Hunks:
Message 15558384
Message 15561178
Why do you continue to highlight banking houses and their salespersons?
Why aren't you providing a service to your viewers, and pointing at the fund managers that fed the bubble and are now selling at or near (for quality biotechs) the bottom?
In general, I am a CNBC fan.
Joe Kernan's feel for biotech was good, February 2000. He continuously warned about inflated capitalizations, while expressing enthusiasm for the science. His relative lack of enthusiasm since then has been appropriate. Some others at CNBC? You should just plain stop commenting re. the sector. Many ad libs are absurd, and reflect ZERO feel for valuations or value.
CNBC highlighted the Oscar Gruss projections re. biotech, not long after they did their hack job on the sector in Barron's. On 11/3/2000, I started a portfolio to monitor the performance of their "buy" recommendations in the sector..........
Message 14724356
The portfolio has lost 55% of its value, and includes three of the sector's very worst picks.
So, basically, this is the situation that they found themselves in...... they were sponsoring and recommending crappy stocks. They couldn't withdraw the sponsorship, and yet they wanted to save face. So, they left the "buy" recommendations intact and dumped on the sector.
As a result of this and similar actions, many quality UNDER VALUED biotechs have taken an enormous hit. Do you know what you get when an UNDER VALUED company gets it's price cut in half? You get a SCREAMING BARGAIN.
CNBC plays into this whole scam. IMO, you hurt the majority of your viewers more than you help them.
Richard C. Harmon, Ph.D. |
