Don't worry, Jon Stewart got on CNBCs case and wiped the floor with them, any credibility they had before is gone.
<cite> Psychology âºâº Why is it so hard to simply come out and admit you were wrong? </cite> Since this thread is entitled Psychology, then the most appropriate answer deals with insecurity and lack of confidence. But as far as the mass media and mass marketing goes, there ain't no upside to bringing negative attention yourself. As for me personally, it ain't nobody's business if I admit that I was wrong because I ain't going around selling myself or anything else. Ultimatey, a trader's mistakes are a matter between him and his BOTTOM LINE.
The IRONY is that Kramer is a jerk on a business information channel working harder at entertainment than information. And Stewart is a jerk on an entertainment channel trying to be more profound than a second generation Chevy Chase. Mort Sahl was and is the STANDARD in America for the marriage between comedy and political commentary. Jon Stewart is NO Mort Sahl, not even in his fondest dreams.
Stewart is intelligent for a comedian, but Stewart's writers are the ones behind the majority of what he has to say on his show. I'm not a Cramer fan at all but at least he is putting himself out there with his own thoughts. Postulating about the market or certain stocks knowing full well if he is wrong he will be evicerated by comedy news shows. All stewart is doing is making fun of people while using clever jokes mostly written by others. my 2 cents