[Infowarrior] - Twitter Just Crushed Wall Street After The Cyprus Bailout

[Richard Forno]

Twitter Just Crushed Wall Street After The Cyprus Bailout

Joe Weisenthal	 | Mar. 17, 2013, 3:32 PM

This process has been happening for a long time, but for those in finance, the value of Twitter is increasingly equaling or surpassing the value of traditional sell-side research from Wall Street analysts.
This weekend's surprise bailout of Cyprus (surprise, because of the fact that depositors in Cypriot banks are seeing a 'one-off' tax) is a major moment in the evolution of financial information.

Because the news was so surprising, and because there's so little time between when the bailout was announced early Saturday morning, and when trading begins Sunday evening, there's been an aggressive thirst for information and analysis on what it all means.

But the sell-side has been fairly slow, and the Twittersphere has come to the rescue.


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And this is why Twitter is so killer.

In a very unusual crisis, the local knowledge was key. So it was essential to follow someone like Yiannis Mouzakis (to get the reaction from the Cyprus street) or Nick Malkouzis and Efthimia Efthimiou for the Greek perspective.

Bottom line: The value of Twitter (and Twitterers' blogs) have been growing for some time.

But on a weekend, with a high degree of local knowledge and nuance required, the best information out there was all free.


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