Any traders out there who want to improve the quality of their lives?
PUT CNBC ON MUTE.
I'm not joking. How did we arrive at this place?
A guy named Tom, who (1) doesn't seem to know much about anything, and (2) lends his ear to a few groups with vested interests, has -- in the world's largest markets -- a huge negative impact on investor and consumer sentiment.
There is entirely too much time spent with prediction, and too little spent with reporting. When there is reporting, it isn't accurate...... the biotech sector hasn't come back? Bull!
Before any CNBC representative opens their mouth again re. the sector and ^BTK, it is their obligation to know what the index actually represents.
Tommy et al...... many solidly respected biotechs are >80% off of year 2000 highs. Amgen hasn't corrected that sharply. They're expecting FDA review this year on several new products and indications, and they're doing great with their existing products -- MEDICINES, that are relatively recession-proof. Amazing, huh??
Engage brain before tongue. Better yet, engage brain before lending ear.
Fact..... gobs of money flowed into the sector last year, and the collective number of new drugs moving through the pipes is stunning. Why the hell SHOULD the sector correct more than it has? Tommy...... ever thought about asking your sources for any logic, apart from "the dotcom bubble popped, so biotech must be next".
BETTER YET, FIND ANOTHER SOURCE FOR FINANCIAL INFORMATION.
The time has come.... CNBC is begging for efficient competition. The old professional touch is gone. |
