you know nothing about the tv/entertainment industry and even less about what makes compelling broadcastng
Not so fast...let's think about what you just said. CNBC's sister network, NBC, does a lot of sports programming. Okay, let's say a baseball hitter struck out the last 20 times he's been at bat. Would NBC interview that guy, asking him about the intricacies of being a great hitter? Of course not. If they had him on at all (which is doubtful), they'd ask him "what's wrong with you--you've struck out each of the last 20 times you've been at bat." BUT, CNBC takes guys who have (proverbially speaking) been striking out non-stop over the last 9 months, puts them on the air on a weekly basis (Eric Gustafson, for example), and treats them like they're the Ted Williams of Wall Street--NEVER ONCE bringing up the fact of how wrong they've been.
There are things about CNBC that I like a lot. Faber is a sharp reporter who's always digging up some good scoop and making solid analyses. Ted conducts interviews like a pro. Insana is never afraid to "tell it like it is" without any sugar coating. And I like Kernen's tongue-in-cheek humor, although sometimes he goes overboard.
But the way they treat some of the so-called gurus who've been consistently wrong is unreal. Tossing them softballs with kid gloves, it almost seems like they're afraid to call these clowns on the carpet. Everyone makes bad investment calls...it's inevitable. But when you've been consistently wrong over 2, 3, or 4 quarters, well...you probably don't deserve anymore airtime. "If you bought each of our next guest's picks over the last 12 months, you'd be down 55%...but listen up, because he's coming on next to tell you what you need to buy now." I mean, gimme a break.
Also, I just LOVE how, when anyone criticizes CNBC, clowns like yourself immediately equate it to "blaming your stock losses on CNBC." I'm one of CNBC's biggest critics, yet I can assure you, there aren't many CNBC guest analysts who could meet or exceed my performance in the last 12 months. People like us are just tired of seeing the same bozos paraded out time after time, consistently making lousy calls and yet CNBC would have you believe they are market sages. It's high time that many of these perma-repeat guests get axed or, at the very least, get put on the hot seat for their blown calls. Bill Meehan had a great idea: prior to any "interview," show the video tape of what that guest was saying on CNBC last March. If their commentary from a year ago proves to be embarrassing, then so be it. If these guys are so anxious to have their mug on CNBC, then dammit, be prepared to back it up. Anyone who was on CNBC last year, strongly advocating buying the sky-high multiple tech stocks has no business asking for primadonna treatment today. |
