Thursday , July 18 2019
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We Didn’t Say it WASN’T a Press Release

Summary:
Every morning, we run the Narrative Machine on the past 24 hours worth of financial media to find the most on-narrative (i.e. interconnected and central) stories in financial media. It’s not a list of best articles or articles we think are most interesting … often far from it. But for whatever reason these are articles that are representative of some sort of chord that has been struck in Narrative-world. There are a couple reasons I’m intrigued by this story ranking so high on the Zeitgeist today. The first one is that weed stocks have been remarkably resilient as a part of the financial media Zeitgeist. My suspicion is that this is simply being driven by clicks, and if you write about weed and weed stocks, you’re going to get those clicks in ways that writing about, say,

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Every morning, we run the Narrative Machine on the past 24 hours worth of financial media to find the most on-narrative (i.e. interconnected and central) stories in financial media. It’s not a list of best articles or articles we think are most interesting … often far from it.

But for whatever reason these are articles that are representative of some sort of chord that has been struck in Narrative-world.


We Didn’t Say it WASN’T a Press Release

There are a couple reasons I’m intrigued by this story ranking so high on the Zeitgeist today. The first one is that weed stocks have been remarkably resilient as a part of the financial media Zeitgeist. My suspicion is that this is simply being driven by clicks, and if you write about weed and weed stocks, you’re going to get those clicks in ways that writing about, say, Clorox wouldn’t get you. Doesn’t hurt that Motley Fool’s business model, whatever it was originally, is now basically pitching investments cannabis ideas to your boomer relatives on Facebook, either.

But I’m also fascinated by how often these Benzinga articles keep ranking as highly as they do. Every one we see is syndicated through Morningstar, reads like a news article, transitions to an obvious pitch, and never really discloses that it was really just a press release disguised as news. Is there any chance that the average person researching mutual funds on Morningstar.com, would know that? It’s really misleading, and really disappointing.

You rarely see a They Live meme-worthy transformation of newsy-looking content to pure pay-to-distribute opinion journalism in the course of a single piece, but well, here we are:

We Didn’t Say it WASN’T a Press Release

I suppose it goes without saying, but “Why am I reading this NOW?” should be your go-to on just about any site that syndicates content like this as news, sight-unseen. Add Morningstar to that list.

Rusty Guinn
Executive Vice President of Asset Management, Salient. Rusty Guinn is the executive vice president of asset management at Salient. He oversees Salient’s retail and institutional asset management business, including investment teams, products, and strategy. Rusty shares his perspective and experience as an investor on the Epsilon Theory website.

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