Topic:Hedge fund trader dismisses blogging

Lex Van Dam a multi-million dollar trader recently dismissed blogging as being immaterial for those who would like to invest in the financial markets.
Mr Lex Van Dam is the man behind a BBC reality TV trading contest which commenced on 12 Th January 2009. He is offering each of the show’s eight participants six hundred and eighty two thousand pounds. The show will be aired for duration of three weeks.

The contestants were randomly picked from the public and underwent training for two weeks. They then went on to try and make money for two months last summer. At this time the world markets were being rocked by the world wide recession which affected multinationals like A.I.G. Contestant who made big losses were fired. They used up to date financial information from financial information giants namely Thomson Reuters and Bloomberg.

Mr Van Dam is of the opinion that the most relevant information can be obtained from many other sources and that there is too much information at our disposal. He also believes that financial web logs do not provide the most appropriate information for his requirements.

Mr Devin Wenig a Thomson Reuters senior executive is of a contrary opinion. According to him, bloggers apply regulations and views that are divergent and can this do things differently. He also said that numerous experts believe that both financial information firms and blogs offer appropriate information.

Mr Wenig however agreed that Reuter’s terminals provide outdated information compared to more current financial websites. He told Hedge Magazine that his company was endeavouring to make improvements on the way they present the information. He also believes that his firm’s future role will be that of furnishing context and organising market information.

With the show Million Dollar Traders Mr Van Dam intends to discourage traders as he believes that most of them should not be in the business.