Did you catch Jon Stewart's Daily Show piece the other night about CNBC?
The eight minute segment can be found at link below on Comedy Central's front page. Very funny response to the Rick Santelli blow up and his subsequent no-show on Stewart's Daily Show.
Had you done the exact opposite of what all the CNBC crew and their guests advised and played their buy recommendations SHORT, you would have made a ton of money in the last two years. Hmmm...wonder how the CNBC crew actually traded. Then I came across this article about how Jim Cramer uses CNBC to manipulate the market:
My favorite part of CNBC is the viewer call-ins. They let anybody talk endlessly about anything. They can be characterized as a pretty good cross section of the average Joe and Jill, with a little market knowledge mixed with blind trust. ('They' wouldn't lie would they?)
It is those people I feel sorry for. They assumed the media to be honest and lost a lot of money because they were misled. Is a CNBC buy recommendation a codeword for "sell short" to those in-the-know?
That's the main problem with futures trading. It should be abolished as a public trading venue.