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

To: tombet who wrote (4474)	1/30/2000 12:16:00 PM
From: Blue Snowshoe	Respond to of 17683

Tombet, I'm not sure what percentage make stock picks from CNBC but I know for fact there is the CNBC effect so I watch CNBC (an others) from before the sun comes up until an hour or two after the market closes. What an "expert" says on CNBC moves a market, even when it is total bull. Case in point (Pun intended): Just how many people are trapped in AOL right now? The Wall Street gurus knew nothing about internets and had to make themselves experts when internets became popular in the past few years. So they went on CNBC, CNNfn and everywhere else and said "you can't go wrong with AOL" as if they knew all about the internet. They were not talking about GNET (and still don't often), ICGE, CMGI until long after these stocks had made their moves. AOL was all you heard. The sheep who believed the self-appointed internet experts got killed. AOL was about all they could say because they had not been studying and trading in internets for the past several years. They missed the big pops in many internet companies because for years they told people not to invest in internets. PE, valuation, blah, blah blah. Then one day they woke up, David Faber stopped beating up internets everyday, Wall Street was taking notice that some people were making money investing in internets, serious money. Meanwhile a million times or more, AOL, AOL, AOL. AOL was in every internet report, "AOL is up 7/8ths", "AOL to buy in size". Maria reporting right next to the AOL station, give me a break. I had an avoid rating on AOL the whole time (after selling it at 160) so not everybody picks stocks from CNBC. To me AOL is no longer an internet company but a media company, so I wish CNBC would report about THCG, ICGE, DCLK, ELNK, YHOO, GNET, and similar companies as a group, internet stocks. Likewise report AOL with TimeWarner, CBS, Disney, etc., media companies. You see internet stocks move like internets and media companies will move like media companies so AOL should not be center of attention when CNBC talks about "internet" stocks. And let's have a report from in front of the GNET station one day and the MSFT station the next day. Enough of this AOL pumping. Is that REALLY the only place CNBC could have a camera? Tombet, I think you make a good point. CNBC is there for information not to design a portfolio from. Nothing beats one's own DD. Blue