Here’s Kauppalehti’s online front page from today:
For those who don’t read Finnish, the first headline says “Analysts eulogize Nokia – share price is going down” and the second says “Nokia a disappointment – on all indicators”.
These articles nicely contradict each other and create a situation where once again, Kauppalehti fails to produce anything meaningful or useful in terms of news by providing useless pseudoanalysis or self-contradiction.
Of course, Kauppalehti is not alone. 99% of the financial news and analysis in particular are becoming somewhat of a farce – they’d be so much fun to read if they weren’t on such serious topics or if they didn’t have real impacts on the markets. The following quote from State Street Global Markets from last year comes to mind that is now true more than ever:
Market participants don’t know whether to buy on the rumor and sell on the news, do the opposite, do both, or do nothing, depending on which way the wind is blowing.
What is the value of analysts in situations like the past few weeks when the analysis they produce are outdated and irrelevant just 24hrs after publication?
