[hosay123]

One of the early innovations of Bloomberg was to totally automate certain classes of news story, driven entirely by data. As you can see from spending any length of time browsing Google Finance, the number of this class of stories in the present day is absolutely huge, from a wide variety of 'news' outlets.

"Top movers! Miners down 0.00001% as fears grow over $calendar->getNextECBAnnouncement()"

What's more terrifying is that Google Finance even syndicates these articles, and that people trade off of them - "informed" traders, buying and selling based on articles that are quite literally generated from sampling noise

[JumpCrisscross]

Do you have a reference for this? As someone with a Bloomberg terminal I've found their wire service completely free of that kind of junk more typical of tech journalism, MarketWatch, or StockTwits.

[hosay123]

Bloomberg mentions it in his autobiography (Bloomberg by Bloomberg) while Taleb mentions encountering similar stories on his Bloomberg terminal in Fooled by Randomness.

[rubyrescue]

I know a lot of Bloomberg reporters and a bureau chief for a pretty big market and they definitely do not work this way. For starters, the people relying on the terminals (and paying a lot of money for them) are savvier than that.

[hosay123]

> certain classes of

As commented below, Bloomberg mentions it in his autobiography.