Financial Journalism

1
Financial Journalism

• Overview
• Feb 3, 2001

2
Course Structure

• Lectures are focused on core skills
• Critiques Each week, two students will select
  one story with versions presented by THREE
  different papers and lead discussion in class.
• Short-writing exercise
• Guest speakers

3
Grading

• Weekly short writing exercises (40)
• Two quizzes (20)
• One 1,500-word business feature in publishable
  form (40)

4
Financial Journalism

• Understanding the subject you are writing about
• Knowing how to ask the right questions
• Recognizing newsworthy answers
• Writing in a way that readers without specialized
  knowledge will understand

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Why Financial Journalism

• Democratization of the financial markets
• More people invest in the mkts
• Proliferation of investment choices
• Fascination with new wealth, instant fortune
• IT revolution information-distribution power --
  accessibility, customizability and immediacy

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Dont Forget

• Basic journalistic skills sets accuracy,
  accountability, fairness
• Ethical standards

7
New Financial Journalism

• More demanding audience
• User-friendly
• Higher standard on Relevance, Timeliness,
  Context, Analysis
• Information overload -- needs branding and
  product differentiation to win reader loyalty

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Responsibility

• Write for your readers
• Beware of cheerleading
• Skepticism -- When things sound too good to be
  true, its most likely to be untrue
• Understand peoples motives and constraints they
  are under

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Risk

• Risk and return on investment
• Understand and properly explain Risk

10
Nuts and Bolts

• Research skills using data base, published
  records, talking to sources, etc.
• Explanatory journalism
• Forward spin

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Types of business stories

• Hard news company announcements, earnings
  reports, strikes, accidents, etc.
• Follow-ups
• Backgrounders why it happens, how it happens
• Profiles
• Trends and analysis

12
Business stories (cond)

• Tips for investing wisely and avoiding frauds
• Corruption -- Holding the government and business
  accountable

13
Working with Sources

• Your story is only as good as your sources
• Company officials
• Analysts
• Academic experts
• Former employees
• Labor leaders
• Competitors