Financial news - more accessible than you think
As share markets open in Australia and later across the world the world of trading has been for many a world closed off to a select few. I had my own beliefs on this walled off world before I joined it but I was always of the view that the public only had limited access to business and financial news through the snippets you’d see in the daily newspapers or via the 10 minutes it gets in nightly local tv news. There are other options like buying financially focused newspapers like the Australian Financial Review which have a wealth of business focused information but who has time to read all that? Most of us don’t since we have our own non-finance focused day jobs. Anyway, there are solutions out there that don’t require us to break the proverbial bank and I go through these below.
As attitudes towards media and our various patterns of consumption behaviour change there are a number of ways I find I can still consume financial news without having to fork over a lot of money to access the professional financial terminals that the professionals have access too. Sure, we the public won’t be able to see shares trade in real time on all exchanges or get access to the smartest minds on Wall Street, but the world of financial news is not all that closed off. Take for example the free financial news churned out every day by Bloomberg which I would access every day even whilst I still had access to the more expensive systems that the public hardly can access.
The first example of this is Bloomberg’s channel on YouTube which has a wealth of financial news snippets like this one below showing the overnight report that Snap Inc’s (the parent company of Snapchat) user growth had suffered a sequential decline in users. The markets saw this negatively leading to a 1 day drop off in share price when the news was announced on August 8. News like this can lead to many other questions like whether this is part of a wider trend and set to continue and what are the effects on other competitors like Facebook who own rival platform Instagram.
These snippets are part of the Bloomberg Technology show which are shown in full (delayed) every day on YouTube (the latest one below). This is based in San Francisco where the technology scene is the largest however does not stick to just that geographic region but rather, it also focuses on technology news around the world.
Additionally, there is the Bloomberg Live news show which streams 24 hours a day 7 days a week. I had always thought these shows to be significantly delayed since it was going out free to the public but imagine my surprise when I noticed that on the paid for systems at work, the live TV stream there is only a few seconds ahead of what is on YouTube. Bloomberg Live news repeats old segments when the markets are not open however if you have a way to listen in on these shows during your work day or even using the rewind feature to catch up when you’re at home then you’ll be doing well in keeping updated with financial news around the world.
Finally, the way I used to start my days would be to listen to Bloomberg Daybreak on SoundCloud. As various markets open across the globe they have a 5-minute run down of what’s going on in the financial markets around the world. In London, I’d be up at 530am to first listen to London news and then hear what was going on in Dubai, Sydney and other places around the world during my sleep. They’d also feature other segments related to market specialisations like the Macro Man podcast by Cameron Crise which focused on global macroeconomic trends. Link is below:
So, as you can see, even as a non-financial professional, you can still become financially literate and do so at a very low cost. The sites I mentioned are only focused on what Bloomberg provides but there are so many books, publications, podcasts and videos out there in the world. I keep my focus on videos and podcasts during my day to day since I can listen to these on the move. Also, this does not focus on how you might look at linking the ideas that come out of these news shows and bringing these into your own financial analysis models but in terms of how to do that, I’ll cover in a future post.
Over and out.