Janik Ole Wecks from the Institute for Finance and Accounting (IFA) was a guest on the knowledge programme “Impuls” on SWR Kultur. In the radio interview, now also available as a podcast, he explains whether and in what form so-called investment podcasts influence the behaviour of investors.
The background is a joint study by Janik Ole Wecks (University of Bremen) and Prof. Dr. Marten Laudi (Kühne Logistics University, Hamburg). Under the title “Do Podcasts Move the Stock Market?”, the two analysed more than 25,000 English-language podcast episodes and matched over 100,000 individual stock mentions against actual trading activity.
The central finding: investment podcasts move the market. For investors, however, they do not necessarily translate into higher returns. When stocks are discussed in podcasts with a large reach, trading volumes and price swings rise noticeably, especially among retail investors and on the day of release. Yet those who act on the recommendations from the podcasts do not necessarily achieve better returns than with a simple, broadly diversified investment strategy. Above all, the podcasts ensure that information already available is reflected in prices more quickly.
In addition to the conversation on SWR Kultur, the Frankfurter Allgemeine Zeitung (F.A.Z.) also picked up the study.
Listen and read more:
SWR Kultur “Impuls” (radio interview/podcast)
Working paper “Do Podcasts Move the Stock Market?” (Netspar, AP 2026-002)
F.A.Z. “Podcasts und Börse: Warum Anleger damit nicht gewinnen”
