MarketWatch is a mega financial site with terrific traffic and the ability to really drive attention to blogs. Wade Dokken
Our MarketWatch colleague David Weidner sifts through the blogosphere and compiles a list of his top 10 favorite financial blogs. It’s a solid group, with the highly regarded Barry Ritholtz at the top and includes other Market Talk favorites like Calculated Risk, naked capitalism and The Reformed Broker.
Every addict has to have his or her fix, and for Wall Street junkies obsessed with bonuses, bailouts and beta, the blogosphere has plenty of smack to go around.
Wall Street blogs have become a serious enterprise of late affirmed by the recent acquisition, for an undisclosed sum, of Footnoted.org by Morningstar Inc., the Chicago-based fund research giant and CBS Corp.’s 2007 acquisition of Wall Strip for a reported $5 million.
These homespun sites break news, offer wit and insight that wasn’t even available a few years ago. Some have risen to the point of being must-reads on a daily basis. Nouriel Roubini, the economist, is a blogger and reader of blogs. One blog has steady traffic from the Federal Reserve and Congressional staffers. Another is rumored to be read by hedge fund executive Ken Griffin and Jamie Dimon of J.P. Morgan Chase & Co.
Blogs have had their scoops too. In June, Clusterstock was first to report that Merrill Lynch brokerage chief Dan Sontag was in trouble at Merrill Lynch. He resigned a few weeks later.
On the flip side, some blogs stink. They don’t post frequently enough, or worse, they simply aggregate and rip off.
Market Talkers, let us know in the comments below some of the financial blogs you read on a regular basis.
- Ridiculously Concentrated ETFs (blogs.forbes.com)
- The face of the financial crisis (blogs.forbes.com)
- Where Are They Now? Seven Villains of the Financial Crisis (dailyfinance.com)
- The Case Against Goldman Sachs (time.com)