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Pastimes : CNBC -- critique.
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To: Crystal ball who wrote (7622)3/29/2001 4:48:16 PM
From: Ally  Read Replies (1) of 17683
 
Agree with all the points you made concerning ANALysts. The problem is CNBC needs to fill in air time. So they say yes when analysts call them to tout their goods. ANALYsts are trying to recover their reputations after recommending those dot.com stocks using their fuzzy "matrix" valuation maths. How do they save face? By trying to be super conservative and tripping over themselves downgrading stocks. Faber has time and time again shown how ridiculous ANALYsts can be... giving them many penguin awards for downgrading already beaten up stocks which they recommended as "strong buy" when the same stock was trading 3 times higher. Nothing has changed except the economy slowing down a bit. How did the ANALYsts figure that companies can grow 60% to 100% a year and maintain the pace? Now that growth is around 15%, same ANALYsts figure the stocks which they had strong buys 6 months ago are now worth 70% less than before. And yes, CNBC should be asking the tough questions and asking for accountability from touting analysts. But then, if they do that, analysts may fear appearing on CNBC. Which comes first for CNBC, care for viewers, or care for content providers (i.e. those ANAL...)? It's obvious... that's why we can't expect CNBC asking for more accountability.

Cramer joining CNBC will be an interesting development to watch. He'll fix the ANAL_imposters, hopefully.
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