Thursday, March 5, 2009

Jon Stewart (Leibowitz) does what I can not.

There are few things I dislike on television more than CNBC. Much like with financial magazines, CNBC's need to constantly churn out a story will forever relegate it to a barren wasteland of trader's gossip. Good investing doesn't change much. It hasn't since Charlie Munger slightly adjusted Ben Graham's thoughts on the subject some 50 years ago. But the need for a new issue every two to four weeks or a 24 hour news cycle combined with politically tilted biases leaves publications from Forbes to CNBC nearly worthless for the long-term investor. In fact, I would suggest they are worse than worthless because they can actually be detrimental to your long-term investor's mindset.

Thus, it is with great pleasure that I have seen The Daily Show's public spanking of CNBC making the rounds across the entire financial-eco blogosphere from gossip sites like Dealbreaker to intellectual fare like Calculated Risk.


2 comments:

Konrad said...

Priceless!!

Konrad said...

You don't even have to string multiple days together. This afternoon on www.cnbc.com. Listing of headlines from 5 web articles listed one right after the other.

Strategist: Put 80% Cash in Stocks!
Options Point to 6-Month Bank Stock Slide
Cramer: Dow 5,320?
'I'm Going Long': Market Maven
Charts Predict: 'Dangerous' S&P Could Hit 450