Comments on: Financial Media, Press Releases, Hype, and Your Money

By: Rockledge

Rockledge — Sun, 08 May 2011 23:37:46 +0000

I see the same thing in newspapers with new products. It’s frustrating to see such blatant commercials posing as articles.

By: kristine

kristine — Fri, 06 May 2011 02:38:42 +0000

Valleycat- No kidding! My hubby, a history prof, can’t watch the History channel anymore because he gets so frustrated with the factual errors and omissions designed to stress the more sensational interpretation. He spends a lot of his time wearing white gloves examining primary resources, and has no patience for sloppy or sensationalist work that is supposed to be non-fiction.

I can even tell you about my BIL, who worked for National Geographic, and in their “documentaries” spliced crowd scenes from one village into the footage of ceremonies from completely different villages, to make the crowds look larger. That really opened my eyes. He ended up a SR VP at Olgivy and Mather, where at least intent was obvious.

Do not blindy believe even the most trusted of institutions.

By: Tanya

Tanya — Thu, 05 May 2011 15:01:26 +0000

“In the end, it is always best to find out information for yourself as best you can.”

Yes, absolutely. I am chronically worried/alarmed/amazed by how little people ask questions or investigate whether the information they’re absorbing is actually true. On money or any other subject, ask lots of questions!

The media is under tremendous pressure that affects their ability to do their job well. That is yet another reason why people should always ask lots of questions.

By: valleycat1

valleycat1 — Thu, 05 May 2011 13:28:09 +0000

I read somewhere once that the average lay person shouldn’t take seriously any ‘hot tips’ on financial matters, because by the time said hot tip reaches the masses, it’s no longer ‘hot.’

And knowing how many errors or misrepresentations I see in information on topics I’m knowledgeable about, I’ve become much less accepting of any facts people start throwing around on topics I’m less familiar with (or that they seem to be marginally informed about).

By: Wanderer

Wanderer — Thu, 05 May 2011 03:24:17 +0000

I agree with you, unfortunately you’ll continue to get bombarded with requests for “reviews” and press releases. You can be about 99% sure if a company is really pushing something through guerrilla tactics, its best to keep your hands clean of it.

By: Pat S.

Pat S. — Thu, 05 May 2011 02:39:07 +0000

Makes you think!

By: kristine

kristine — Thu, 05 May 2011 01:02:35 +0000

I also believe that for the past 6 years or so, most major news stories (told by the networks, papers, and even the AP) were verbatim, or close to, White House press releases. It started after 911, for obvious security reasons, but remained. Occasionally you will find some odd factual error is occurring across the board. The fourth estate is on life support- I always check the international press sites in addition to American press for a more balanced view formation.

By: jackie

jackie — Wed, 04 May 2011 23:35:44 +0000

This is how most media seems to work these days.

By: MC

MC — Wed, 04 May 2011 20:55:16 +0000

I remember in Barbara Corcoran’s autobiography she mentions how when her real estate group was just starting she pulled out her listings, did some basic math, and sent out a press release on her letter head with *official* real estate statistics according to ‘The Corcoran Group’. No one vetted her or her numbers. They just started quoting her and giving her free advertising. Between that and college statistics I have been not only wary of reporting but reported numbers as well.

By: stannius

stannius — Wed, 04 May 2011 20:55:15 +0000

I read an article a few years ago about this topic. IIRC (it’s been a while) it was from the other direction: how to get your press release turned into an article. Since then I have taken every article with a grain of salt (even bigger than previously.)

Luckily, it’s pretty easy to recognize a press-release-turned-article once you know to be on the lookout for them.

By: Tyson

Tyson — Wed, 04 May 2011 20:49:37 +0000

I subscribe to a few personal finance magazines, take a few people’s advice to heart as they have proved to me that their advice is worthy and I also give advice when I can (or asked too), but you are right…seek the information yourself. I like the publications, other people and publications, but take those offerings, do some of your own research, and make an informed decision that best fits your and your family. Perhaps you will come up with something even better than ‘an expert’. Great post! Tyson