Will TV Shows Like CNBC Or Bloomberg Help my Trading?
Having Channels such as Bloomberg or CNBC on during the day comes down to what you are trying to accomplish in your trading. You can gain value by following key market participants, but they will also talk a lot about topics that may be irrelevant to your trades.
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We have a quick question from Shauna, who asks whether it’s really worth subscribing to a service like CNBC or Bloomberg and watching their live TV streams for your trading?
Thanks for the question Shauna, I think it comes down to what you are trying to accomplish with it really. If you are just looking for something that’s relevant to your trading day to have on in the background then it’s going to be a good pick I would say, I prefer Bloomberg over CNBC any day though, in terms of content, but the one thing that really gets to me is the ads that just never stops, I can’t go very long watching that before getting frustrated by seeing the same ad for the 7th time in what feels like a short 30 minutes, so that is annoying but maybe that’s just me.
I think in terms of being helpful to your trading, I think when you have access to a live market news service and audio squawk like we do with the terminal, there isn’t really anything new from a news point of view that you will be missing out by watching their shows, but I think where it can be helpful is when they talk to experts in the market place about their current views on important things and how they are positioned in the market, or their interpretation of important data, it’s always great to get a sense of what they are looking at and what they are looking forward to and positioned for, but that if it’s more detailed content that you are looking for in that sense, then the Bloomberg articles are probably going to add a lot more value in that sense compared to the shows.
I think one area where watching their show has benefitted me the most is when they have talked about topics in the market or asset classes in the market which I am not familiar with or don’t’ spend a lot of time on, I’ve often found myself doing additional research after hearing a market expert say something and then it turned out to be a really fruitful learning experience. But again, with access to a news service you are probably going to find a lot of that anyway inside the terminal coming over the wires.
So, I won’t say it’s necessarily something that I would say gives you a massive edge or advantage in the market in my personal opinion, I think you would probably gain a lot of value by following key market participants on the twitter accounts, and the best part about that is that it’s free.
But I do have Bloomberg up in the background most days, but I have it on mute a lot more than I’m actually listening to it, if that helps in any way.
Any other questions Shauna as always don’t hesitate to let us know.
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