By now, you have seen (or heard of) the huge spread on Zero Hedge in New York Magazine.  They also had some nice things to say about yours truly.

From the article, here are the other members of Wall Street’s Digital Underground:

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Illustrations by Matthew Woodson

The Amiable Skeptic

Barry Ritholtz was a pioneer when he launched the Big Picture in 2003 using the beta version of blogging software, Word Press. He’s a levelheaded bear with a knack for seeing through the statistical fog of economic data, and wrote a well-received book, Bailout Nation.

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The Cranky Bull

John Hempton of Bronte Capital covers the ins and outs of Wall Street and Washington—from Australia. A professional money manager, he started out bearish but went bullish last spring, prompting the ridicule of his blogging cousins, whom he dismisses as “perma-bears.”

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The Crisis Queen

Naked Capitalism’s Yves Smith had worked at Goldman Sachs before she started blogging in 2006, distinguishing herself with a facility for deconstructing complicated economics. She is writing a book called Econned, about the flawed ideas that led to the crash.

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The Equal-Opportunity Debunker

Felix Salmon had a stint blogging for famously bearish NYU economist Nouriel Roubini before he moved to Reuters. A serial skeptic of skeptics, he famously launched an assult on Ben Stein’s conflicts of interest as a columnist for the Times, which led to Stein’s departure.

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The Money Gossip

Bess Levin’s posts at Dealbreaker, the de facto “Page Six” of Wall Street, are as much about snark as finance, but her devoted following inside mainstream Wall Street firms has enabled her to beat The Wall Street Journal on a story or two.

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Source:
The Dow Zero Insurgency
Joe Hagan
New York Magazine, Sep 27, 2009

http://nymag.com/guides/money/2009/59457/

Category: Media, Weblogs

Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data and lack of respect for scientific knowledge. Be sure to create straw men and argue against things I have neither said nor implied. If you could repeat previously discredited memes or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.

22 Responses to “Wall Street’s Digital Underground”

  1. franklin420d says:

    Mr. Ritholtz from her picture this Bess Levins looks hot, you think you could set me up on a date with her?

    Thanks.

    ~~~

    BR: I had a drink with her some time ago — very sharp mind.

  2. Thor says:

    After reading the article, I wouldn’t say it’s very flattering. Not in the least. Is that just me?

  3. call me ahab says:

    New York Magazine – good article- i think there is much to the “conspiracy” angle that attracts many people- including myself-because there is the liklihood that collusion is occurring between the USG, Fed and the market makers-

    desperation sometimes requires the old rule book to be thrown out the window

  4. VennData says:

    “Insightful Data-analyzer”

  5. Scott Frew says:

    Barry–

    You’re looking good, man. Have you lost weight, or is that just the familiar phenomenon whereby magazine sketches make people look thinner?

  6. HEHEHE says:

    How come no Mish Shedlock on the list? He’s one of the best bloggers on the net. The entire gang at Minyanville. Karl Denninger is pretty good too.

    Also having read the article it comes across as a hatchet job more than anything else. The entire piece is written from the viewpoint that breaking up the big banks is some sort of crazy idea?!? Or that they aren’t the one’s calling the shots in D.C.? They claim Zero Hedge readers are mad the government has caused them to lose money in the stock market. Well if you were short an automaker, bank or financial service firm the past two years the government has done everything they can to make you lose money. They’ve taken junk off these connected companies books, changed accounting rules to delay their losses, and when all else failed, flat out bailed them out.

    What world is the author from? Where has he been the past five years???

    I also wonder how much of an influence having Bruce Wasserstein as an owner of NY Mag and Jim Cramer as a contributor has on the slant of the story. Undoubtedly as Chairman of Lazard the last thing Wasserstein wants is anybody questioning what has been going on behind the curtain in the land of OZ known as the US Financial Markets. Moreover that Cramer dolt is a mouthpiece for the status quo if there ever was one. I’d rather get information from a conspiratorial website than that moron.

  7. Thor says:

    Harry – ugh. No. +10 points for listing Krugman, he makes a good case but many more economists think he’s dead wrong. Not just the doom and gloom crowd. -100 points for the rest of your post, it looks as if (once again) you just pulled it out of your butt.

    “Regarding jobs near term: Now that the recession is over the people who are employed have a lot more buying power. We saw this happen at the end of the Depression and unemployment was much higher. This fueled the economic rebound”

    Not true – how do we have more buying power? No we didn’t see it at the end of the depression. We had a world war at the end of the depression and goods were rationed. They dumped their money into war bonds (that’s how we paid for the war), not goods and services.

    “Many economists are expecting a boom in the growth of smaller companies in biotech and stem cell technology with the US being a leader.”

    Many economists like who? what kind of “boom” 17 million jobs kind of boom? 10 points for you if you can figure out where that 17 million number comes from.

    “Economists see a wave of technology consumption that has created tremendous pent up demand.”

    Again – who? list your sources.

  8. beaufou says:

    Maybe I’m wrong but I think the article is a little snotty.
    I can understand a journalist not giving too much credit to bloggers (I don’t read Zero Hedge), but he has to respect the fact that bloggers such as BR are far more familiar with their subject than he is.
    Bloggers also have a lot more editorial freedom than regulars in the printed press, which can be very frustrating I’m sure.
    Still, if we are to talk about conspiracy and being a lying fringe, I’d be happy to deliver tons of conspiracy theory printed all over the US about a certain country having weapons of mass destruction.
    The fact that bloggers are popular is also a consequence of piss poor printed press reporting and investigating.
    Let them have cake.

    And congratulations BR.

  9. Pete from CA says:

    The article was about as flattering as one can realistically be when it comes to Zero Hedge… Kinda sad that they devoted 6 pages to ZH and only 1 to the others combined.

    @Harry

    Hmmm, “wave of technology consumption”, I like the sound of that! You can’t go wrong with technology, can you? The only question is what kind of technology, who will develop it, and who will have the money to consume it? Well, I guess that’s three questions…

    Even if US companies develop a disproportionately large percentage of these hot new technologies, why would that create a large number of jobs in the US and not in India, China, etc?

  10. Thor says:

    “The only question is what kind of technology. . .”

    Plastics

  11. Winston Munn says:

    Digital underground – what are you guys, the financial press equivalent to Country Joe and the Fish?

    And it’s one, two, three
    What are we writin’ for?
    No one gives a goddamn
    About bailin’ out Uncle Sam…

    and it’s five, six, seven
    open up the Federal-gate
    There ain’t no use to wonder why
    Whoopee! we all have to buy

  12. investorinpa says:

    Felix Salmon has the most flattering write up of all time….getting all the credit for Ben Stein getting canned!

  13. bobmitchell says:

    BR- that makes y0u humpty, he can’t be australian, and felix is out…

    Ever get down in a Burger king bathroom?

    http://www.youtube.com/watch?v=cj9_yW8tZxs

  14. Marcus Aurelius says:

    Pete from CA Says:

    @Harry

    Hmmm, “wave of technology consumption”, I like the sound of that! You can’t go wrong with technology, can you? The only question is what kind of technology, who will develop it, and who will have the money to consume it? Well, I guess that’s three questions…

    Even if US companies develop a disproportionately large percentage of these hot new technologies, why would that create a large number of jobs in the US and not in India, China, etc?
    ___________

    Pete.

    It’s absolutely unfair that you use logic and real-world scenarios. OTOH, I’m not sure being gizmocentric is all it’s cracked up to be.

  15. contrabandista13 says:

    Joe Hagan is a total douche….

    I’m cool… I’m soooo cool and Wall Street hip and so with it…….

    Barry:

    I hate to rain on your parade, however, as my bro, a notorious club owner used to say, “the minute Trump, Madona or Hilton show up at my club, I know it’s time to sell….” Don’t let yourself get sucked in… I was being charitable when I called Joe Hagan a douche……

    Ciao,

    Econolicious

  16. karen says:

    Oh, my, I feel as thought I am witnessing blob chaos in these comments.. please people, is it:

    If you can keep your head when all about you Are losing theirs.. if you can trust yourself when all men doubt you
    If you can talk with crowds and keep your virtue, Or walk with Kings nor lose the common touch, – Rudyard Kipling

    or is it:

    If you can keep your head when all about are losing theirs, it’s just possible you haven’t grasped the situation.
    - Jean Kerr

  17. karen says:

    Blob chaos.. I’m sure the discredit machine is on maximum..

  18. Thor says:

    Mistress – I know, I know. I keep telling myself I’m going to stop and just ignore it from now on, there’s really no point. As you can see, there are unfortunately a number of us who have a hard time keeping our mouths shut.

    Boys will be boys :-)

  19. godly says:

    Thats cool guys….
    I am quite inspired by your blog and wanted to build somethign similar but more focussed to emerging markets. Thats the aim at Investing contrarian. Sugegstions and help will be greatly appreciated.

    Thanks
    Fresbee
    GA Alpha Fund Manager

  20. HarryWanger says:

    HopeImWrong and NiceCritical: I promised I would get back to you today and post on the most current stream. I also posted for you on the old one as well.

    HopeImWrong and NiceCritical: I have a bit of time to address some of your questions regarding my optimistic outlook. First, lets start with the US debt that seems to scare the crap out of everyone. Here’s the reality from Paul Krugman:

    “But what about all that debt we’re incurring? That’s a bad thing, but it’s important to have some perspective. Economists normally assess the sustainability of debt by looking at the ratio of debt to G.D.P. And while $9 trillion is a huge sum, we also have a huge economy, which means that things aren’t as scary as you might think.

    Here’s one way to look at it: We’re looking at a rise in the debt/G.D.P. ratio of about 40 percentage points. The real interest on that additional debt (you want to subtract off inflation) will probably be around 1 percent of G.D.P., or 5 percent of federal revenue. That doesn’t sound like an overwhelming burden.

    Now, this assumes that the U.S. government’s credit will remain good so that it’s able to borrow at relatively low interest rates. So far, that’s still true. Despite the prospect of big deficits, the government is able to borrow money long term at an interest rate of less than 3.5 percent, which is low by historical standards. People making bets with real money don’t seem to be worried about U.S. solvency.

    Even the Fed Reserve Bank states: higher productivity or just stronger productivity than our trading partners will allow us to pay back debt without sacrificing today’s consumption. We’re seeing signs of that productivity shift now.

    Regarding jobs near term: Now that the recession is over the people who are employed have a lot more buying power. We saw this happen at the end of the Depression and unemployment was much higher. This fueled the economic rebound.

    Longer term job growth will come from infrastructure development with money scheduled for projects throughout 2010. And, also of note, many private projects have been placed on hold, not scrapped. As we see improvement in the next few months, many of these large projects will resume.

    Many economists are expecting a boom in the growth of smaller companies in biotech and stem cell technology with the US being a leader.

    Economists see a wave of technology consumption that has created tremendous pent up demand. Again, as the economies improve this will create the need for more jobs. And not just a few but large numbers of hiring.

    Green technology companies are springing up all over the US. These companies are growing rapidly. As our dependency on oil wanes, we will already be in the position in this country to lead the world in new energy. The potential job creation in this arena is enormous.

    Sorry for the long post but a lot to say.

  21. WaveCatcher says:

    I checked out those other blogs but non of them are worth even a bookmark to me. I guess I’m too ADD to slog through all the deep analysis. TBP still gets my vote for greatest delivery of useful content.

  22. rustum says:

    TBP is very good at analyzing the data.