Overexposure in the business media

Jonathan Berr of BloggingStocks.com writes about how the business media keep going back to the same people, such as Alan Greenspan, Warren Buffett and Yale University’s Jeffrey Sonnenfeld, for stories.

Berr writes, “Ever wonder why conventional wisdom is so conventional? It’s because it’s the same people repeating it over and over.

“The reason why this happens is mostly laziness. Reporters and TV producers call on the same people to render their opinions because they are the ones who return calls and show up when they are needed. I have done it myself so I know the drill well. Yes, Woody Allen’s claim that 80% of success is showing up continues to be proven right.

“These people can be summed up in several categories: wisemen — they almost always are male — whose every utterance is treated as if it was etched in stone tablets by the almighty, and insta-pundits — who are able to give quotes on every topic imaginable. Finally, there are the personal finance gurus whose message is that by helping me make money, I can help you save money.”

Berr later includes CNBC “Mad Money” host as one of the overexposed, writing, “Cramer (whose company TheStreet.com used to employ me and who blogs for this site) always tells the people who slavishly follow his picks to make up their own minds. That’s good advice provided that they are not distracted by the yelling and sound effects.”

Read more here.