The problem with financial journalism

Brian Bloch of Investopedia writes for the San Francisco Chronicle about what’s wrong with financial journalism today.

Bloch writes, “Preaching to the converted — this ancient idiom captures an extremely prevalent and profound truth. It refers to giving a moral sermon to those who are already in the church, and thus presumably already following the religion that is being preached. By definition, those who should be listening are absent. This is shockingly similar to certain aspects of financial journalism and information in all its forms.

“The classic irony is that this very article will be read by the converted only. So my request to all readers is to spread the word to anyone you know who could be in need of honest advice, and who can be directed towards the financial media.

“The problem group referred to here are all of those who do not know what they need to know about their investments. In particular, these are inexperienced investors who could easily learn the basics which would prevent them from entry-level rip-offs, such as common or garden misselling, unsuitable or inefficient investments and getting into the market at a hideously risky all-time high.”