<<<CNBC has become the de facto standard for quality financial news reporting...Bloomberg, CNN and just about anything else out there pales in comparison...>>>
That is like saying Busch is the de facto standard for beer because it outsells stuff like Sam Adams and Anchor Steam. You miss the whole point of Bloomberg TV, and well...your statement more or less confirmed your level of market sophistication, i.e. you watch CNBC for the entertainment and cheerleading as much as for the news.
I agree that Bloomberg is about as entertaining as watching paint dry, but the information flow is top notch...and the fact that CEOs and so-called analysts aren't tripping over themselves to get on Bloomberg is actually a positive, since--let's face it--most of those appearances are nothing more than fluff and guys wetting their finger and sticking it in the air. Question: aside from a few Squawk guests such as Seth Tobias and Rick Schottenfeld, how often do you see a market pundit/analyst on CNBC who, after you listen to what they have to say, provokes you to think or gives you a great investment idea that works? Ergo, who needs the fluff-spinners anyway--I don't want to listen to them spin their personal agenda, just give me the facts. That's what Bloomberg does.
Perhaps the biggest indictment of CNBC being a market cheerleader lately came from an earlier post on this thread, when someone supporting CNBC said, "interest rates will have zero effect on my portfolio, regardless of how high they raise them." Welcome to the CNBC Generation of investors. |
