or alternatively titled: “The blogification of the mainstream financial media.”
Time.com came out today with a their list of the 25 best financial blogs. One can argue about what constitutes a financial blog, but the list is made up of generally high quality blogs.* What struck was not the blogs mentioned in the list, but rather the nature of the blogs included therein.
By my count of the 25 blogs on the list only 8 are independent blogs. By that we means blogs that operate independently of a for-profit media organization. Of those blogs 3 are written by economics professors. One can argue whether that is a positive development or not, but it does reflect the reality of today’s financial blogosphere.
Given the nature of financial news (and opinion) it shouldn’t be all together surprising that the financial media has evolved into more of a 24/7, publish on-demand sort of ethos. Some media outlets embraced the blogosphere quicker than others, but now this approach is now mainstream.
We have written previously about the challenge in investment blogging, the economics involved and what it takes to reach the A-list. Given all that we should not be particularly surprised that the ‘best’ financial blogs have the financial wherewithal to put forth the sustained effort to create a more durable franchise.
One can hope that readers are willing to move beyond the ‘best blog’ lists and seek out blogs that are written either by amateurs or professionals that provide a unique and independent view on the markets and the economy. These bloggers may not be in it (today) for the money, but they do make the blogosphere much richer for their presence.
*Josh Brown at The Reformed Broker has a less charitable take on the list.