The NY Times reports on the new Fox Business Channel and notes how "sunny" it is compared with CNBC, which tries to evoke a harder-edged, trading-room vibe.
One would think that most serious people who are really interested in the markets want straight business news so they can make as well informed as possible, to make the most money. Then again, Rupert Murdoch and Roger Ailes have they can fool most Fox News viewers most of the time and make a lot of money in the process.
(It is alleged that Fox News viewers were much more likely to have key
misperceptions about the Iraq war, more likely to believe we found WMD or that
Iraq was behind 9-11, than viewers of other news programming.)
So it would be interesting to test this thesis and to track portfolios of FBC vs. CNBC viewers, to see how how well they do in the market. If FBC viewers are similarly misinformed about the state of the economy, they ought to lose money.