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#14
11-27-2007, 09:41 PM
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Re: CNBC
As OP pointed out, it's basically entertainment with propaganga mixed in. I watch these shows and read the WSJ the way a Russian living in the old Soviet Union would read the Pravda. It's not the news. It's the party line.
Last time I tuned in to CNBC, some guy was recommending Citibank at 35. The stock has since dropped to 30. 
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#15
11-28-2007, 01:19 AM
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Re: CNBC
[ QUOTE ]
Last time I tuned in to CNBC, some guy was recommending Citibank at 35. The stock has since dropped to 30. [/ QUOTE ] This is the same with all TV analysts. They make recos because that's what viewers want to watch. Anyone who trades using TV recommendations is a fish anyway. Even if it a good pick, it only involves about 5% of the trading decision. Some of my favourite TV analyst quotes: "I think it's a stock-pickers market" (isn't it always?) "I think the stock will outperform" (so, it might drop less than the index?) "I'm bullish on this stock going forward" (tomorrow? next week/year??) "It might be time to bank some profits" (why??? - do you know my trade objectives?) OK. That was fun, she was hot, but what do I do now? Pleeeease. STFU. Oh, wait...I can do something else other than watch TV.
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#19
11-28-2007, 03:50 AM
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Re: CNBC
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Maria Bartiromo & Erin Burnett get me every time. CNBC provides little information of substance, it's an entertainment station in the same way ESPN is. You have countless "experts" who once played the sport announcing what they think, when in fact they have very little in stake (aside from CEOs whose job it is to raise capital). [/ QUOTE ] Maria, ughh. Ugly, loud, and stupid. Erin, yumm. Rick Santelli is gold. I always want to hear what he has to say.
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