CNBC -- critique. Message Board

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Pastimes : CNBC -- critique.

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To: Ted David who wrote ()	3/6/2002 7:05:31 PM
From: Dale Baker	Read Replies (2) of 17683

Congrats on the candor and the looks that still get you compliments from the ladies. ;<) Two comments from recent days. I don't recall who was interviewing Dick Howy (sp?) from Dreyfus the other day, but Dick said ENE was proof that individuals don't know enough about companies to pick stocks, and should rely on fund managers. I just about fell out of my chair - funds were the major ENE holders, some with hundreds of millions in losses. The interviewer didn't drill Howy on that point, which was regrettable. Second, your regular WSJ guy Jonathan something told Bill Griffith that traders inevitably do worse than the markets because trading costs eat up their profits. In fact, a lot of traders do a lot better than the funds and the markets because they know to get out of falling blimps like ENE while the funds hang on and the beloved analysts only do the penguin Sell call at the bottom. Just a suggestion not to let too much conventional wisdom get by, even from your regular (and usually very enjoyable) guests. Maybe you should find some successful traders (and not just investment clubs) and interview them for a change, to see how they are managing in this crazy market. Keep up the good work.

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