Wednesday, October 18, 2006

Heads Up: CNBC Appearance Tonight

Just found out I'll be on CNBC's "On the Money" show around 6:00 PM Central Time, with host Dylan Ratigan. We'll be talking about investor psychology and Dow 12,000. Should be fun!

12 comments:

D TradeIdeas said...

Excellent! Good exposure on one of the few quality shows/segments aired on CNBC these days. Faber is the other one.

Break a leg!

Maybe show up with a crystal ball and a Karnack The Magnificent costume if they start asking about Dow: 13000 or 11000 - which is next?

adam said...

you'll need a nickname, like Lone Coyote or something.

Wait a sec......that's Fast Money, lol.

GOOD LUCK

david said...

Happened to catch your commentary on "OTM", and found it very informative...I had previously heard of you thru web searches, interested in trading full time ect, and had your web site/blog saved, so, I paid close attention when I heard you were on. Gave an interesting spin to the program I thought.
fwiw, an aspiring trader

Brett Steenbarger, Ph.D. said...

Thanks, David. CNBC is in the tough business of balancing entertainment and ratings with financial journalism. Not easy. I did offer to do a segment psychoanalyzing Jim Cramer, but so far they haven't taken me up on it... :-)

Brett

Brett Steenbarger, Ph.D. said...

Great idea, Adam. I tried thinking of nicknames, but concluded that any segment I do should be named "Shrink Your Portfolio"... :-)

Brett

Brett Steenbarger, Ph.D. said...

Thanks for the feedback, David. I enjoy doing shows, but find TV particularly challenging, given the limited time available to provide information. Maybe it's time for a "Dr. Phil for traders" show...perish the thought!!

Brett

yinTrader said...

Hi Brett

If it is for 19 Oct 6pmET, Singapore is ahead by 12 hours ET and I would have missed it. Hope there are repeats on CNBC.

Will see if I can catch you 'shrinking' on celluloid!

All good wishes
Ana

Brett Steenbarger, Ph.D. said...

Thanks, Yin. I think I'll stick with being a shrink in cyberspace... :-)

Brett

Sabretache said...

"CNBC is in the tough business of balancing entertainment and ratings with financial journalism. Not easy. "

Brett

Nicely put. Same goes for most of the MSM broadcast media IMHO - 'Financial Entertainers' is a good fit. Just mind you don't get tarred with the same brush :-))

Their big problem is that there's fundamental stuff they simply won't touch (other than to rubbish or ridicule) - got to keep the paymasters and TPTB happy dontcha know - which means the general thrust must be to reinforce the Wall-St Cheerleaders. Frankly, with all the hype, I was rather surprised they didn't throw a bit of a studio party and break out the bubbly when the DOW broke 12K the other day - saving it for the inevitable close above I guess.

OK - they're necessary (ish) for the day-trader, if only to keep tabs on populist market sentiment and get all the market moving News as it happens without paying an arm and a leg for it. But the advertising - Groan.... there are few which I must have endured several hundred times - Enough to make you want to smash the set sometimes.

Brett Steenbarger, Ph.D. said...

Hi,

I have to say that I've met a couple of the on-air folks at CNBC over the years and find them, as a whole, to be dedicated and concerned financial journalists, even as they are mindful of the need for ratings and the value of entertainment. The bull market hyping, the ads, the hyperactive pacing of segments--yes, I also find them excessive. The arbiter, in the end, however is the marketplace. When I helped program radio stations by conducting listener research, I learned quickly that what people wanted to hear was not what I thought was good music. It's at that point you have to decide whether you're in business to serve your needs or those of the consumer--and how you might find rapproachement. Not easy in any business. Thanks for the note--

Brett

Sabretache said...

Brett

You'll have noticed that my view of 'The Establishment' is pretty jaundiced.

OK many - even most - MSM journalists are competent and trying to do a good job - but their positions and livelihoods are dependant upon the goodwill of the 'The Establishment' which includes the owners/editors of the likes of CNBC and Bloomberg, and they will therefore (understandably enough) trim and tack accordingly.

I have yet to hear/see any serious coverage of such things as the remit and effects on markets of the 'PPT' - Working Group on Financial Markets - or the relatively new Goldman-Sachs-driven-with-FED-approval 'Counter Party Risk Management Group' for example. Or what about the Amaranth $6 billion debacle? Up there with the likes of LTCM which we are told nearly brought down the worlds financial system and yet - JPM and the Feds come riding in and what happens? - silence that's what. I could go on - the US current account deficit for August being some $2.5 billion worse than reported if a certain itsy-bitsy 'Gold Swap' transaction with the BOE is excluded as an 'export'.

So much of what goes on and REALLY affects market fundamentals simply occurs under the radar of the MSM - and their radar is configured like that quite deliberately IMHO. So for me, they're still largely 'financial entertainment'

Brett Steenbarger, Ph.D. said...

Hi,

I, too, would like to see more investigative financial journalism accompanying the entertaining stock picking shows. I do think CNBC does a reasonable job of tracking economic fundamentals and bringing on guests with different perspectives. For the record, I felt no pressure whatsoever during my interview prep re: conforming to a particular message. If there is a pressure to placate the powers that be, it didn't filter down to my (lowly!) level. :-)

Brett