Advisers got the joke about CNBC long ago (Investment News)

[swag]

http://www.investmentnews.com/apps/pbcs.dll/article?AID=/20090311/REG/903119976/1094/INDaily01

“The Daily Show’s” Jon Stewart has brought to wide public attention — in his signature snarky style — what advisers have been saying for years: much of the content on CNBC is super-hyped, useless pap.
Actually, the content is worse than useless.

As Stewart cleverly and devastatingly pointed out in a recent segment, CNBC commentators and their “insights” can be positively ruinous to one’s financial health. That’s a point that advisers have been making for years.

But advisers have been limited to words. Stewart deftly uses the medium of television to skewer the CNBC bloviators at their own game. By simply replaying a few of Maria Bartiromo’s fawning questions to disgraced CEOs or Jim Cramer’s bellowing, self-assured pronouncements — which, if followed, would have steered an investor right off a financial cliff — viewers see the idiocy for what it is.

By the way, the next installment of Stewart’s ribbing of CNBC takes place on “The Daily Show” on Comedy Central tomorrow night, when Jim Cramer makes an appearance in person.

If I were the czar of TV regulation, CNBC would be forced to run the following disclaimer on all its programming: “THIS PROGRAM IS ENTERTAINMENT AND SHOULD NOT BE CONSTRUED AS FINANCIAL ADVICE. ITS CONTENT IS DANGEROUS FOR PREGNANT WOMEN, WOMEN WHO MAY BECOME PREGNANT AND ALL THOSE WHOSE MOTHERS WERE ONCE PREGNANT. IF A DESIRE TO CHECK STOCK PRICES MORE THAN ONCE EVERY FOUR HOURS PERSISTS, CONSULT A PROFESSIONAL ADVISER.”

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[paulsby]

1. all traders know this

i actively trade stocks and futures and we have been constantly making fun of CNBC for years.

it is financial crack - provides a nice buzz, but has no nutritive value.

bloomberg tv is a little better, and even fox business channel, but in general none are particularly good

[buzzard]

2. Out of curiosity have you ever watched BNN it is Canadian but they seem to be pretty fair and a lot

of the guests are from the US, I am also wondering if you can even access it from your end let me know if you have a chance.

http://www.bnn.ca/

[paulsby]

3. thanks. ill check

i have a canadian channel on comcast. never noticed this show, but i'll check the schedule and see if it plays here.

[truedelphi]

6. Not aware of this site, but it looks very good.

[swag]

4. I like the anchor who sounds like a hiccuping robot on Bloomberg

[sad sally]

5. So, did Rick Santelli get spanked?

Haven't seen or heard him for the last couple of days. Maybe people in Chicago didn't like being called losers? (have taken to watching CNBC for some laughs even though Cramer sez' unlike Jon Stewart he's NOT a comedian. What a hoot yesterday to see Stewart show Cramer making all those crazy noises and wave his arms like a chicken - kind of looked like comedy to me:)

edit: complete sentences, complete sentences...grrr, old age is the pits

[rhett o rick]

7. Investing in Wall Street has always been gambling. Hit it right on the up bubble and make it rich

Most of the public, believing the myths the Wall Street shysters promotes, lose. Bubbles make those in the know rich at the expense of the public. This isn't new, it's been going on for ages. There is very little connection between the market and the economy. Except that during a good economy the Wall Street shysters can get more off the top.

Of course there are honest people associated with Wall Street. There were honest people working for Enron also. When you buy stocks in the Market the money doesn't go to the company you bought, it goes to the speculator that previously owned it.

But since most of the compensation the executives get is based on the popularity of their stock, they promote bubbles in their own stock prices. They sell high and the public gets to sell low.

[ddeclue]

8. No gambling involves rules and equal transparency for all playing the game..

Slots or blackjack (provided nobody is card counting) or poker constitutes "gambling".

What they do on Wall Street is NOT "gambling"...

:rofl:

[rhett o rick]

10. You are right, it is just plain theft. A top brokerage house lost about half my mothers savings

In the '90's.

[upi402]

9. k/r n/t