Advertisement
If you have a new account but are having problems posting or verifying your account, please email us on hello@boards.ie for help. Thanks :)
Hello all! Please ensure that you are posting a new thread or question in the appropriate forum. The Feedback forum is overwhelmed with questions that are having to be moved elsewhere. If you need help to verify your account contact hello@boards.ie

RTE use of stock brokers as financial analysts

Options
  • 16-05-2010 4:12pm
    #1
    RATM
    Closed Accounts Posts: 3,591 ✭✭✭


    I've just noticed a trend in RTE economic news reporting which seems to have accentuated somewhat since the departure of George Lee.

    It involves RTE doing reports from the offices of stockbrokers such as Davy/Goodbody whereby some representative of the company gives forth their views on the markets. The company gets in effect what is a free one minute advertisement as their company logo is always emblazoned on a background wall somewhere.

    Anyway I'm wondering what people think of this? I kinda feel that the brokers are not an independent party, they have a vested interest in the news they are reporting and so can easily obscure the real truth of matters if they so choose . And after all these were the same people who were advising clients to hold onto BOI/AIB shares even as the price was crashing through the floor- their vested interest meant that they tried to prop up the banks as much as possible by ensuring some people in the market took the financial hit by providing what turned out to be incorrect information.

    But now our national broadcaster is using them to report on finanacial news on an almost daily basis. Surely this must contravene the ideal of good journalism?

    Also I'm thinking of complaining of this practice to the BCC- do you feel its worth a go or would it just fall on deaf ears?


Comments

  • Options
    #2
    ei.sdraob
    Closed Accounts Posts: 9,376 ✭✭✭ei.sdraob


    Davy's

    yeh :rolleyes:

    i wouldn't trust them with a cent :D

    their track record (for ripping you off) and dismal investing history speaks volumes (same goes for BOI investments)


  • Options
    #3
    Colonel Sanders
    Closed Accounts Posts: 7,669 ✭✭✭Colonel Sanders


    It's nothing new. The likes of 'Comical' Austin Hughes & Brendan Burgess still make appearances on RTE providing 'expert' opinion despite a track record that proves they were incompetent or deliberately misleading throughout the last decade


  • Options
    #4
    anymore
    Closed Accounts Posts: 3,672 ✭✭✭anymore


    It is surprising this thread has so little response !
    Imagine if a prominent developer was being asked to give updates on the property market ?
    How amny peopole bought shares on the basis of brokers recommendations and are not nursing very large capital losses ?
    Does anyone in RTE think to put these questions to the broking companies ? Have RTE ?


  • Options
    #5
    Aidric
    Registered Users Posts: 13,589 ✭✭✭✭Aidric


    CNBC & Bloomberg use the same template. Davey Drumm & Robbie Kelleher bigging it up back in 2006.



  • Options
    #6
    eoinbn
    Registered Users Posts: 793 ✭✭✭eoinbn


    This is nothing new. We had a similar story during the housing boom where we had Dan McLaughlin, from BoI, telling us that house prices were going to keep rising so now was the time to get a mortgage.


  • Advertisement
  • Options
    #7
    who_ru
    Registered Users Posts: 2,033 ✭✭✭who_ru


    RTE and the concept of good journalism do not go together.

    RTE is an extension of Govt policy and dependent on state funding on the whole.

    i don't want to go into it but there are times when i watch prime time, and particularly miriam o callaghan and i think she deliberately avoids asking hard questions of Govt representatives.


  • Options
    #8
    thebman
    Closed Accounts Posts: 10,012 ✭✭✭✭thebman


    who_ru wrote: »
    RTE and the concept of good journalism do not go together.

    RTE is an extension of Govt policy and dependent on state funding on the whole.

    i don't want to go into it but there are times when i watch prime time, and particularly miriam o callaghan and i think she deliberately avoids asking hard questions of Govt representatives.

    I agree, I'm sick of paying massive fees for what is essentially a propaganda network. RTE should be privatised because political interference is stopping it achieving its goal of being unbiased.

    The amount of errors on the articles on their websites is outrageous too. You can also catch them editing articles if you subscribe to RSS feeds and it is amazing how often something gets reworded to be less likely to annoy any member of FF reading an hour or so after its initially posted up to the website.


  • Options
    #9
    silverharp
    Registered Users Posts: 17,849 ✭✭✭✭silverharp


    I think its cute that anyone would get their financial news from RTE. Once they get into opinion you are better off putting your fingers in your ear and going la-la-la.

    A belief in gender identity involves a level of faith as there is nothing tangible to prove its existence which, as something divorced from the physical body, is similar to the idea of a soul. - Colette Colfer



  • Options
    #10
    thebman
    Closed Accounts Posts: 10,012 ✭✭✭✭thebman


    silverharp wrote: »
    I think its cute that anyone would get their financial news from RTE. Once they get into opinion you are better off putting your fingers in your ear and going la-la-la.

    Its almost all opinion though bar the first line of what just happened.

    It generally goes:
    RTE Reporter: So the banks are fecked, what now?

    Supposed Expert: Well I think everything will be okay

    :P


Advertisement