Investor's Business Daily

Investor's Business Daily
TypeFinancial research
Owner(s)News Corp via Dow Jones & Company
Founder(s)William O'Neil
PresidentDan Shar
Founded1984; 40 years ago (1984) (as Investor's Daily)
HeadquartersLos Angeles, California
ISSN1061-2890
Websiteinvestors.com

Investor's Business Daily (IBD) is an American newspaper and website covering the stock market, international business, finance and economics. Founded in 1984 by William O'Neil as a print news publication, it is owned by News Corp and is headquartered in Los Angeles, California.[1] Holding a conservative political stance,[2][3][4] IBD provides news and analysis on stocks, mutual funds, exchange-traded funds, commodities, and other financial instruments aimed at individual investors and financial professionals. It also provides tools for financial literacy.[5] The publication focuses on The IBD Methodology, an investment strategy developed by founder William O'Neil.[6]

Every Monday in its weekly edition, the publication publishes the components of The IBD 50 Index, a list of 50 growth stocks that are most attractive based on earnings, stock price performance, and other criteria used in The IBD Methodology. It is the basis for an exchange-traded fund (ETF) called the Innovator IBD 50 ETF (Ticker: FFTY), which is also rebalanced weekly.

IBD Live includes a stock market discussion by professional stock traders via Zoom.

History

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Entrepreneur and stockbroker William O'Neil founded the newspaper in 1984 due to frustration with the lack of data about stocks in newspapers.[5]

In September 1991, the publication's name was changed from Investor's Daily to Investor's Business Daily.[1][7]

In 1994, ten years after its founding, IBD was ranked among the fastest-growing newspapers in the country.[8]

In 2001, after the September 11 attacks, revenue fell 20%-30%. At that time, paid circulation was approximately 313,000.[9]

In 2005, political cartoonist Michael Ramirez joined IBD. In 2008, Ramirez won his second Pulitzer Prize for editorial cartooning while at the company.[10]

In March 2016, the print newspaper became a weekly publication and the publication shifted its focus to daily digital operations, cutting 20 jobs. At that time, the website had 4 million visitors.[1][11][5][12]

During the 2016 United States presidential election, IBD conducted one of two polls that correctly predicted a victory by Donald Trump. Before the election, the poll had been dismissed as being an "outlying survey,"[13] but it was rated as one of the closest to the final result.[14]

In March 2019, the publication ended its opinion section.[15]

In May 2021, News Corp acquired the publication for $275 million, adding it to its Dow Jones & Company division. At that time it had 100,000 digital subscribers.[16][17]

IBD/TIPP polls

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TechnoMetrica Institute of Policy and Politics (TIPP), the polling arm of TechnoMetrica Market Intelligence, is IBD's exclusive polling partner delivering poll data via the IBD/TIPP collaboration between Investor's Business Daily and TechnoMetrica Institute of Policy and Politics.[18][19] TIPP polls have mixed reviews, some claiming that it is most accurate and some claiming that it has a right wing bias.[20][21]

Controversies

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Lawsuit claiming inadequate wages to telemarketers

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In March 2002, telemarketers who were compensated on the basis of a point system which rewarded them for selling longer subscriptions, winning daily contests, and meeting weekly sales goals sued the company for violations of the Fair Labor Standards Act of 1938.[22]

July 2009 error in editorial

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In July 2009, an editorial in the publication claimed that physicist Stephen Hawking "wouldn't have a chance in the U.K., where the [British] National Health Service (NHS) would say the life of this brilliant man, because of his physical handicaps, is essentially worthless."[23] Hawking was British, lived in the United Kingdom nearly all of his life, and received his medical care from the NHS. IBD later removed the editorial's reference to Hawking in its online version and appended an "Editor's Note" which said, "This version corrects the original editorial which implied that physicist Stephen Hawking, a professor at the University of Cambridge, did not live in the UK."[24][25] Hawking himself responded, "I wouldn't be here today if it were not for the NHS. I have received a large amount of high-quality treatment without which I would not have survived."[26][27][28]

References

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  1. ^ a b c Alpert, Lukas (March 4, 2016). "Investor's Business Daily Will Become a Weekly". The Wall Street Journal.
  2. ^ Atlas, John (2010). Seeds of Change: The Story of ACORN, America's Most Controversial Antipoverty Community Organizing Group. Vanderbilt University Press. p. 297. ISBN 9780826517050. In 2007, Investor's Business Daily, a conservative business newspaper, repeated more misrepresentations
  3. ^ Frantzich, Stephen E. (1996). The C-SPAN Revolution. University of Oklahoma Press. p. 321. ISBN 9780806128702. After years of frustration with what they perceived as the liberal commercial media, conservative sources gloated after the 1994 election. An editorial in Investor's Business Daily argued...
  4. ^ Wilson, John K. (2009). Barack Obama: This Improbable Quest. Routledge. p. 209. ISBN 9781594514760. The conservative Investor's Business Daily editorialized...
  5. ^ a b c Roush, Chris (March 4, 2016). "Investor's Business Daily to Become a Weekly, 20 News Jobs to be Cut". Talking Biz News.
  6. ^ Marder, Kevin (September 13, 2011). "Conversation With a Maverick Investor". MarketWatch.
  7. ^ "The nationally circulated business newspaper Investor's Daily". Los Angeles Times. September 10, 1991.
  8. ^ Krikorian, Greg (January 20, 1994). "Media: Financial Paper Closing In on Bottom Line". Los Angeles Times.
  9. ^ "NEWSPAPER---Investor's Business Daily Plans Expansion". Los Angeles Business Journal. October 8, 2001.
  10. ^ Pérez-Peña, Richard (April 7, 2008). "Washington Post Wins 6 Pulitzer Prizes". The New York Times.
  11. ^ Dool, Greg (March 7, 2016). "Investor's Business Daily Reduces Print Schedule". Folio.
  12. ^ Roush, Chris (May 9, 2016). "Explaining the Changes at Investor's Business Daily". Talking Biz News.
  13. ^ Flint, Joe; Alpert, Lukas (November 9, 2016). "How the Media's Election Predictions Badly Missed the Mark". The Wall Street Journal.
  14. ^ Sides, John (December 5, 2016). "Which was the most accurate national poll in the 2016 presidential election?". The Washington Post.
  15. ^ MCARDLE, THOMAS (March 4, 2019). "A Voice against Socialist Bullishness". National Review.
  16. ^ "News Corp Completes Acquisition of Investor's Business Daily". Business Wire. May 5, 2021.
  17. ^ Trachtenberg, Jeffrey A.; Kellaher, Colin (March 25, 2021). "News Corp to Buy Investor's Business Daily for $275 Million". The Wall Street Journal.
  18. ^ "About us". TIPP Poll. Retrieved 2022-08-29.
  19. ^ "A few words about us". TechnoMetrica Market Intelligence. Retrieved 2022-08-29.
  20. ^ "IBD/TIPP Retains Position as America's Most Accurate Pollster Amid Historic Election Battle". Bloomberg. 2020-11-10. Retrieved 2022-08-29.
  21. ^ Renka, Russell D. (2010-02-22). "The Good, the Bad, and the Ugly of Public Opinion Polls". Southeast Missouri State University. Retrieved 2022-08-29.
  22. ^ "HARRIS v. INVESTOR BUSINESS DAILY INC". FindLaw. 2006-03-29. Retrieved 2022-08-29.
  23. ^ Robertson, Lori (2009-08-13). "How to Not Prove a Point". FactCheck.org. Annenberg Public Policy Center. Retrieved 2022-08-29.
  24. ^ Metz, Cade (2009-08-12). "Obama health reform critics face inconvenient truth". The Register. Retrieved 2022-08-29.
  25. ^ Klein, Ezra (August 10, 2009). "How Stephen Hawking Proves That Investor's Business Daily's Editorial Page Tells Lies". The Washington Post. Archived from the original on September 25, 2009. Retrieved 2022-08-29.
  26. ^ McElroy, Damien (2009-08-12). "Stephen Hawking: I would not be alive without the NHS". The Daily Telegraph. Retrieved 2022-08-29.
  27. ^ Muir, Hugh (2009-08-11). "Who cares if Professor Stephen Hawking lives or dies? Actually, we all do". The Guardian. Retrieved 2022-08-29.
  28. ^ Sample, Ian (2018-03-14). "'I would not have survived': Stephen Hawking lived long life thanks to NHS". The Guardian. Retrieved 2022-08-29.
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