Hacker News new | ask | show | jobs
by j2d2 5872 days ago
New Mogul was the first I've seen of this and was the best. I think New Mogul's success was also partly due to the intensity of the financial crisis and people's interest in understanding how it all works. Nickb vanished, unfortunately, and New Mogul eventually fell.

No site has been able to replicate the New Mogul community and I don't believe it's the UI's fault entirely, though New Mogul actually did a good job sprucing up the default look. I believe the intense interest along with communal enthusiasm just doesn't exist in that industry under normal circumstances. And certainly not enough for a shared information / aggregation system to prosper.

Consider the nature of the industry. Knowledge is power. If you're not all in a sinking ship together, why would you give up your competitive edge?
2 comments
newgarth 5872 days ago
Re: nature of the industry -- i think there is more sharing that goes on. People send each other emails all the time. On a macro level, this stuff is already out there and so you expect the FIRM to be executing on it. The bigger question is for an individual trader or analyst (or associate) are you up-to-date. So b-school classmates and friends from college help each other stay abreast of things, if nothing else as a safety net since it's always good to have friends at another building on the street.
link
hereandthere 5872 days ago
well said. and i think that's the point. a centralized forum of like-minded people would be an invaluable asset. just remains to be seen whether the average finance person is too short-sighted / in need of immediate gratification to contribute and make it what it should be.
link
hereandthere 5872 days ago
understand (and agree with) you're point re: secrecy and trading mentality, but doesn't that also underscore the need for a no-nonsense, reliable yet dynamic source of good information and perspectives? also, many people in finance are information gatherers, but can't act (for personal benefit) on that data.

innate habit of "consumption" rather than "contribution" may be difficult at first, but perhaps self-reinforcing if it gained a dedicated readership?

link