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Pastimes : CNBC -- critique.
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To: Thomas G. Busillo who wrote (2068)12/15/1998 8:43:00 AM
From: Mark Marcellus   of 17683
 
Seems to me that CNBC should do a better job of spelling out the ground rules to Squawk Box guests. Something like:

1) It is perfectly okay to come on and tout a stock for which your firm holds a massive inventory, and/or from which your firm hopes to get underwriting business in the future. If you do hold a position however, you are expected to discreetly acknowledge it if Mark Haines remembers to ask (don't expect to be asked by anyone else).

2) Under no circumstances say anything that might provoke individual investors to short a stock. Quietly downplaying a company's prospects or suggesting that "professionals" are short is okay, but don't expect to be invited on as often.

3) If you are Herb Greenburg, rule 2 does not apply because no one takes you seriously anyway, and the only shorts you talk about are ones where the "professionals" are already taking a beating. Just remember to giggle a lot so everyone knows you're just kidding.

Hope this helps ;-).

Mark
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