Who benefits?
It's a question that's worth asking most of the time. When it comes to financial news in particular, you don't really need to look too far into the past to see where the question should have popped up.
Take the recent episode with GameStop's stock, for instance. On one side, you had retail investors engaging in collective action that resulted in the stock's price rising. On the other side, you had hedge funds losing millions over their short positions.
When trading platforms suspended the ability to purchase GameStop and other stocks, more than a few people cried foul, claiming they were doing it at the behest of those hedge funds to stop the bleeding.
It was a case where plenty of people were asking, "Who benefits?"
More recently, you have the recent decline of cryptocurrency prices.
Cryptos have always been volatile, up one day and down the next, but that volatility as of late has seemingly hinged on the words of a select few.
Tesla CEO Elon Musk's influence on Twitter has been credited with moving the needle on crypto prices after he said Bitcoin's $50,000-plus price "seems high." I'm not trying to dive into conspiracy theory territory and suggest that Musk is purposely manipulating crypto prices. Instead, I'm looking at this in the sense that financial news outlets are latching onto his every word for a few more clicks and a little more ad revenue.
They did the same when he tweeted about the GameStop stock situation.
Any place that deals in financial news likely has some version of the latest episode of the Elon Musk Show dominating its front page. It helps them hold the attention of the masses for just a little longer but doesn't really do much for you.
It's a trope that plays out across mainstream outlets again and again.
It's understandable that mainstream outlets are businesses beholden to their advertisers and shareholders. The problem often lies in the fact that those obligations sometimes go against doing what's best for customers like you.
News is a commodity, and it's no different when it comes to reporting financial news. That's why you'll often see things like Musk's latest tweet dominating headlines. It's why so many outlets kept putting out stories about the GameStop stock saga not only during, but well after. It's why a lot of financial writers hang onto every word coming from people like Warren Buffett and Bill Gates.
Those things grab attention, attention means more short-term revenue - even if it's of no real benefit to most readers - and the cycle continues. Too often, that pursuit of revenue comes at the expense of establishing relationships with new readers/viewers looking for something more than a quick distraction during downtime.
In short, many of these outlets benefit from getting a few eyes on their headlines, getting their ad money, and then being able to continue the practice indefinitely. They don't really worry about you specifically when there's someone right behind you that can fill your spot, and then someone behind them, and so on.
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Here at Outsider Club, we try to do things differently. We go well beyond surface-level headline news to find little-known stories that the mainstream ignores. Those are the true investment plays that make money and set readers like you up for success.
With bankers having taken over the world's finances, talking heads telling you that "everything is fine," and those in power doing whatever benefits them most, it's hard to know who to trust.
It's why we believe you need to do everything you can to take your finances into your own hands.
We try to cut through the noise to the benefit of the subscriber.
While mainstream talking heads go on about the same stories, we look for the kinds of life-changing financial plays that will keep you from having to rely on them.
The stories that no one is paying attention to are often the ones that are most worth talking about.
Just as one example related to the pandemic, while you're seeing countless headlines about COVID variants and the latest sound bite from Dr. Fauci, Jason Simpkins uncovered a technology that's been in use to effectively help fight the pandemic for months.
You wouldn't think something like this existed, since it never comes up among the typical cast of finance pundits. But the company behind it has taken off over the past year and is poised to continue doing so.
We have the details that can help you get in on this play. It's just one of the many little-known stories we cover here at Outsider Club to help investors like you where other outlets have failed.
The system isn't set up for you to succeed, so it's time for you to do what benefits you.
Keep your eyes open,
Ryan StancilContributing Editor, Outsider Club
Ryan is an associate editor and regular contributor to Outsider Club. Since 2014, his articles have offered commentary on technology and geopolitics to help readers make sense of the constantly changing landscape and how it affects their investments.