I recently read an article that CNBC has struggled with it night time programming. The article said that the Fox News stock market channel coming this summer would try to exploit this weakness.
So what is CNBC's latest attempt to address this problem? Another Jim Cramer show called Mad Money. Is this really the answer? I've never heard anyone say they like him, I don't know anyone that likes K&C, his current show. I will say this, he absolutely nailed the Sierra Wireless (SWIR) quarter the other day on Power Lunch. I never watch his show, read his columns or hear him on the radio. Some have told me he is not right as often as he used to be. While I don't know about that I do know watching him is quite agonizing for me.
I would suggest that CNBC just show CNBC Asia and CNBC Europe at night. Very few people have access and I am telling you that the content is so much better that anyone who doesn't have it is truly missing out.
Wikinvest Wire
8 comments:
Absolutely, positively agree. Makes no sense not to have round the world coverage 24 hours on weekdays. Blew me a way that during all the global crises in the 90's the station did not even try to give live coverage.
In general I would even say the European and Asian anchors are better that what we get here.
I also agree. I wonder if they think they won't get enough viewers by airing CNBC Asia & Europe. But they can't do much worse than they did with the John McEnroe show which got some zero ratings! :-)
Roger,
As much as I like your blog, I have to say that I think K & C is the best stock market/economy show going. Yes, Cramer is annoying but he brings a perspective and point of view that the regular talking heads lack.
CNBC made a big blunder when they dropped K & C in the evening. Who watches TV at 5ET? I do agree however that the Asia feed would be far better than the garbage they show now at night.
Roger,
I agree. Although I think Kudlow is better at analysis that Cramer. I saw an article on Cramer either in the WSJ or Barrons that examined Cramer's record of stockpicking and he had some absolutely terrible choices. He is a showman first, and a poor one at that, and an analyst second, or was it third. In any case, investor beware listening to these types of prognostcator.
I enjoy watching K&C and I found it to be one of the better business shows out there. I like Cramer as well although, I take everything he says with a grain of salt. Nonethless, it's entertaining listening to him talk. I'm looking forward to his new show and hope it's better than that Bulls Eye show. CNBC does need a better evening line up and I kind of hoped they would rerun the K&C show in the evening time slot.
I enjoy Kudlow and Cramer. Kudlow is the eternal optimist and Kramer gets excited about nothing; to the point that you can hardly understand him. I watch anyway.
To me the show is much like the typical newsletter. You have to wade through a bunch of junk to find a few pearls of wisdom. I TIVO the show, watch it while surfing and fast forward through the commercials and some of the repetitive guests.
Kramer tickles me when he does a 180 in two sentences. EBAY is a good example. He ranted on his radio show about how terrible the quarter was and how the company mislead shareholders. He implied that he would never again consider the stock. The caller said, "Thanks, I will sell my stock on your advise" and the back pedaling was unbelievable. He immediately suggested the stock is likely to bounce. A day or two later on CNBC he ranted again about how awful the quarter was and then said at $75 a share he is a buyer. This is funny. The stock is selling at 41 times projected earnings and he wants to sell at $81 and a buy at $75?
TV is for entertainment and K&C works. Perhaps the value to the investor is in learning what not to buy. The show has spent much time on satelite radio, communications equipment (LU has been Kramer's favorite stock for a long time) and real estate.
Cramer is wrong on his stock market assessments more than 90% of the time. It is truly uncanny how frequently Cramer is wrong. His flip flops (at many times within the same day) are astounding as well) which makes one wonder if the man suffers from multiple personality disorder. Cramer is the Barnie Fife of the stock market.
Anybody that has read Cramer's columns indepth since 2000 or watched him regularly on television during that time frame or listened to him on the radio during that time also knows he is wrong almost always. Cramer is said contantly by himself and CNBC etc. that he is a stock market expert. The only thing Cramer is an expert at is showing the public how to lose money again and again and again.
Gordon
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