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Strategies & Market Trends : Booms, Busts, and Recoveries
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To: Slagle who wrote (67180)8/9/2005 12:39:17 PM
From: Moominoid  Read Replies (1) of 74559
 
Moominoid Re: "media commentators" I think most of those types are doing good to make it to the TV studio every day without getting lost. <g> Now here you have lots of these young gals (and guys) that went straight from journalism school to the TV station soapbox without ever really doing a stint in the real world so how could you expect them to know much.

It is always my working assumption. Yet when I question news reports people pass on here, sometimes they get upset :)

One of my senior colleagues in Australia said "If everything I read in the newspaper that I know about is wrong, why do I believe any of the other stuff?"

Like with trying to figure out just how many shares BIDU sold in the IPO and how many were sold by insiders and how many new shares were issued. I suspect that a lot of the reporters don't understand the distinction which is why the numbers are all over the place and don't add up.

In Aus often a number would be published like $1.69billion take-over. And when you dug down actually it was a $1.3billion takeover but the reporter had assumed that that was US dollars and so converted again to Aussie dollars when in fact the conversion had already been done. I think I even saw cases where the exchange rate had been applied more than two times :)

Some of the numbers involved in environmental scares also go through erroneous conversions to get the way they are and no-one knows how to check it. So any number I read I quickly do a mental check to see if it makes sense.
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