Why I can’t listen to CNBC with the sound on anymore…
The mute button is now my favorite feature on my remote when watching CNBC. I’ve watched the channel for 20 years now and can no longer listen to the “pundits” and “guru’s” that are booked by the minute there.
When it comes to investing there are facts and there are opinions. It seems the opinions are the dominant content on CNBC lately or perhaps I’m just more in tuned to all the “I think” and “I belileve” crap.
CNBC is a giant booking machine. They have LOTS of airtime to fill all day long. There isn’t enough news out there so they fill the time with analysts, “experts”, gurus, pundits and also create their own news by trying to stir the pot and asking leading questions for their teasers. None of this is helpful to a viewer and will certainly steer most in the wrong direction. Pundits will stand up with utter conviction and tell you why some stock or the market will go up or down this day or next week or next month. It’s complete madness now.
I had a revelation while touring CNBC studios a few years ago. While on the tour the guide showed us the control room and how many feeds they pull in from cable, landlines, satellite, etc. He said how CNBC was a massive booking machine. If you watch it all day and count the guests they have on you will see what I mean. If you notice you will get 2 or more in a segment quite often with a point/counterpoint on every stock or the market. Just time filling and most of what these idiots say are garbage. I’ve even seen numbers put out there as if they are facts and yet they are completely wrong. Wrong PE’s, earnings and other items tossed as facts but completely wrong. There is never a retraction or fact check to correct it.
I know CNBC can do better. Perhaps its just too hard to fill those long hours from 6AM to 8PM every single day so you stuff whatever garbage you can in between. Don’t listen to the pundits or experts on there. If you do your portfolio will suffer dearly. Buy what you know and do your own research. If you follow these experts you will go broke.
Making money in the market is not hard however you do have to use your own brain and do what you know is right all while so called experts spout their drivel and misinformation. The mute button is now my best friend.