Gold Coins, Emergency Food, & iPads

Posted on June 15, 2011

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I loved Josh Brown’s piece on Bloggers as the Conscience of Wall Street.

Is Wall Street heartless?  Soulless?  Has it become a no-man’s land for those who give a damn?  A cover-your-own-ass and just get paid type of story?

Yes, yes, yes and yes.  There are those who say it has always been that way but I know that it’s gotten worse.

He’s right… AND

The Next Crash Could Be a Lot Worse

The title was harmless enough. True even. It can always be worse. A lot worse. The email said, “tell me what you think.” with love, your awesomely cool client.  I made up the awesomely cool part, but he is.

The article actually was not terrible. Tinged? Sure. But the prose had a nice voice. Were things stretched? –It happens.

That’s not what bugs me.

It’s the link baiting (wiki). And on Seeking Alpha

Exhibit A:

Also, many of the big Wall Street banks are already laying off workers. In a previous article I wrote about the potential for Wall Street to go into “panic mode“, I noted that Goldman Sachs (GS), Bank of America (BAC), JPMorgan Chase (JPM) and Morgan Stanley (MS) are all laying people off or are considering staff cuts.

Now, I know— that if I click ‘panic mode’, I’m taken this anonymous blog.

Panic Mode is a ‘Top 10 Signs’ story… you know the drill. Spectacularly, sinfully delicious to our connection-seeking brain. Business Insider stuff (I kid). And of course, because all of the topics are relevant, the reader is supposed to grasp for it.

Now this particular client is meticulous. I was surprised he missed this. He probably didn’t click on the ‘panic mode’ link. But I know he went to the author’s profile. And he sounds impressive enough:

A graduate of the McIntire School of Commerce at the University of Virginia and has two law degrees from the University of Florida. He is an attorney that has worked for some of the largest and most prominent law firms in Washington D.C. and who now resides outside of Seattle, Washington. He is a very active blogger and is also a respected researcher, writer, speaker and activist. You can follow him on….His site, of course.

From whence the Seeking Alpha story came….

Exhibit B:

Look familiar? Want some Gold Coins? Water Filter? My dad falls for this stuff. That’s why people make a living doing it.

I have a friend who did this for a few years, living in Argentina. He’s back in the states now. He just wrapped up a short sale on his house. His business is booming now though — he’s teaching english using Skype. He’s a writer when he’s not skyping. He says it’s mundane work (the link-bait writing) but it keeps your mind sharp enough… He wrote about vacation places in Canada & Mt. Resorts (timeshares, I think). He was writing about the winter wonderland & all of the great events that were happening…. from Buenos Aires.

It’s hard work. I know the time that went into hyperlinking and hammering that stuff out. I commend the effort. In this case, I just hate that it’s sitting on a site about seeking alpha. It’s seems to me like it’s more about seeking Gold Coins, Silver Coins, Emergency Food, And iPads.

You know, the end of times stuff…

Posted in: banking