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Pastimes : CNBC -- critique.
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To: Ted David who wrote (8218)7/26/2001 12:27:50 PM
From: Canuck Dave  Read Replies (1) of 17683
 
Ted, let me give you two kudos.

1. For taking Bob Pisani to task over the "buyer's strike" nonsense. This euphemism is of course an adjunct of the "trillions waiting in the wings" mantra being spun by the bulls. Those trillions of household debt holding up the market are not mentioned nearly as often.

2. For pointing out how ludicrous a downgrade from "buy" to "long term accumulate" is. I know you're not alone in pointing out the self serving, and often cowardly behaviour of analysts, but they won't issue a sell rating and so neither should we.

Speaking of analysts, I like the suggestion that they should be forced to own the stocks they pick, making the moves AFTER the recommendations hit the airwaves. Furthermore, may I make a couple of other modest suggestions? If they return to the show after their previous picks have dropped more than 20% , they must appear in pleated skirts and pompoms (e.g., "We still love EXDS").

If they're down more than 40%, dress em in rags, starting with Cramer.

CD
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