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To: BWAC who wrote (7139)	1/31/2001 9:50:17 PM
From: Bob Kim	Respond to of 17683

But hey, what's the point in accuracy. The CBS story could have used some help in this category.

To: BWAC who wrote (7139)	2/1/2001 3:21:40 PM
From: Michael Grosz	Respond to of 17683

I understand your point. In the era of the 24 hour news cycle too much emphasis is put on being first, and not enough on being right. But we put CNBC (and other financial journalism outlets) in a box if we expect them to deliver "insightful" analysis. Who's to say what is insightful? Joe Battapaglia was insightful as hell up until March 2000, at which point Fleckenstein finally became insightful. The bottom line (which I think we all can agree with) is that CNBC is more concerned with trying to get viewers than trying to get viewers rich. It is ironic. If any of the so-called professionals REALLY knew what the market was going to do, they wouldn't have to get on CNBC and tell everyone. They could create a nice little nest egg and retire. They only make money by trying to get people to keep listening to them ("this stock is going up, unless something changes, in which case it could go down.") I heard a funny story about "knowledge" brokers who give out advice on sporting events (which team to bet on, etc). Each week they give out one free "sure thing". Half the people are told to bet on one team, the other half are told to bet on the other team. Either way, half of the people win and assume that the "experts" know what they are talking about, and will pay for the next pick. Sound familiar?