(a copy of an email that i sent to CNBC today...it will be interesting to see how they respond...sent to Squawk@CNBC.com ; MarketWatch@CNBC.com ; PowerLunch@CNBC.com ; StreetSigns@CNBC.com ; MarketWrap@CNBC.com ; BizCenter@CNBC.com ; MarketWeek@CNBC.com)
CNBC,
Firstly, I'd like to commend CNBC on their efforts for more transparency when interviewing fund managers, analysts, and other assorted gurus. However, imo, asking these people if they have a position in the stock they are "recommending" is only the first step. I have a suggestion that will surely provide even more transparency: I think the next time that one of these guests appear on your show and wants to talk about a stock, that the CNBC interviewer should ask what their entry price is on the stock that they are "recommending" (asking how many shares they have is perhaps too personal, and maybe even irrelevant). But, by asking what their entry price is on say CSCO (currently just under $17), we will know before they even open their mouth where they are coming from, and what they are going to say! i.e. If they said "my average price on CSCO is $40", we'd already know in advance that they are speaking from desperation, and your viewers would see their "recommendation" with skepticism as hyping a bad call. On the hand, if they said "my average price on CSCO is $14, when I bot near the April low", then your viewers may then see the same recommendation as reinforcing a shrewd call. Conversely, if they were short the stock, knowing their entry would have the same value.
And lastly, though I am sure it would displease some CNBC guests, I think when bringing on people such as Joe Battapaglia, and Abby Joseph Cohen, etc, that a chart showing the various levels of the indices when they made their table-pounding calls to buy would be quite enlightening. Fortunately, I have not lost money on any of these calls, but unfortunately, many are likely to have their retirements severely effected.
Regards,
(a CNBC viewer) |
