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.
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Comments 5
CNBC – where the facts have Certifiably Not Been Checked and where old guys tune in to drool over the cleavage of their clueless female anchors. At least they look better than the guys even though their ‘reporting’ (aka reading a Teleprompter) is every bit as poor.
CNBC – where the street pumps garbage they cannot dump elsewhere, to the fools who watch this garbage.
Keep up the good work, Ulli.
Very funny, Tom…
Ulli…
CNBC is always bullish and David Tice is always bearish.
Like a stopped clock, they are right some times.
Jim Cramer has been shown over and over again to be hazardous to your wealth. His picks have consistently underperformed the S&P; 500.
I am sure that he means well, tries to help people, and is entertaining. But he has no more clairvoyance as to the direction of stocks prices than myself of anyone else.
Is this the same Jim Cramer we’re talking about?
G.H.