When it comes to seeking information about companies and the market, according to the just released 2012 ASX Share Ownership Study, Australian investors actively seek out information through a number of channels.
The number one source for advice and information for investors in 2012 was newspapers, with 43% of respondents saying they used this channel. In a close second place (at 41%) were annual reports and prospectuses; while the third most relied upon source was family and friends.
It probably seems like cold comfort to the newspaper companies, namely APN News and Media (ASX: APN), Fairfax Media (ASX: FXJ) and News Corp (ASX: NWS), that investors are still relying on their content for sourcing financial advice and information. However investors’ desire for business information has allowed The Australian Financial Review to construct a pay wall around its content. Of course pay walls haven’t been enough to prevent APN and Fairfax underperforming the S&P/ASX 200 Index (Index: ^AXJO) (ASX: XJO) by over 80% in the past five years.
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