the flip side, some blogs stink. They don't post frequently enough, or worse, they simply aggregate and rip off.
What follows, in my opinion, is the best of the best. I've limited the list to include sites that combine news and analysis on Wall Street, skipping the stockpickers or pure investing sites. Some in the top 10 are focused on the economy, but include the world of broker/dealers and banks as part of their mission. For purely economic blogs see WSJ.com's piece from July 2009. I've also excluded blogs run by major news organizations such as the Wall Street Journal, New York Times and Financial Times.
Posted at 10:14 AM | Permalink