From Jeff Jarvis “The half-life of news“,
“At a Yale conference a week ago, Thomson Reuters CEO Tom Glocer talked about the life cycle of the value of news in his business.
When a piece of financial news come out, it is at its most valuable for a very short time, he said. I asked him later how long that is. “Milliseconds,” he replied. Milliseconds. That’s as long as a computerized trader has to take advantage of news before the market knows it, before the news is knowledge and is thus commodified and loses its unique and timely value.”