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Pastimes : CNBC -- critique. -- Ignore unavailable to you. Want to Upgrade?

To: Zardoz who wrote (3610)	8/27/1999 10:16:00 AM
From: Gary M. Reed	Read Replies (1) \| Respond to of 17683

Hutch, I did read what you said, the first time. As far as your comment, "CNBC has participated in rumor spreading, second-rate innuendo" (BTW, I took the liberty of correcting your spelling errors when I used your quote), yes, they do report on rumors that are floating around the market. We have two differing points of view on this matter. Living in New Orleans, it is quite unlikely that I am in "the secret circle" of traders amongst who these rumors are being circulated. If I have a big position in XYZ, and it has gotten spanked in the last 2 days on no news, CNBC would be doing me a great service by reporting these rumors about XYZ that they are hearing. I can then take those rumors and make an informed decision whether to stick around, buy more, or get the hell out. As long as they don't represent the rumors as gospel truth (and that is a very important distinction), reporting on the rumors is relevant to their job of reporting on financial news. The only thing I think they could do different is, when they report on a rumor that is moving a market, and that rumor turns out to be 100% wrong, I would like it if they sought out the source of the false rumor and fingered the source, and reported the rumormongerer as someone simply spreading crap for their own personal gain. In fact, the SEC should do the same thing, but they never do...wonder why, but that is a whole new topic in and unto itself. Hutch, believe me Friend, I am here to help you. I have a solution for your dilemma. If you don't want any humor or entertainment with your financial news, just plain matter-of-fact reporting, I have your solution: Bloomberg TV. I watch Bloomberg quite a bit also...pros and cons vs. CNBC...pros: the coverage of financial news is much more broader ranged than CNBC. Cons: very dry and the depth of the coverage is weak--lots of headlines but very little analysis. Go to Circuit City, plunk down a buck-fifty for a DirecTV dish and you can get Bloomberg TV 24/7. A good investment, because you also get CNNfn, which is also useful. A few points of information: 1.) do NOT get suckered into paying another 50 bucks for the installation kit (yes, the hook is still in my mouth...all the $50 buys you is some coax cable you can buy for 1/5th of the price at RadioShack); 2.) Have a pretty powerful Craftsman cordless drill at your disposal...the sales reps at Circuit City make the installation sound like a piece of cake, but it's impossible without a good cordless drill (again, I speak from experience...I was at Sears an hour after the installation began). As far as whether calling you a clown was deserved or not, I guess that is all in the eye of the beholder. Have a great weekend.