Careful!!! Don't Criticize CNBC!!!!

Discussion in 'Wall St. News' started by flytiger, Oct 20, 2008.

  1. from Ritholtz blog:

    The Big Picture

    Why is Barron's Banned From CNBC?

    Posted: 20 Oct 2008 04:42 AM PDT

    I give Barron's grief whenever I think a columnist or magazine cover is wrong.

    But even when some thing rubs me the wrong way, the rest of the magazine is usually filled with worthwhile content: Mike Santoli's Streetwise, Randall Forsyth's, credit writings, Michael Kahn's Technician, The Trader Column, the various interviews, and of course, Alan Abelson. It has been a fixture of my weekend for as long as I have been in the business. I was thrilled to publish there last month.

    If it wasn't important, it wouldn't be worth criticizing.

    One of the things I enjoy has been the Monday morning CNBC segment called "The Barron's Bounce," usually with Michael Santoli. It dawned on me that I hadn't seen Mike on in sometime, so I started poking around. I was surprised to read via Gawker that ever since the Barron's cover story looking into Jim Cramer's track record (Shorting Cramer) in 2007, all Barron's staffers have been unofficially banned from CNBC.

    This decision serves neither CNBC nor its viewers. Legitimate analysis and criticism into anyone's track record is encouraged. When I screw up -- and I do, all too regularly -- I expect to hear about it from readers. If Cramer's nightly stock picks are under-performing, well, that is fair game for any critique.

    Let me break ranks for a moment and say something nice about Jim Cramer's show: The most positive aspect of it has been to teach many of the newbies who watch it some basic money management techniques. I've heard Jim discuss diversification, stop losses, the dangers of naked put writing, and other, rarely discussed issues. Yes, I have a hard time with the cult of personality that has evolved around the show, and some of the goofier aspects of the broadcast, but I am not the intended demographic of Mad Money.

    The bottom line is that there is a lot more to the show than Cramer's picks. Besides, he is on 5 hours a week, and answers dozens a questions on 100s of stocks. No one can throw out that many responses to that many trading ideas and perform any better than any large mutual fund.That's just the math of discussing that many names.

    I would urge CNBC to reconsider this Barron's ban. If you don't find the Barron' content worthwhile, well that's fine. But to respond to criticism in such a heavy handed way makes the network look thin skinned and petty.

    Viewers deserve the best guests and viewpoints a network can wrestle up. I cannot see how this serves anyone's interests -- the viewers, Barron's or CNBCs.

    This is just one man's opinion . . .
  2. From what I've heard Kramer exerts a big influence at CNBC. He's the de facto big Kahuna.


  3. Keep in mind that Barron's is a publication of Dow Jones, which is a now a Fox property. With the Fox Business Channel now as a direct competitor to CNBC, the latter is more apt to quote - and have guests on from - the Financial Times and NY Times as opposed to the WSJ and Barron's.
  4. Thank you, that's the real answer.
  5. CNBC is toast without Cramer.

  6. its also toast with cramer. SANTELLI RULES, AND ART CASHIN
  7. Art's the best. 40 years, no bullshit, respects the market, and knows it inside out.
  8. weld1


    yes santelli rules those other fuckers are idiots... cheerleaders for dumb money!!!
  9. weld1


    art cashin is a gentleman, cnbc is not worthy of him at all.
  10. I'd actually trust Cashin with my money.

    Who in their right mind would trust Cramer
    #10     Oct 20, 2008