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

To: jopawa who wrote (1628)	9/4/1998 12:31:00 PM
From: Thomas G. Busillo	Respond to of 17683

John, the "best" of CNBC's "cannon fodder specials" has got to be CATP. They made a big stink a while ago about DLJ reiterating its "top pick" rating on the stock, and yet they conveniently forget to mention that the analyst who started it as a "top pick" did so around 44-45 and (hang on, this is going to come as a shock) the day before they dutifully "reported" DLJ's reit it had closed around 38-39. That day it got back up to around maybe 42-43 and right now (watch out, there's another real shocker coming) it's @ 27 1/2. Thank you CNBC for being good little co-opted servants of the brokerage industry. A trader looking @ CATP would look at that stock, see everyone and his uncle trying to keep the stock up over the last month (one upgrade and reit after another) and go "gee, why does this look a little strange? What's happening here? Do I want to go with these analyst comments or hang off?" The day they load up the canon, they also forget to mention the stock was down the day before on reports that some group (Center for Financial Research, something like that) was raising questions about their accounting practices. Now, what this group is, or whether whatever it is they were saying is accurate, I don't know, but isn't that part of the story? How can CNBC report on that DLJ reit without taking the time to give that type of background? That's where they're weak. I call it "the pillow syndrome" - a headline news approach which just feeds out the last thing anyone says on issue X without taking the care to provide any type of context. They're constantly content to report half the story. IMHO, that's not responsible journalism to begin with, but when you consider the nature of the reporting they're doing and the tanglible impact it has, that approach is even more dangerous. Good trading, Tom