|Your best friend?|
This advice is just as apropo for traders, day traders, short term investors, long term investors, all of us. It never hurts to hear the advice below over and over and over.
CNBC can be your worst enemy. Ignore the Noise, the "experts" are wrong as often as they are right. They are no better than you or I at picking stocks. It is a fact that more than half of all fund managers under perform the index. At CNBC, they bring on "experts" and they present the most compelling, believable story for a particular investment that it seems like a no-lose proposition. It makes total sense! But they don’t work out any better than throwing darts at the stock page of a newspaper. CNBC knows this, but they need to fill air time, so what do they do? They bring on the "experts".
THE LESSON: The guys who come on CNBC to talk about stocks, work for someone or an institution that has a vested interest in whatever stock they are talking about. Everyone who comes on the show sees this as an opportunity to further their own agenda. That is their sole purpose. THEY DON'T COME ON THE SHOW TO MAKE YOU MONEY, THEY COME ON THE SHOW-SO THEY CAN MAKE MONEY.