I've been a news junkie my whole life with a few brushes inside the print and radio news areas. I'm no way a reporter but have held positions in my life that required a reasonable recounting of events with editorializing the content. What that was was reporting but I wasn't reporting news like these guys on the trading floor get. I was summarizing what my friends around here would call ancient history.
I think that CNBC and CNN have a fair handle on 'breaking news' and have technology that displays it pretty fast. Timed events, like the jobless rate announcements etc., are brought to you "live" or as they happen but that isn't the case. I reality everyone on any trading floor of note is hearing history or ancient history when it hits TV.All through history those who had news first had an advantage, be it in war or economics, science or whatever. Now due to the pervasive nature of communications and media that "time advantage" is compressed. Not only is the receipt of news and the advantage of it measured in micro-seconds the advantage for use of this news is also a measured similarly.
I remember in the middle 1980s when the advertising firm I was with finally got a fax machine. With it took away the excuse of "must be in the mail" and thoughtful answers. The fax screwed that all up because the send new you had the question and why can't you answer right now. Just something to ponder.
I think that CNBC and CNN have a fair handle on 'breaking news' and have technology that displays it pretty fast. Timed events, like the jobless rate announcements etc., are brought to you "live" or as they happen but that isn't the case. I reality everyone on any trading floor of note is hearing history or ancient history when it hits TV.All through history those who had news first had an advantage, be it in war or economics, science or whatever. Now due to the pervasive nature of communications and media that "time advantage" is compressed. Not only is the receipt of news and the advantage of it measured in micro-seconds the advantage for use of this news is also a measured similarly.
I remember in the middle 1980s when the advertising firm I was with finally got a fax machine. With it took away the excuse of "must be in the mail" and thoughtful answers. The fax screwed that all up because the send new you had the question and why can't you answer right now. Just something to ponder.
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