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Pastimes : CNBC -- critique.
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To: capitalistbeatnik who started this subject1/17/2001 9:24:12 PM
From: t2   of 17683
 
My criticism of CNBC reporting last fall. I hated how David Faber would just take the comments of one analyst, Paul Sagawa of Sanford Bernstein and stated there is some big spending slowdown. Kept saying it also extended to Optical Networking.
I complained then how he was not listening to companies such as AMCC, VTSS or JDSU who provide the components to companies like NT, CIEN.

He kept taking comments from one analyst, Sagawa, and pushing this on CNBC's audience. There was absolutely no balance and they just ignored the comments coming out of the companies themselves.

It just too bad that reporting was so one sided on this issue. Instead of being a mouthpiece for Sagawa, he should have contacted companies like JDSU, NT, AMCC etc.. for comments or at the very least provided a balanced view with comments from those bullish on optical.
Instead he takes the opinions of an analyst who had been pushing Lucent (suggesting buys on the stocks) from the 70s all the way down to 20s. I think he still has his buy rating on it. At the very least Faber should have been listened to an analyst with a little more credibility.

It is just too bad CNBC followed this approach. When they kept repeating the slowdown with the extension to optical, investors started believing them--sort of like brainwashing. Did not explain that money was shifted from older technology to new optical systems by the carriers. That point would have been made by the companies themselves but did not get aired in Faber's reporting.

Should have also pointed out that carriers do this at budgetting times anyways.

I do notice that he is trying to be more balanced now.
I guess he is learning not to put too much faith in one analyst's opinion.

It is so odd that despite the general slowdown, the optical business is still booming. Unbelievable!
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