/biz/ - Business & Finance

>>49304317
oh no, bitcoin is back to where it was one week ago, the apocalypse is here

>>17050793
>>17050984
>>17051034
>>17051303
>>17051354
>>17051408
https://www.bloomberg.com/news/articles/2016-04-29/unmasking-the-men-behind-zero-hedge-wall-street-s-renegade-blog

Since being founded in the depths of the financial crisis, Zero Hedge has grown from a blog to an Internet powerhouse. Often distrustful of the “establishment” and almost always bearish, it's known for a pessimistic world view. Posts entitled “Stocks Are In a Far More Precarious State Than Was Ever Truly Believed Possible” and “America's Entitled (And Doomed) Upper Middle Class” are not uncommon.

[...]

“It reminds me of a successful information operation where you mix in the propaganda stories along with other legitimate stories,” said Craig Pirrong, finance professor at the University of Houston. “There are some interesting things on it, and then there are the crazy things.”

[...]

Despite holding itself out as a town crier for market angst, transcripts from Zero Hedge internal chat sessions provided by Lokey reveal a focus on Web traffic by the Durdens. Headlines are debated and a relentless publishing schedule maintained to keep readers sated. Lokey said the emphasis on profit—and what he considered political bias at the site—motivated him to quit.

He pointed to the wealth of the Durdens as a factor. Ivandjiiski has a multimillion-dollar mansion in Mahwah, N.J., and Backshall lives in a plush San Francisco suburb—not exactly reflections of Pitt's anticapitalist icon. “What you are reading at Zero Hedge is nonsense. And you shouldn’t support it,” Lokey wrote in an e-mail. “Two guys who live a lifestyle you only dream of are pretending to speak for you.”

Lokey adds: “Durden lives in a castle. If you’ve seen Fight Club, you know how ironic that is.”