I didn't like it when Gary hyped the stock, I wrote about it but I just didn't use his name. Now that Cramer has pointed out who I was talking about I'll say, I agree in part with Cramer.
But the real problem is a stupid public that will buy a stock without doing DD. Perhaps the whole system needs to be changed. This is not hard to figure out. It's like giving drugs to a junkie, what do think they will say, no?
I think a dollar limit would be helpful. Nobody can hype a stock under 10-15 bucks. That way Gary, would not of ever had talked about the investor trap he did.
RE: Reporting. I have said many times in my mind, CNBC's job is to report the news, not try to make it. When they bring up a stock and start giving a minute by minute, " XXXX now it is up 13, 15, 20 dollars a share, boy this is really moving", That's like saying to a junkie, "hey that guy is getting high, so is that guy, everybody is getting high but you". It is that bad with the way some people blindly buy stocks.
So who's fault is it? Let's say you are an adult, and you know nothing about guns. You don't know how they work, what a safety is, no clue on how to safely handle a gun. You see a gun, pick it up, start playing around with it and BOOM, you blow your head off. Who is at fault, the company that made the gun or you? CNBC and stocks are the gun is how I look at it. You have to know how to handle it.
909S, BLUE |
