Why I No Longer Watch CNBC
Why is it that I no longer watch CNBC you ask?
I had watched this financial news channel for at least a decade plus. Not sure if I got smarter or they got worse but too much of CNBC is opinion and agenda versus just facts. I’ll do my own opining to make decisions thank you.
I took a tour of CNBC headquarters in person and it was a HUGE wake up call. On the tour I was told how they have 14 hours of programming each day and they have to fill all that air time. They literally said they are a “giant booking machine” bringing in feeds of booked guests over satellite’s, internet and every other possible way. They book 100’s of guests each day to fill the airwaves.
Their goal is to fill the time. Does not really matter too much what the content is as long as you watch. I no longer watch. Easier to pick the days facts from the newswires.
CNBC also makes every little thing into a giant super important thing. Jobs numbers? We have a timer for that and will remind you ever commercial break! ADP numbers? Sure we have a countdown for that too. Every other minor economic report or news…we’ll remind you too over and over because it is super important. We’ll even show you timers with 100th of a second accuracy because these things are really really important. Not a millisecond to waste!
There are many hazards out there to your investing success. It is my opinion that watching CNBC may be one of the most hazardous things you can do if you want to be successful at investing. It is the nature of the best. If they only had to report the facts each day it would barely fit an hour. So you have to repeat everything ad nauseum, bring on an endless parade of guests to opine and make a mountain out of every mole hill.
Watch at your own peril…and if you must watch then do what Buffett does…at least turn the sound off!