Since 2002, when research was formally separated from investment banking, the quality of research on Wall Street has deteriorated, and many top analysts have left the business.

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– Banks are no longer allowed to pay their analysts from any revenue derived from investment banking, only from trading operations.

– An investment banker can’t call a research analyst at the same firm without a lawyer chaperoning the conversation.

New York Times

Good parallel is drawn, in the article, with journalism.

VIDEO: Max Keisers attempt at predicting the future -subjectively

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Overall, the TV show is based on a good concept (trying to predict future headlines), and I&#8217-m sure it will be a success in the end.

However, one big mistake Max is doing is to have female journalists. Sorry to say that, but if you are in the business of selling subjective predictions, you need to have credible predictors, with loud voice, charisma, and definitive attitude. Most women in journalism don&#8217-t display those qualities.

Max, fire the journalists and put real pundits on your TV show.

Video

Previous blog posts by Chris F. Masse:

  • The letter David Pennock will never send out —well, we hope.
  • Monitor the web traffic of TradeSports.com, InTrade.com, BetFair.com, Betdaq.com, NewsFutures.com, HubDub.com, etc. —thanks to Google Trends.
  • Here’s the way to promote innovation for entry-order and analysis software packages —separate the 2 functions.
  • Ugly things happened before BetFair was invented
  • Tiny API delay for non-UK customers of BetFair —since all international BetFair bettors, traders and gamblers are now served from Malta, not from London.
  • CLOCK IS RUNNING FAST: 17 days to go, if we want to counter AEI’s push for not-for-profit prediction exchanges.
  • In the for-profit vs not-for-profit debate, our prediction market luminaries, doctored by Bob, are on the wrong side of the issue.