Exactly. I'm surprised Cramer didn't come on TV and rip everyone for buying FRE/FNM after he pumped it. He's a raving lunatic.
Bill Miller on Suicide Watch
- Thread starter capmac
- Start date
It's more profitable to give advice then to take advice.
First of all, everyone knows on Wall Street that good market intelligence is expensive. Sophisticated investors pay an arm an a leg for good information. They are not going to give this information for free. What CNBC is reporting is what Wall Street wants the public to hear and believe. Naturally, this is to the detriment of the gullible public.
The way I look at it is that CNBC is in the business of promoting the news whereas Wall Street is in the business of promoting stocks. Wall Street uses the media as a means of making money.
PERSONALLY, FAST MONEY SHOULD BE RENAMED TO FAST LOSSES.
AND CRAMER SHOW SHOULD BE REMADE INTO BOZO THE CLOWN.
First of all, everyone knows on Wall Street that good market intelligence is expensive. Sophisticated investors pay an arm an a leg for good information. They are not going to give this information for free. What CNBC is reporting is what Wall Street wants the public to hear and believe. Naturally, this is to the detriment of the gullible public.
The way I look at it is that CNBC is in the business of promoting the news whereas Wall Street is in the business of promoting stocks. Wall Street uses the media as a means of making money.
PERSONALLY, FAST MONEY SHOULD BE RENAMED TO FAST LOSSES.
AND CRAMER SHOW SHOULD BE REMADE INTO BOZO THE CLOWN.
I agree. Absolutely stunning! After reading this thread, suddenly my day isn't so bad after all.
CNBC makes money solely from selling opinion,news and hot air.Worthless.
There have always been outlets like this offering free advice on wall st.
Its all part of the game.Some people sell stocks,some sell news,some sell market letters,some sell advice,some sell hedge funds,some sell software and charting services...Wall is not just about brokers making money,there is a whole cottage industry.CNBC makes money for offering useless info.Not a bad venture.
Aside from their real time ticker tape tcnbc is completely useless.
WOW!!! Down 30% ytd!:eek:
My youngest Son in Elementary School could do better. (And did!)
He said he wanted to be a HF Manager (due to a dumb comment from me about how much the top 10% made last year in personal income)
I told him that he should look through IBD's site, which he did. He also reads Barron's. He spent 1mm (paper $
) a little over six months ago, and is actually only down 3.5% ytd holding 28 equities.
I told him to place the trades with a hard stop ranging from 9-14% depending on the company and market cap. That was the only help I gave him. Maybe I should send him to Legg Mason...
I still think even those that truly dislike Miller have to at least credit him with the longest positive run in the history of money managers (16 years).
That's 16 years straight, even during bear markets, that only ended last year.
I don't see how that can't be viewed with respect.
That's 16 years straight, even during bear markets, that only ended last year.
I don't see how that can't be viewed with respect.
Bill Gross seems to be feeling the pressure also, he is calling for help on tv...between his LEH and FNM positions, (which are in the bond categories), I think he is also about to suffer amputation without anesthesia, a potentially costly, (and humiliating) experience.
It appears he fully advocates being bailed out by the government.
I actually like this guy, however, I believe he may get a 'haircut' on his positions, (to go along with the 'sans moustache' look).
A result of all this may be an increase of PE in the direct backing of future mortgages, which may manifest as tighter lending standards, which may also slow down the housing market(s), (both stocks, derivatives, builds, etc)
Priceless a guy on the air today, a banker of sorts or a bank analyst, saying, the banks need recapitalizations, since they are essentially outta money, (his reasoning was, they lost all their money, therefore, they need more in order to conduct business, and start the (same) process all over again!)
It appears he fully advocates being bailed out by the government.
I actually like this guy, however, I believe he may get a 'haircut' on his positions, (to go along with the 'sans moustache' look).
A result of all this may be an increase of PE in the direct backing of future mortgages, which may manifest as tighter lending standards, which may also slow down the housing market(s), (both stocks, derivatives, builds, etc)
Priceless a guy on the air today, a banker of sorts or a bank analyst, saying, the banks need recapitalizations, since they are essentially outta money, (his reasoning was, they lost all their money, therefore, they need more in order to conduct business, and start the (same) process all over again!)
Exactly.
Just like I can get a coin to land heads 10 times in row.
Mind you I started with a few hundred coins and eliminated any for future flips that didn't land on heads.