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Pastimes : CNBC -- critique.
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To: Paul Chiu who wrote (14694)2/28/2006 6:10:31 PM
From: Kirk ©   of 17683
 
The answer is so obvious it is sad they don't see it.

Greenberg and Cramer don't have to be paid in currency... information is far more valuable so they can be on the right side of the market call for increased fame.

I've often thought the hedge funds are so smart that they tell people in the media ONLY what they want the public to know so they can then get in front of what their psychological models predict will happen.

None of it really bothers me because the whole business is BY DESIGN churning. If everyone bought index funds then searched for hot micro caps for the extra returns with a small percentage of their portfolios as I recommend my readers do, then most of Wall Street would be out of business. Instead, they slosh returns from sector to sector while taking their commissions. The market goes up 8% a year, they take 1 to 2% out and people are happy they beat money markets.

Kirk
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