Saying goodbye to CNBC...

Discussion in 'Trading' started by retaildaytrader, Dec 21, 2010.

  1. At this point in my life, I am turning off CNBC forever along with all other news programs. Watching CNBC all these years has not been all. In fact, I think its been harmful from a psychological perspective. There are lots of sophisticated FREE stock/news screeners out there like so there is absolutely no need to watch CNBC. Oftentimes, CNBC gives you news late anyways...and I mean by several hours. If you absolutely need some type of news going in the background, then turn Bloomberg TV on. Those guys still will not give you any type of edge, but they are a lot better then CNBC. Their world of financial journalism seems more responsible.

    However, for me, I am turning the television completely off and if it does stay on then it won't be on a financial news station. That stuff just throws you off and places your focus where it shouldn't. It might be better to even have your favorite music going on in the background then hearing Bob Pisani going off every 10 or so minutes. Just say no. Turn the television off and focus on the work at hand.
  2. Bob111


    congratulations! you just made a right decision. i did same about decade ago. if tv is not a part of your trading plan(assuming you have one)-then you should keep it off. it's create nothing,but confusion and distraction in your head.
  3. cnbc guys like cramer or other news outlets aren't responsible for bad investment advice...

    the stuff that these financial professional say in TV is like bad advice...taking bad financial advice is like bad dope man. or they are paid to pump b.s...remember these stock and hedge funds pay people to promote or promote their positions.

    in the 1920's all news outlets were controlled by wall street firms and paid to write certain articles.

    even message boards like this one has paid posters etc. to promote their position or beware of people in teh news or message boards...i'm not paid to post.

    the point is that most of wall street are managing other peoples money and make money on assets managed. and only way they can make money is rising asset prices whether it's b.s. or not or detrimental to the's greed.

    tthe stock market is acts like ponzi scheme.

    madoff investors getting back 50% of funds they put into that ponzi scheme. 20 billion was put into madoff ponzi scheme or pot..over the last 20 years nobody how you embezzle that 20 billion.. if had just put that 20 billion in bonds paying 5% he made 20 billion in the last 20 years....instead of embezzling it.

    it's impossible to get 25% ROI YOY in any 'investment' in the long run which is what these hedge fund investors want so these hedge funds cheat to get those returns.. unless its from trading which isn't investing...big difference between investing and trading.

    ie..the price of homes don't increase more than 7% YOY..why because nobody will buy it. or can afford it.

    and if you invest in a ponzi scheme at least you get 40% back but in stocks you can get zero...if the company goes bankrupt or share prices drops 90%

  4. Bloomberg TV isn't that bad IMHO, also its free to stream online.
  5. Another thing to turn off and shut-down is online blogs and newsletters. A few of the infamous ones are and minyanville. Those have been wrong this entire way up and what they usually do is hedge their speech making statements that the market could go up or down. Whatever happens in the market, they appear right and can always point back to something they said earlier to prove it.

    I do believe there are some kernals of knowledge to be gained from a few blogs. However, the truth is that most of these bloggers are just like you and dont know anymore then you do. Once you have gained all the knowledge you can from these online blogs, then hit that X at the top right corner of the browser. Don't ever look back at them again once you have gained the most out of them.

    The truth is you dont need the news or blogs, but simply need some screen time observing and experiencing. The news and online blogs/newsletters only serve to confuse you...

    All the crap they serve to you on a platter can be learned from the popular trading books anyway.
  6. Hmmm, so let me guess.

    Your parents cut off the cable and internet to your basement.
  7. lol

    How are you going to get your daily dose of Erin B. ?
  8. juanmon


    it's amazing how much more productive you become when you shut it down. the only interesting stuff on CNBC are the infrequent interviews with genuinely sucessful managers (Einhorn, Tepper, etc) , but you can see these on thier website anyway w/o the commercials.
  9. Watching TV, reading the news and paying attention to media slowly but steadily leads to emotional trading decisions. The same holds for chart analysis and screening of stocks.

    The real danger is not the quality of the programs that you watch or listen to, or the quality of the chart analysis or screenings. It is - pay attention to this - the fact that people interpret them in ways that suit their preconceived ideas about market direction.
  10. You would be much better served leaving cnbc on and instead refraining from seeking attention and human interaction, self actualization from financial forums.

    #10     Dec 21, 2010