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Pastimes : CNBC -- critique.
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To: Ron who wrote (7938)5/21/2001 4:30:36 PM
From: Toby Zidle  Read Replies (2) of 17683
 
Bashing Business Week is a conflict of interest for a news organization allied with Wall St. Journal? Yes, perhaps it is.

However, it's also good reporting. Business Week, Money, US News and World Report have notoriously bad timing when they feature anything about the stock market.

When Time and Newsweek have cover articles on the Bear Market, you can be confident that the market has just turned around or will do so imminently. When they featured Bill Gates's philanthropic gifts to charity, MSFT is about to take a big hit.

The only entities with worse timing than analyst up/downgrades are news magazines reporting on the market and on specific stocks. These stocks don't even come to the editors' attention until their price moves are 90% over. The magazines have fantastic correlations as contrarian indicators.

If Kernan wants to bash Business Week, let him. The stocks will favor Kernan's interpretations, not Business Week's.
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