To me, it’s simply amazing that masses of investors tune into financial news shows, like CNBC, and actually take the offered information as credible advice.
It’s pretty sad that serious money matters are being marketed purely based on entertainment value and not on the basis of what might really make sense in the current market environment.
The bias in these shows towards “there has to be something we can buy right now” is obvious despite that fact that a wise investment position in the midst of the worst bear market in history would be in money market on the sidelines.
Funnyman Jon Stewart took a shot at CNBC in the following video clip, which is very funny but also spot on. Enjoy it.