CNBC's Fast Money - pulling a FAST ONE

personally i really like the input that Bolling gives during interviews during the trading day (i've never seen him on fast money though). His predictions and market analysis have been right on point a majority of the time in the past. Thats really the only time i turn it off 'mute'. I particularry love when CNBC sends one of the reporters onto the NYMEX floor to cover the oil markets....thats some entertaining tv in my opinion.....crude will rally 30 cents and the CNBC reporters will react like the next stop is $200.
 
Quote from syswizard:

My beef: None of the losing recs are getting mentioned or tracked. I'm massively short GM and XLF from their recs 2 weeks ago...look at the charts. I'm getting CRUSHED.
Get this: when I send in an email to fastmoney@cnbc.com all I get is an automated reply which indicates to resend the email. I do this, and guess what ? They send out the same lame email and so I can never get through to them. They seem to be screening negative responses !
Bogus, I say. Anyone can look good by ignoring their losers.
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<a href="http://imageshack.us"><img src="http://img251.imageshack.us/img251/4497/dependsformenae2.jpg" border="0" alt="Image Hosted by ImageShack.us" /></a>
 
Quote from ess1096:

May I suggest Reminiscences of a Stock Operator
Chapter XX
Page 220
Third paragraph.

I'll paraphrase; "I can't have much sympathy for the man who blames others for his own failure to make easy money."

The rest of the book is good too.
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"the game never changes, the pockets change, the suckers change, the stocks change, but wall street never changes, because human nature never changes."

the suckers got taken listening to tips in Livermore's day, and they'll be getting taken 100 years from now.
 
Its a lot like this board, everybody makes money and is above average looking.
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I never claimed to be making any money, however, it is true that I'm exceptionally good-looking.

H
 
Quote from syswizard:

My beef: None of the losing recs are getting mentioned or tracked. I'm massively short GM and XLF from their recs 2 weeks ago...look at the charts. I'm getting CRUSHED.
Get this: when I send in an email to fastmoney@cnbc.com all I get is an automated reply which indicates to resend the email. I do this, and guess what ? They send out the same lame email and so I can never get through to them. They seem to be screening negative responses !
Bogus, I say. Anyone can look good by ignoring their losers.
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A fool and his money are soon parted.
 
Quote from Algorithm:

Personally I like Fast Money.

I think they have made some great calls. I think they make Cramer look sick. I think they are acting in all sincerity and honesty on the show. With all that being said, like others have already stated, don't trade on "tips" and watch for entertainment purposes. I watch not for their recommendations, but for their thought process and commentary. Never know what you might learn from guys that supposedly do it everyday and professionally. The problem is that too many want to be spoon fed and take the easy way.

Look, no show about trading is going to hype their losers like they're going to tout their winners. With that being said, Fast Money does review their losing trades. Every show I've watched they have a segment called "Fast Fire" I believe. That's where they show the losers and sometimes they add the commentary by the traders on what they would do with the loser. Interesting enough on tonight's episode all the traders comments were to stick with the trade and some would even be adding (take it for what it's worth).
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Yeah, but no one is tracking their NET profits and performance. Plus, if you've noticed, the stocks recommended for a long position almost invariably go up the next day. So there is a huge bias to be accounted-for as well.
As far as: "..and some would even be adding". Uh, isn't that a form of martingale betting...which I believe has been beat-to-death on this forum with the conclusion being "don't do it" unless you've got deep, deep pockets.
You know what, maybe I'll start-up a website just for the purposes of tracking these guys. I'll have the date/time of the call, open position profit/loss, closed position profit/loss, YTD profit, # of winners, # of losers, %win, average win %, etc.
www.fastmoneystats.com
 
Quote from Bitstream:

bs

they incompetent to da max...can u imagine how good they would look makin' constant good calls and how long it would take for 'em to have hundreds of calls from jp, hegde funds etc? not to mention the boost in their popularity, innit.
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They are private traders. I'm sure they worked for a big name before they went private. So they would be turning down those calls. Besides if your that good who wants to have a boss.
 
Quote from syswizard:

Yeah, but from the show's standpoint, EVERYONE is making money, and NO ONE is losing money.
THIS IS SIMPLY NOT TRUE.
That's all.
And when I try to remind them of that fact, they ignore it.
Bogus.
They should rename the show "Bogus Money".
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last night during their live audience show that had a thing right before they went to commercial called "fire <something>" where they called out losing stock picks from each of them.

you're pissed becuase you thought you could make fast money without doing research? give me a break...
 
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