Last week, we noted that Eric Bolling — the Admiral — had bolted CNBC’s Fast Money for Fox

Eric reached out to me to correct some of the commentary at that post. In fairness to him, I offered TBP as a forum for him to tell his side of the story.

In his own words, Eric Bolling:

"I want to thank you for giving me a minute to explain what has been going on. It was announced that I left CNBC during Fast Money tonight (9/4/7).

I wanted you and your viewers (web, tv, print) to know that I left primarily because of the amount of time the show was taking from my family. From the first eye-opener, very early in the shows development, a viewer emailed me saying that he bought ICE stock. I then realized the awesome magnitude of responsibility I was taking on. EVERY recommendation (aside from the producer elicited segments) I made was done with an enormous sense of responsibility. I spent literally hours upon hours researching, prepping and brainstorming for each show. I hate to be wrong- I am driven by the fact that some people are trading on my thoughts- some trades are winners and some are losers. I know, that’s the nature of the game but I want everyone watching to win (if you aren’t watching, you’re on your own).

In hindsight, I look upon the 2 years I spent at CNBC proudly. I had the opportunity to meet CEO’s, journalists and analysts. I was able to ask them tough questions and learn from them. I hope that I, in turn, gave viewers some insight into the psychology of trading- help traders get a sense of when to hold ‘em, when to fold ‘em…

I have no solid plan for the future except to try to spend more time with my son and wife…. the rest will fall into place. I will continue to correspond with most of the awesome people I met on this "wild ride"….Ritholtz, Cramer, Greenberg, Kass, et. al.

Eric Bolling, Admiral (ret.) . . . for now.

>
Thanks, Eric. Good luck in the future . . . 

 

Category: Financial Press, Television

Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data and lack of respect for scientific knowledge. Be sure to create straw men and argue against things I have neither said nor implied. If you could repeat previously discredited memes or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.

63 Responses to “Bolling on Bolling (the Admiral)”

  1. R. O'Connor says:

    We miss you Eric, but I’m happy for you…
    that you chose your wife and son over us.
    Life is too short…
    You always give us sound investment advice
    and we will be watching for you on fox:-)

  2. michael schumacher says:

    If he is, indeed, heading to Fox…BE A MAN ABOUT IT!!!

    You do a disservice to people who truly want to spend time with there family by using that as your excuse to not come clean on your intentions.

    And the story about the caller on ICE……come on give us a break…….you learned well on fake compassion day….

    Ciao
    MS

  3. Groty says:

    How responsible was it to say you shorted GOOG based on a dream?

    Why listen to conference calls, plod through SEC filings, and create projected earnings models when all that’s really needed for trading success is deep REM sleep, huh?

  4. rob says:

    Barry don’t know if you’ve gone on your vegas trip yet but thought you might be interested in this, you can take a flight in a Soviet MIG while you are there:

    http://www.prweb.com/releases/2007/9/prweb551237.htm

  5. jeff says:

    **If he is, indeed, heading to Fox…BE A MAN ABOUT IT!!!**

    Say wha?? You mean be stupid and publicly bust his no compete, just so he’ll have credibility among a blogs readers like you?

    **You do a disservice to people who truly want to spend time with there[sic] family by using that as your excuse to not come clean on your intentions.**

    News Flash: People you watch on TV don’t owe you jack squat.

    And not that it matters, but I am a big time family man myself… but I can’t fathom how my own personal life even tangentially relates to someone’s plans/non-plans to make TV appearances.

  6. Aaron says:

    I think this statement is a good one. I would think we can all appreciate that a man wants to have more time with his family, and that with the show’s popularity he was putting so much time in he couldn’t have much of a life outside of work. Keep up the good work Eric!

  7. VJ says:

    OECD: U. S. Could Go Into Recession

    The OECD expressed concerns about the knock-on impact on the world economy from the credit crunch triggered by the losses sustained by financial institutions as a result of defaults on home loans to Americans with poor borrowing records and said it could not rule out a recession if an imminent slowdown in the world’s biggest economy turned out to be worse than expected. “Downside risks have become more ominous,” the OECD’s chief economist, Jean-Philippe Cotis, said in a statement.

    The OECD has pencilled in a sharp reduction in the pace of growth in the US in the second half of 2007. “Our diagnosis is a slowdown. We cannot rule out a recession,” Mr Cotis said. The OECD admitted the credit crisis had taken it by surprise. “What we had not forecast was the extent of the spread of this financial risk beyond the boundaries of the US,” Mr Cotis said.

    Wall Street was taken aback by news that pending sales of already-owned US homes fell by 12% in July to their lowest level since September 2001. Ian Shepherdson, economist with High Frequency Economics, said the decline in the pending sales index in the past three months had been the steepest since the market started to turn down two years ago. “This is disastrous,” he added.

    More at Guardian
    .

  8. michael schumacher says:

    jeff-

    you miss the whole point……

    you are correct…..he does’nt owe me (or anyone else) anything. However his job is to get people to believe him with his analysis on why to buy or not buy a particular stock…

    At this point I don’t believe a thing he has said. And using the family thing is just so devoid of any creativity. It is akin to John Edwards using his wife’s illness to drum up votes. Only this time MR. Bolling thinks that people will believe the “family time” line……as if we retail plebs can’t figure out what he is really doing without HIS version.

    Sorry nice try….

    Ciao
    MS

  9. big fat mary says:

    he reminds me of Mr. Bean.

  10. KenC says:

    Despite some of the nasty things you people are saying about Bolling, the fact is he made money for me. Money as in cash, $’s, that I would not have had as a result of his suggestions.

    Eric — thanks, and 5 days a week is way too much for anyone. Can you maybe give us at least one day?? Please. My portfolio needs it…..

  11. Mike G. says:

    Dang! The guy tries to shed a little light on his situation and leave on a positive note and the haters come out of the woodwork! Sad.

    Best of luck Eric. If I had your money and wife the only Fast Money shot of me would be the live feed from an “infinity pool” in Cabo! (And with the time zone difference it would work out well!) *L* I can understand not wanting a nightly gig, but please do get Fox or CNBC or Bloomberg or somebody to really start getting into the commodities and options and charting for that matter. (Years ago CNBC used to have John Murphy. Fox has Gary B. Smith but frankly the graphics of their charts are horrific. )

    Good luck.

    Cha-ching!

  12. tom c says:

    ms- what’s with the vitriol? i’m sure he’s upset that you don’t believe him. what you believe or don’t believe is a problem for you and you alone. his job is giving his point of view, having an opinion, not getting you to belive anything regrdless of the fact that you do seem to believe just about anything that fits your preconceptions. anyone can see how important opinions are from listening to yours, i.e. not important at all. make me believe otherwise.

    ciao, my ass

    tom c

  13. John says:

    Eric, You’re the greatest trader I ever took advice from. Stay with TV. Investors need you. If you are going to FOX, they have found a treasure, and I am ready to switch with you.

  14. adam c. says:

    Haters and Trolls,

    The guy didnt have to come on here and use some class to set the record straight.

    Eric,
    Thanks for all the hard work you did on FM, for a developing young trader like myself your insights were invaluable. Sad to see you go. You will be missed.

    Adam Coleman

  15. Sandy says:

    Eric,
    I would like to say thanks to you for all the commentary on Fast Money, and you will be missed. I always enjoyed listening to your opinion whether I agreed with it or not, and I think you were the most consistent person on the show, though I enjoy the others as well.

    I understand the family thing as I left my job on Wall St. last year to do the same. Don’t worry what others think and do what’s right for you. Life is too short. It would be awesome if you entered the blogosphere like Barry and did commentary part time. Something to consider.

    Good luck to you and your family.

  16. tt says:

    Bolling is a class act and a very talented trader

    maybe some of the haters and trolls on this site would have a sense of decency once in a while ….. instead of always adjusting the Tin-Foil Hats to spew out their never-ending conspiracy theories and hate-filled diatribes …. get a life , pathetic losers

  17. KP says:

    Looks like Bolling is calling a Fast Money top. In that trade I think he’s right on.

  18. michael schumacher says:

    we shall see how truthful his statement about family is…….

    You all act as if this guy is any different than the thousands of traders who would sell their own family down the river if it made them a buck and you know it……..but I guess it’s different this time.

    There is no difference in what he has said than Cramer spewing forth his “it’s been done at places I have worked….but I would NEVER do it”

    no hate here…just reality and reading between the lines. You all should try it sometime…it makes things alot easier to put into perspective than just having something interpreted for you.

    Ciao
    MS

  19. Mike G. says:

    MS- “…just reality and reading between the lines. You all should try it sometime…it makes things alot easier to put into perspective than just having something interpreted for you.”

    So if he ever shows his mug on TV again I guess he was lying? Is that what “reading between the lines” is? I could see him being an occasional “contributor” or doing a one day a week think (like one of the Fox weekend shows) and to me that would not make him out to be a liar at all. Deny it all you want MS, but when I read between your lines, I see a hater.

  20. Mike.L says:

    Bulls & Bears with Eric Bolling in the mix, Yeah! Sounds like fun!

    The real reason Bolling left CNBC is because his crush Liz Claman is headed there lolol j/k

  21. Mike.L says:

    Is his name really Michael Schumacher? lol

  22. marco hunter says:

    The original Fast Money Four (Five with Dillan) were the best combination of viewpoints I’ve seen on any show on trading/investment.

    It’s too bad the faces are changing, though the new ones are also good.

    Thanks for sharing your time with us Eric! Hope to see you in the future somewhere.

  23. Mike G. says:

    Liz is fine, but I’m thinking she has little to do with it.

    http://www.traderdaily.com/asset/1306.gif

    :)

  24. donna says:

    Oh, I see – at CNBC he had to be responsible, at Fox he doesn’t.
    I guess that confirms how I feel about Fox.

    Thanks for clearing that up!

  25. San says:

    I have followed Eric for years. He has established himself as a successful trader. I doubt that he is doing tv for the money. Is it possible that he just enjoys sharing trading insights? Is it possible that he does value his family life? Besides, who wants to work all day and then all night too?

  26. michael schumacher says:

    Mike-

    So I guess you believe that it’s all “contained” right….

    Try using the same mentality and applying it to reality.

    I guess you did’nt know that.

    Ciao
    MS

  27. Mike.L says:

    Mike G.

    Bollings wife is fine too but did you know he has a real weakness to busty redheads?

    j/k lol

  28. Mike G. says:

    Mike L. – Don’t we all… Don’t we all… ;)

    Lord knows Buffet does!

  29. Mike.L says:

    Guilty! and ditto on Buffet! That dirty old man lol. He gives Liz the interviews plus I read he set up some sort of bookshop while she was there, selling her finance book.

  30. tt says:

    ban MS the hate-filled troll

  31. bucky katt says:

    Another top trader taught me long ago a few important words:

    Everything changes kid.

  32. John says:

    Come back! Come back, Admiral. You’re needed by us traders, by Fox, and even by CNBC. Bet they’re a sorry bunch now. Glad you had integrity. Don’t blame you for not wanting to give up nights with your family. You’re a good man, and the best trader on TV.

  33. tom c says:

    ms- Get over yourself, putz.

    chow chow

    tc

  34. Eric Bolling On Why He Left Fast Money

    Eric Bolling commented on his departure over at Barry Ritholtz’s The Big Picture: Bolling on Bolling. As I stated in a prior post, I thought Bolling was the strongest panelist of the group and had the most respect for him….

  35. adam c. says:

    “Everything changes kid.”

    Amen to that. Sound advice.

    “Looks like Bolling is calling a Fast Money top. In that trade I think he’s right on.”

    I think you’re right on KP.

  36. CDizzle says:

    I like Bolling quite a bit, opinion based entirely from what I saw of him on FM. I thought he made a lot of sense…presented well (especially from an informed/”likeability” standpoint).

    I watch FM and MM primarily to see what “sheep” retail investors listen to, and potentially invest on.

    Really surprised to see anyone who reads this blog allowing their trading fate to be determined by what they see on TV. Have the sheep just blocked 2000-2003 out of their qourds?

    I wish Bolling the best, he deserves it. Anyone who has not done explicit wrong deserves it. Those who bag on him, do so for more complex reasons than what meets the eye, IMHO.

  37. Becky says:

    I loved watching Eric. I appreciated his low key, thorough explanations. I hope he turns up on TV again somewhere. Eric, thanks for the good times!

  38. tt says:

    Faber and Kudlow are being courted by Fox as well

  39. Dk says:

    Eric wasn’t being truthful i agree with MS. fact is he was embarrassed to be seen with that Corky meets Mr. Clean J O Jeff Macke. I feel your pain Eric and smart move on your part-

  40. RobT says:

    Macke is a good guy and on Minyanville. I think hes turning bearish. eric apparently sold a seat at the merc for a stupid low price right before they went public.

  41. RobT says:

    Jeff kass has some rumors of a kodiak bear going to fox

  42. michael schumacher says:

    When Eric Bolling is plastered all over FOX in about a month’s time his flimsy excuse of family time will be even more laughable.

    Too bad none of you people see that.

    with very few exceptions traders are ALL the same……..

    Ciao
    MS

  43. Mike says:

    The hate just keeps on commin’! Give it up already. Look, I don’t know what he’s doing and I’m not losing sleep over it either way. But if he should pop up on Fox or anywhere else, that doesn’t necessarily mean he’s a liar. It is VERY possible to be on with a schedule that fits in better with whatever time constraints he’s got. He could do a 5 minute spot every few days during trading hours. He could do little vignettes like the Dirty Trade spots he did on FM. Whatever! Get a dog. They’ll love anybody. Find inner peace.

  44. Faux News says:

    So, here we have a fellow who:
    1) Yearns desperately for more (not less) family time, and
    2) is under a contract that includes a non-compete clause.

    And what is the first thing he does after leaving?

    Why, of course! He runs – not walks – to the nearest (other) TV studio, thus landing himself in court!

    Mmm hmm. I see. It all makes perfect sense now.

  45. Mike says:

    You’re using the Alan Colmes approach to a rational world here. Take any remotely “similar” situation to the one being talked about and find ANY level of incongruence between that example and the original thing you’re talking about and if you can find it, claim that the incongruence makes the original statement an impossible one to have.

    Boy, you really have to live in a world of absolutes to buy that “logic”. Because a 5 day per week NIGHTLY job is interfering with his family time, somehow showing up on Cavuto’s show ONCE during the DAY (the normal working day for most of us) somehow makes his claim untrue? Are you insane or just desperate?

    In any case, would you argue that it is totally unreasonable to think that in the future the man will in all probability have much more time for his family (in whatever balance he chooses) since he won’t be tied up 5 nights per week? Because for your “logic” to hold, you have to be saying that it is a virtual impossibility that he’ll have more time available for his family if he isn’t doing a nightly gig.

  46. Eric Bolling is a class act. I have nothing negative to say about the man. He was the best of the Fast Money guys.

    The media business is tough and nasty place and you have to look out for numero uno, period! I don’t care where Bolling ends up next, but I hope I can continue to listen to his views on the market. I don’t see the need to be rude about his move.

  47. Bill Mahar says:

    I have enjoyed following Eric’s comments and picks. While I’m disappointed that he left FM I understand. He had a trading business as well as FM and the family.

    I hope he’ll be on another program as I appreciate his insights.

    Best regards.

  48. Mike.L says:

    It was probably a combination of alot of things, family, being with a winner – Fox Biz, ideology, better work hours or a higher profile show, least would probably have to do with money and oh yea Liz Claman lol.

    TVN reported that he was on Fox & Friends this morning.

  49. BollingFan ;) says:

    If Bolling did indeed leave to spend more time with his family he would have mentioned it on the show rather than in a blog. He also would not have shown up on Fox had he left on good terms. If anyone followed his Natural Gas recommendations this year they are probably living in a cardboard box by now and even that is in danger of being repossessed. The fact that he ever gave recommendations to trade a market like Natural Gas to the general public shows that he didn’t feel a sense of responsibility at all. Also, the fact that he was saying to buy it in the spring when it was trading over $8 and he said it was going to $12 or something shows that he is a lousy technician. There was serious resistence around $8.50 at the time that had been developing for months and he should have known that. Floor traders are lousy technicians by enlarge and Bolling is no exception. His discussions of patterns on the show was a joke. He’s a typical meat-head floor trader who made money mimicking the trades of others. He does have the ability to handle pressure, I will give him that. His mentioning that he thought the Nymex was going to be bought out I think had something to do with his leaving. It was shortly after he said it rather adamantly (and then added that he didn’t any inside info.) that he left the show to “spend more time with his family.” Maybe he was trying to cover his Natural Gas losses by pumping up Nymex shares. So long Mr. Maybach man.

  50. Stockfan says:

    Sounds like someone has some gas pains…

  51. Jason says:

    Ah yes, the old “more time with my family” line. How stale is that? Give me a break. We aren’t that stupid…

  52. Donald W says:

    I am I Nymex member (sept 1986). Although I can’t say we are friends, Eric has always presented himself to be a gentleman. He has
    always taken the time to explain exchange issues to me. Due to the result that I found Nybot a better fit for me. If anyone has
    attemted to get info from Nymex web sight-Lets just say 5 minutes with his time kept me abreast of issues.
    If the man says he wants more family time , that is exactly what
    he is doing. How do I know? I saw him at the mall with his wife and son. None of the bags were from mens store. Better man than me. So you can state how stale or full of crap story might be, when is last time you went to the mall with family ( Does not include holidays) ?

    Give the guy a break unless you have put more time working to
    put us where we are today. I don’t have to work anymore because of his and others efforts.

  53. Daryl M says:

    Does anyone know if Bolling has has his own blog site?

  54. Daryl M says:

    Does anyone know if Bolling has has his own blog site?

  55. Eric is not a public servant; he’s a private indivudal who has every right to do what he wants to do. I can tell you from personal experience that there are plenty of people out there in cyber-space who will make a big money bet on a stock just because I say I like it. I hear from them all the time — particularly when a favored stock disappoints…and I’m not even on TV! I can only imagine the kind of vitreolic email that he receives from disgruntled viewers (makes some of the condescending commentary above this post seem almost benign. Almost!).

    Irrespective of whether Eric is really leaving to spend time with his family (I actually heard that there are some contract issues that preclude a clean break from CNBC to Fox — but it’s really none of my business, is it? Nor is it anyone else’s), or whether he’ll ultimately wind up at Fox…either way, just wish the gentleman well and be grateful for the opportunity to learn from one of the best in the business.

    Dan Fitzpatrick
    http://www.stockmarketmentor.com
    http://www.realmoney.com

  56. ChicagoMemories says:

    I worked with Eric at the job he fails to mention, Mobil Oil, in the early 80s. Unlike the way he has described himself, Eric came from wealthy parents his sent him to one of the most exclusive private colleges in the country, Rollins College. He drove a BMW during the Mobil Training program, back when NO ONE had BMWs–and of course his parents had bought him that, too. Had a severely pock-marked faced back then, from cystic acne.

    Eric wanted the big bucks so he quit Mobil and went to Prudential as an oil analyst, and then he left there and reinvented himself. He is an indictment of the American success story–which is to make your past look like Horatio Alger, tell the story over and over to the point where people believe you and wallah, the story comes true.

  57. Nick says:

    MS,
    Maybe he is just going to switch to FOX, but how do we know its not because the new gig will allow more time for his family and provide more money? Who knows? In my opinion, he and Tim Strazzini were the smartest ones on the show. Too bad they’re gone.
    - N

  58. Holly Charles says:

    All I can possibly add to this is Eric made me money and isn’t that what its all about. I only watch Fast Money occasionaly now and I miss him a lot. Loved his use of charting and explanations and felt he was the best on any of the shows. He is truly missed. I will watch Fox only when he shows up and I hope that is soon! Best to you Eric.

  59. Rod Davis says:

    I think everyone on the blog needs to take a step back and realize than any advice you got from Eric or anyone reputable on TV is a blessing. Personally, i learned everything I know about Agriculture and Metals because of Eric’s analysis on Fast Money. It is the reason we are doing so well in trading options in these companies, so as far as i’m concerned, I think he did a great job and look forward to his continued efforts wherever it may be. For whatever reasons he left CNBC, so be it. He’s a grown man,he can do whatever he wants to do, he owes me no explanations. I would just ask that you make us aware of where you will be in the future. Thanks

  60. Mike G. says:

    I can’t say that I’ve ever heard him tell a rags to riches story or that I care about the details of how he got where he is. He has been graded by the most difficult, unfeeling, uncaring judge there is – the markets, and the guy is one rich dude. I’m thinking he just may know what the heck he’s doing.

    I can’t say that I care why he left CNBC and went to FBN (FBC?) either, but I have no reason to doubt the man. HE DOES NOT OWE ME (or you) justification for a job change! He’s a tv analyst folks! You either value his FREE advice and take it or disagree with him and either do nothing or bet against him. That’s what makes a market.

    My $.02

  61. Andy Voss says:

    While I still enjoy watching the Fast Money program, It has lost it’s finest contributer. (In my opinion) Erics advice was more actionable than that of the other panelists. I wish Eric nothing but the best in whatever he decides to do going forward. With that said, As an individual investor, I hope that Eric once again positions himself somewhere where I & others can once again benefit from his experience & wisdom relating to the markets. While I’m a big fan of CNBC in general, I cannot think of anyone that could get me to change the channel to FOX faster than the Admiral ! I understand CNBC’s need to have the no- comp clause, but it leaves a bitter taste if it is keeping Eric off the airways.

  62. Gene says:

    I understand moving on to greener pastures. But going on FOX and drumming up the bet with Cramer is a little low.

    Add to that, the host trying to put down Cramer (your friend)…hmmmm

    I take Cramer for what he is.

    I really enjoy fastmoney with or without Bolling.

    But Bolling, if you were really a buddy of Cramer’s, don’t let FOX put you in a situation where all you are is someone who beat Cramer on a bet.

    FOX doesn’t have a chance against CNBC imho.

  63. maggie says:

    Eric, you thought CCJ was a good buy. I have lost so much money in ths stock. Is it ever going to come back? Should I sell if there is no hope.