Jump to content
House Price Crash Forum
Sign in to follow this  
Daltski

Cnbc/bloomberg

Recommended Posts

I'm sure they have disclaimers all over the place but these financial channels are as responsible as any Fed official, corporate CEO etc for the misleading reports and analysis that drives the average investor into believing that every dip in equities is a buying opportunity.

I'm a equity trader for an investment bank and find myself watching these channels most evening (I don't get out much!) and the way that daily financial events are reported and analysed are nothing short of sensationalist. I'm sure many of you saw Jim Cramers rant on CNBC and that is represents perfectly how these programmes have become more about entertainment than reporting the facts. I watched a panel of 5 supposedly seasoned professionals (ex-Fund Mgrs, traders etc) debate on whether the initial falls a couple of weeks back were the beginning of a bear mkt or if the bull mkt was still intact. They used Godzilla to represent the bull and King Kong the bear. The conclusion, Godzilla always wins and King Kong dies in the end!!!! Talk about dumbing down.

And the guys on the floor they interview only ever talk about investors buying "bargains" or imply that a move lower is really completely unjustified and a bounce just around the corner. Now I know it's up to every investor to make their own decisions but when you're permanently exposed to inane, irrationally-biased reporting you can see why markets seem so slow to react to what to most people here seems a pretty unavoidable downturn. The fact that they all make out a 5% correction (historically tiny) move in mkts to be the end of the world, demanding rate cuts etc only exaggerates my view that the reality will come as a genuine and terminal shock to many. I trade Russia and have seen first hand how stocks can halve, halve and halve again before they bounce. The next few months are going to provide a very expensive reality check to millions, and maybe a few lawsuits to the vested interest financial reporting community.

Share this post


Link to post
Share on other sites
I trade Russia and have seen first hand how stocks can halve, halve and halve again before they bounce. The next few months are going to provide a very expensive reality check to millions, and maybe a few lawsuits to the vested interest financial reporting community.

Interesting insight Daltski and good to read posts from people at the "coal face." I'm sure you are right about class actions against the financial media, and possibly a review of the public mainstrain media who are failing to report at all.

Share this post


Link to post
Share on other sites
Guest DissipatedYouthIsValuable
I'm sure they have disclaimers all over the place but these financial channels are as responsible as any Fed official, corporate CEO etc for the misleading reports and analysis that drives the average investor into believing that every dip in equities is a buying opportunity.

I'm a equity trader for an investment bank and find myself watching these channels most evening (I don't get out much!) and the way that daily financial events are reported and analysed are nothing short of sensationalist. I'm sure many of you saw Jim Cramers rant on CNBC and that is represents perfectly how these programmes have become more about entertainment than reporting the facts. I watched a panel of 5 supposedly seasoned professionals (ex-Fund Mgrs, traders etc) debate on whether the initial falls a couple of weeks back were the beginning of a bear mkt or if the bull mkt was still intact. They used Godzilla to represent the bull and King Kong the bear. The conclusion, Godzilla always wins and King Kong dies in the end!!!! Talk about dumbing down.

And the guys on the floor they interview only ever talk about investors buying "bargains" or imply that a move lower is really completely unjustified and a bounce just around the corner. Now I know it's up to every investor to make their own decisions but when you're permanently exposed to inane, irrationally-biased reporting you can see why markets seem so slow to react to what to most people here seems a pretty unavoidable downturn. The fact that they all make out a 5% correction (historically tiny) move in mkts to be the end of the world, demanding rate cuts etc only exaggerates my view that the reality will come as a genuine and terminal shock to many. I trade Russia and have seen first hand how stocks can halve, halve and halve again before they bounce. The next few months are going to provide a very expensive reality check to millions, and maybe a few lawsuits to the vested interest financial reporting community.

Those little people in televisions tell us lies because we don't let them out.

Share this post


Link to post
Share on other sites
...that daily financial events are reported and analysed are nothing short of sensationalist.

exactly. And this is common across all media. so when we hear all these stories about impending doom which are picked up and heralded on here as evidence of impending HPC / stock makret collapse / world financial crisis doesn't anyone think that it is just designed to get people to read? Yes, there is likely to be truth in what they say, but perhaps, just perhaps, the worst possible scenario is put forward, and it is not a balanced view of what is most likely to happen.

Share this post


Link to post
Share on other sites

arrrhh the beautiful lies of the sellside. have you read traders guns and money ?

these channels are like tabloids. I wouldn't spit on them.

thy reading the FT its much better

Share this post


Link to post
Share on other sites
exactly. And this is common across all media. so when we hear all these stories about impending doom which are picked up and heralded on here as evidence of impending HPC / stock makret collapse / world financial crisis doesn't anyone think that it is just designed to get people to read? Yes, there is likely to be truth in what they say, but perhaps, just perhaps, the worst possible scenario is put forward, and it is not a balanced view of what is most likely to happen.

Sure and that's a very valid point, but the uber-bearish views tend to come from independent sources (who, of course, want people to buy their papers/magazines or subscribe to their sites) but for me it's those areas of media that have a vested-interest in the success of the stock-market which should be the ones who are regulated in the way they report. The positive spin that is put on almost every scenairo sickens me. Clearly if less people are interested in the markets CNBC and Bberg are going to lose viewers and by the same token if they report negative news those who own those stocks will be happier to listen to the bullish sentiment on another channel. Right now the likelihood of Fed easing because of the weak job number today is being used as a reason to buy. For me it's the beginning of the end. Oh, and now the weak dollar is good for mulit-nationals, no mention of the hyper-inflation that will ensue!

Share this post


Link to post
Share on other sites
arrrhh the beautiful lies of the sellside. have you read traders guns and money ?

these channels are like tabloids. I wouldn't spit on them.

thy reading the FT its much better

I haven't but I do read the FT. Funnily enough the perma-bull broadcasting serves to provide opportunity for those prepared to see through the b-s as it draws out the opportunities to profit from a situation such as this but the man-on-the-street is being sadly mislead. I also love how CNBC show the top 3 stocks in the Dow everyday, known as the "Leaders", and the bottom 3 known as the "Laggards", suggesting that it's only a matter of time before these stocks pick up and move higher. They used to be called winners and losers but clearly having something so detrimental as the sentiment of a "loser" on screen cannot be tolerated! Numpties!

Share this post


Link to post
Share on other sites

Talking Heads, Talking utter tripe usually.

Ratio of talking heads who actually say things are grim out there to everything is sooper must be about 1 - 5

Edited by Timil

Share this post


Link to post
Share on other sites
I haven't but I do read the FT. Funnily enough the perma-bull broadcasting serves to provide opportunity for those prepared to see through the b-s as it draws out the opportunities to profit from a situation such as this but the man-on-the-street is being sadly mislead. I also love how CNBC show the top 3 stocks in the Dow everyday, known as the "Leaders", and the bottom 3 known as the "Laggards", suggesting that it's only a matter of time before these stocks pick up and move higher. They used to be called winners and losers but clearly having something so detrimental as the sentiment of a "loser" on screen cannot be tolerated! Numpties!

yes what your refering to there is the arrogance in an ameican media bereft of humility. it will be their undoing. the fact they even allow anyone to comment on a share that they/their company has an interest/position in is ridiculous. I look at bloomberg for one reason and one reason only. its the nearest realtime website for "figures" like nfp. ok two reasons... they got nice yeild curves on bloomberg.com

Share this post


Link to post
Share on other sites

I saw Bloomberg TV on the morning of the Fed rate cut on the overnight rate and they had a commentator on there saying, this will not be a long term return to high prices, sell now while you can. I'm sure these stations will be able to point to enough clips like that to show that they have a balanced view.

Share this post


Link to post
Share on other sites
I can't remember when last I heard someone rave about a stock because it paid good dividends. If you can't make money out of rises and falls, it's not newsworthy.

No different from watching Attheraces really. I think the usual term for most of the experts they wheel out is a "bunch of guessers". There was an expat Englishman on Bloomberg last night who actually tsaid that the US Payroll numbers were insignificant and everything else was OK. A complete waste of 5 minutes. "The ship is not sinking but I am renovating my lifeboat so mush dash ciao!" sort of thing.

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • 354 The Prime Minister stated that there were three Brexit options available to the UK:

    1. 1. Which of the Prime Minister's options would you choose?


      • Leave with the negotiated deal
      • Remain
      • Leave with no deal



×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.