Cognito commenting in AM New York this morning on the rise of the financial punditocracy. Our position: consumers and investors need quality information now more than ever. This presents a fantastic opportunity for financial institutions to position themselves as calmer heads in a crisis, on-hand to offer advice and support to investors battered by the recent turbulence. Charles Schwab actually captured this approach quite well before the recent market meltdown. Unfortunately FIs are equal, if not disproportional, victims of the current uncertainty and have become gun-shy and introverted, leaving a communications vacuum which is currently filled by what I'm trademarking the 'professional pundit and prognostication industry'. This is bad news for FI's and even worse news for their clients.By the way: the irony (or hypocrisy) of blogging about being quoted in article complaining about the rise of financial pundits is not lost on me.
