More proof that CNBC =! informed investing

Discussion in 'Wall St. News' started by rickf, Feb 8, 2009.

  1. rickf

    rickf if you/we needed further proof of CNBC-USA's role as the pre-eminent channel for stock market-oriented infotainment. (Note: CNBC-World is far more toned down and 'rational' than CNBC-USA in recent years....IMHO almost Bloomberg-like with CNBC graphics.)

    Fighting Over Money...What CNBC has in common with professional wrestling.

    < - >

    ""Conflict is king in cable television," Wald says. "You want more than one guest at a time. You want cacophony, not a symphony." That point of view is what made CNBC an odd combination of up-to-the-second market information, talk radio, and a freewheeling sports show that cuts into the action at every lull."

    < - >

    "From Wald's perspective, talent was not enough. What business news needed was a story line. The endless stream of market data, analyst interviews, and CEO stand-ups was numbing. Worse still, it was too passive, too stuck on the sidelines, and too damned objective.

    One way to break through that was to allow the talent to be honest about the news they were conveying. Wald encouraged them to let loose with their own opinions and biases as long as they were upfront about it. The same went for reporting. As long as the reporters and hosts made their proclivities known-and this included presenting who might benefit from a market rumor or an executive leak-CNBC's regulars could light it up. And they did.

    The daily diet of shouting and good-natured trash talking looks less like wrestling than football or, at least, any given weekend's coverage of football. In fact, CNBC's programming day is a bit like Super Bowl Sunday. Squawk Box is the pregame show, Power Lunch handles the half-time entertainment, and Fast Money is the postgame strut in which players trade war stories and chest bumps and constantly try to one-up each other."

    < - >
  2. Like sheep to a slaughter. Someones gotta do it...