Monday, September 28, 2009

ZeroHedge Gets Massive Write up In New York Magazine

I'm still working my way through this epic piece in New York Magazine about our financial blogosphere brothers (and sisters) in arms Zerohedge. I used to email the original "Tyler Durden" before he (it?) became so popular, although apparently there is now a whole outfit of 30 some people so whomever I was emailing in January/February 2009 is not the same person I'd be emailing today at that address. The magazine piece is quite an interesting back story - how much is accurate or not, who knows. But from a guy (group of guys) who used to cross promote with our lowly blog to help get each other exposure [Feb 19, 2009 - Guest Post: ZeroHedge - Some More Bad News for Dry Bulk Shippers] the growth at ZeroHedge has been explosive. To put it in perspective we had way more traffic than they did back in February!

You can follow the link in the first sentence of this post for the full story

The nothing-can-be-believed chaos of the financial crisis created a golden opportunity for a blog run by a mysterious ex hedge funder with a dodgy past and conspiracy theories to burn.

ZeroHedge responds here:

Yet another amusing media interlude. Zero Hedge appreciates the gossip pages' attempt at profiling our zany cause. Even if, as the case may be, these particular gossip pages are in fact owned by the very same Establishment that our "conspiratorial" disclosures attempt to represent for the motivated and deeply embedded wealth redistribution enterprise it is.

I for one am all for their cause whatever the background of the founder(s); as most things in America, media has become concentrated in just a few dominant hands ("too big to tell the truth!")- outside voices that are willing to expose the dirt beneath seem to be a mostly lost cause in mainstream media. I'm a big believer where there is a lot of smoke, there is fire... and judging by what authorities seem to "catch" (many times years after the fact) you can only imagine what is going on that never sees the light of day. Perhaps with government assistance...



On a side note - it is neat to see a lot of names well known in the financial blogosphere cited more in the mainstream....

Wall Street’s Digital Underground
A few of the more prominent financial bloggers.

Illustrations by Matthew Woodson

The Amiable Skeptic
Barry Ritholtz was a pioneer when he launched the Big Picture in 2003 using the beta version of blogging software, Word Press. He’s a levelheaded bear with a knack for seeing through the statistical fog of economic data, and wrote a well-received book, Bailout Nation.

The Cranky Bull
John Hempton of Bronte Capital covers the ins and outs of Wall Street and Washington—from Australia. A professional money manager, he started out bearish but went bullish last spring, prompting the ridicule of his blogging cousins, whom he dismisses as “perma-bears.”

The Crisis Queen
Naked Capitalism’s Yves Smith had worked at Goldman Sachs before she started blogging in 2006, distinguishing herself with a facility for deconstructing complicated economics. She is writing a book called Econned, about the flawed ideas that led to the crash.

The Equal-Opportunity Debunker
Felix Salmon had a stint blogging for famously bearish NYU economist Nouriel Roubini before he moved to Reuters. A serial skeptic of skeptics, he famously launched an assult on Ben Stein’s conflicts of interest as a columnist for the Times, which led to Stein’s departure.

The Money Gossip
Bess Levin’s posts at Dealbreaker, the de facto “Page Six” of Wall Street, are as much about snark as finance, but her devoted following inside mainstream Wall Street firms has enabled her to beat The Wall Street Journal on a story or two.

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