Comments on: The Journal Tells Us Quants Have Suffered http://www.nakedcapitalism.com/2007/09/journal-tells-us-quants-have-suffered.html Sun, 22 Nov 2009 16:18:41 -0500 http://wordpress.org/?v=2.8.4 hourly 1 By: Yves Smith http://www.nakedcapitalism.com/2007/09/journal-tells-us-quants-have-suffered.html#comment-757 Yves Smith Fri, 07 Sep 2007 16:06:00 +0000 http://www.nakedcapitalism.com/2007/09/the-journal-tells-us-quants-have-suffered/#comment-757 Two things that bother me about the Journal are consistency and flabby writing. The Journal does have solidly researched stories (a long time ago, but they were very good on Enron and they broke and have been dogged about options backdating. They've also had some good overview stories on various aspects of the mortgage mess). But then they have pieces like the one above that are weak yet are on page one (I wouldn't have hammered them if this story were buried somewhere in the paper) and softball pieces (their CEO Q & As are classic).<br/><br/>And I've noticed that most of their stories seem to take 50% more words than necessary.<br/><br/>Bloomberg is another option. The writing isn't great, but its response time is fast, and they do have some exclusive stories. Two things that bother me about the Journal are consistency and flabby writing. The Journal does have solidly researched stories (a long time ago, but they were very good on Enron and they broke and have been dogged about options backdating. They’ve also had some good overview stories on various aspects of the mortgage mess). But then they have pieces like the one above that are weak yet are on page one (I wouldn’t have hammered them if this story were buried somewhere in the paper) and softball pieces (their CEO Q & As are classic).

And I’ve noticed that most of their stories seem to take 50% more words than necessary.

Bloomberg is another option. The writing isn’t great, but its response time is fast, and they do have some exclusive stories.

]]> By: Anonymous http://www.nakedcapitalism.com/2007/09/journal-tells-us-quants-have-suffered.html#comment-756 Anonymous Fri, 07 Sep 2007 15:58:00 +0000 http://www.nakedcapitalism.com/2007/09/the-journal-tells-us-quants-have-suffered/#comment-756 I've always considered the WSJ to be pretty much hack "journos" (like Paul Gigot) as paid advertisers of industry. They were already the "respectable" equivalent of the NY Post. Now since Rupes owns them, the veil of "respectability" gets thrown aside. <br/><br/><br/>-A- I’ve always considered the WSJ to be pretty much hack “journos” (like Paul Gigot) as paid advertisers of industry. They were already the “respectable” equivalent of the NY Post. Now since Rupes owns them, the veil of “respectability” gets thrown aside.

-A-

]]> By: dd http://www.nakedcapitalism.com/2007/09/journal-tells-us-quants-have-suffered.html#comment-754 dd Fri, 07 Sep 2007 14:01:00 +0000 http://www.nakedcapitalism.com/2007/09/the-journal-tells-us-quants-have-suffered/#comment-754 Totally agree about WSJ (read only the free on line stuff). The FT is far superior and way ahead of the WSJ. While WSJ is reporting old news this morning's FT offers the following tidbit:<br/>"Goldman Sachs made $300m last month from the resuce of one of its troubled hedge funds, even as external investors lost more than a fight of their money." Totally agree about WSJ (read only the free on line stuff). The FT is far superior and way ahead of the WSJ. While WSJ is reporting old news this morning’s FT offers the following tidbit:
“Goldman Sachs made $300m last month from the resuce of one of its troubled hedge funds, even as external investors lost more than a fight of their money.”

]]> By: jmf http://www.nakedcapitalism.com/2007/09/journal-tells-us-quants-have-suffered.html#comment-753 jmf Fri, 07 Sep 2007 13:55:00 +0000 http://www.nakedcapitalism.com/2007/09/the-journal-tells-us-quants-have-suffered/#comment-753 Moin Yves,<br/><br/>here is another example <a HREF="http://ftalphaville.ft.com/blog/2007/09/07/7134/sivs-in-the-citi/" REL="nofollow"><br/>FT vs WSJ</a> <br/><br/>In a letter seen by the WS Journal, Citigroup’s SIV overseers, Paul Stephens and Richard Burrows, said that:<br/><br/>Quite simply, portfolio quality is extremely high and we have no credit concerns about any of the constituent assets… SIVs remain robust and their asset portfolios are performing well. <br/><br/>But look at the filings with the London Stock Exchange, and you will see that Citi’s SIVs have seen declines in portfolio net asset value of 17-20 per cent in the past few months, which doesn’t quite sit comfortably with Stephens and Burrows assertion that “asset portfolios are performing well”. Moin Yves,

here is another example
FT vs WSJ

In a letter seen by the WS Journal, Citigroup’s SIV overseers, Paul Stephens and Richard Burrows, said that:

Quite simply, portfolio quality is extremely high and we have no credit concerns about any of the constituent assets… SIVs remain robust and their asset portfolios are performing well.

But look at the filings with the London Stock Exchange, and you will see that Citi’s SIVs have seen declines in portfolio net asset value of 17-20 per cent in the past few months, which doesn’t quite sit comfortably with Stephens and Burrows assertion that “asset portfolios are performing well”.

]]> By: Anonymous http://www.nakedcapitalism.com/2007/09/journal-tells-us-quants-have-suffered.html#comment-749 Anonymous Fri, 07 Sep 2007 10:24:00 +0000 http://www.nakedcapitalism.com/2007/09/the-journal-tells-us-quants-have-suffered/#comment-749 I feel much the same way. A long-time FT reader, I started reading the Wall Street Journal as well about a month ago. Pretty thin gruel, I'd say. I feel much the same way. A long-time FT reader, I started reading the Wall Street Journal as well about a month ago. Pretty thin gruel, I’d say.

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