Alan Mutter posts on an example of a successful entrepreneurial journalist: Michelle Leder set up her website Footnoted.org in 2003 from her home in New York state.
Business journalist Leder’s site is filled with leads and information gleaned from mining financial disclosures that publicly held companies in the US are required to file with the Securities and Exchange Commission, explains Mutter.
While those turgid tidbits might bore ordinary mortals senseless, they represent valuable and actionable business intelligence that can help traders make or avoid losing millions.
Leder built her business model on selling subscriptions for premium content to hedge-fund managers – not from online advertising – and this week investor advisory service Morningstar bought her business for an undisclosed sum.