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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: DebtBomb who wrote (138528)8/1/2008 11:09:40 PM
From: James HuttonRead Replies (3) of 306849
 
You guys are all too hard on CNBC. It's the best alternative unless you pay for Bloomberg (I've never watched Fox), and yeah, much of the commentary is inane and insipid. For example, I heard Michelle Caruso-whoever be proud of herself for explaining technical resistance and support, but mix them up. The next day she got it right and looked good while she was doing it. Anyway, most people here are smart enough to ignore that or cut through it. I look at it as the best available and keep it on mute most of the day, unless I see a noteworthy guest coming on (many of whom you don't see anywhere else in a timely way). In addition, if people don't like it because they think it adversely affects a bearish portfolio, I think the days are long gone when CNBC guest appearances move a stock significantly. I don't even think Cramer's ramblings move stock prices for more than a few minutes anymore.

Think of the alternative: no one would sponsor a business show that featured all of the guests that regularly appear on this thread. That doesn't sell. For example, a local radio talk show had a guest on a few weeks ago who laid out the Peter Schiff scenario, which totally turned the hosts off. They commented that the guy was probably going to go home and kick the kids and that they didn't want to have him on again. People really want to be blindly optimistic when it comes to their money, and CNBC gives them what they want. No one said they have to be right or wrong.
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