Tag Archives: stock market

Lou Kerner: The First Wall Street Social Media Analyst

1 Apr

Josh Cheesman
@JoshCheesman

First off, when I was writing this title (the most straightforward one I could think of – it helps search engines find your material), my mind immediately went to the new film version of Marvel’s patriotic peacekeeper, which is titled Captain America: The First Avenger. I’m pretty sure though that no one is planning on making a blockbuster film called The Wall Street Social Media Analysts. Pretty sure.

But anyway, enough of hypothetical financial superhero crossovers, let’s get to the meat of the article. Last week, Private Equity Hub sent out a press release about Lou Kerner, who they say is – yep, you guessed it – the first Wall Street social media analyst. (The press release is blocked by a pay wall, but you can get the gist of it here.)

I’m going to interrupt the flow a bit here just to clear up an ambiguity – when I first read “Wall Street social media analyst”, I was unclear as to what it meant. Were they saying that Kerner was the first person on Wall Street to analyse social media companies, or that he was the first person to analyse Wall Street via social media? It turns out, they meant the former – Kerner speculates on the stock prices of Twitter and Facebook and whatnot. However, he does post financial comments on Twitter (@loukerner), so technically both are true.

But anyway, where was I? Oh yeah, so Lou is apparently the first social media analyst on Wall Street. I have to admit, this struck me as a bit odd. Why? Well…

It’s Been a Long Time Coming

I guess the thing that most took me by surprise is the fact this has only just happened. I mean, Facebook’s been around since 2004. I first became aware of it in my first year of university (late 2009), and by the end of the academic year it was massive in the UK (Compete.com had already ranked it the most popular social media website in the world in January 2009).

The point I’m making is, why did it take so long for the business world to notice that there might be something in this social media malarkey? That maybe it was something worth reporting on? That maybe there was some money to be made form it? I mean, Mark Zuckerberg (creator of Facebook, for those of you like me who couldn’t be bothered to see The Social Network) became the world’s youngest billionaire in 2008. You’d think that’s the kind of thing Wall Street would hear about.

The Social Network

I mean, I know I didn't see it, but come on, the film of his life won three Oscars.

And it’s not like Lou Kerner stumbled across this stuff over night. He definitely knew about Facebook – he offered to buy a stake in it when Zuckerberg was still at Harvard (Will Wall Street’s social media analyst roll eyes or turn heads?). He’s been talking to the press about the importance of social media since 2003. And yet when he said two years ago that Facebook would one day be worth $100bn he was laughed at.

It seems to me that the world of business – and business journalism – needs to get with the programme. (Or should that be program? Sorry, grammar joke.) I’m not saying social media is the be all and end all of economics, but Facebook is now worth $85bn. Lou Kerner is going to do very well for himself if he stays as Wall Street’s only social media analyst.

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