Comments on: On Financial Advisors Watching TV

By: Financial Quote of the Day « The Reasoned Review

Financial Quote of the Day « The Reasoned Review — Sat, 23 Jan 2010 06:14:01 +0000

[...] a comment » Hat Tip to The Big Picture: “Isn’t it funny when you walk into a investment firm, and you see all of the financial [...]

By: Doug D

Doug D — Fri, 22 Jan 2010 19:23:44 +0000

What do you call Investors that listen to CNBC talking heads? BROKE!!!!!!!!!

By: plantseeds

plantseeds — Fri, 22 Jan 2010 16:06:13 +0000

Great analogy, so true! Although I agree that most probably don’t heed investment advise spewed from CNBC and view it only for the line of the day/talking points to impress clients or they block it out all together (based on my own experiences) although you never know. CNBC has been on in most offices since it started.

IA shows up for his first day just after the bell….

IA: This is a brokerage office, I can see CNBC playing right there.
Office Manager Mr. Hand: Really?
IA: May I come in?
Office Manager Mr. Hand: Oh pleeeaase. I get so lonely when that bell rings and I have no Investment Advisors to talk to.
IA: Sorry I’m late, the market schedule is so confusing…..hey…(IA points to another brain dead fool) I know that dude.
Office Manager Mr. Hand: Investment advisor Spicoli……
IA: That’s the name they gave me.

I would suggest that some IA’s in the industry try paying attention to CNBC, every once in a while they might get lucky which may actually be an improvement over the proprietary research that is Mr. Handed out to some of the brainless tards.
Ouch.

By: Greg0658

Greg0658 — Fri, 22 Jan 2010 14:06:49 +0000

rock’n'roll took a siesta .. we 60′s generationers gotta have background of our lives on .. might as well be the soaps of the real real world .. how much it sinks in depends on IQ in my opinion .. & why tv works

http://en.wikipedia.org/wiki/Siesta
http://en.wikipedia.org/wiki/Iq

By: bangkokproperty

bangkokproperty — Fri, 22 Jan 2010 06:53:19 +0000

Great observation, reminds me something of Lemmings!

By: foxmuldar

foxmuldar — Fri, 22 Jan 2010 05:21:01 +0000

Just because they have CNBC on the tube, doesn’t mean anybody is watching. I bet most are twittering or checking out their facebook page. The guys maybe be watching to catch a little clevage on some of the info babes. Remember the days when looks didn’t matter that much. Now you best have a nice set of jugs if you want to get a decent spot in front of the cameras. How much of a brain does it take to stand in front of a group of screens that show the movement of different stocks. Just look sexy and point to the wall. Say GS is up again and don’t forget to mention those green shoots.

By: wunsacon

wunsacon — Fri, 22 Jan 2010 04:26:55 +0000

I can’t imagine paying attention to CNBC so long as Bloomberg videos are available.

Then again, I don’t work in the biz. So, what do I know…

By: ToNYC

ToNYC — Fri, 22 Jan 2010 03:15:27 +0000

Not for nothing, but I absolutely love hearing CNBC is the popular channel. I suspected as much having spent way too long, almost decades on the Street in one firm but am glad to hear it is widespread. I use it as a foil, a spitoon, a silly farce, a tale told by idiots, signifying nothing. Nice to hear the the phone-in beaucoup moolah accolades to Cramer…enjoy what you see, that they got! With gratitude, BR.

By: dr.j

dr.j — Fri, 22 Jan 2010 02:12:54 +0000

CNBC IS a source of both contrarian commentary and news that individuals BELIEVE.

Knowing what the masses accept as fact is helpful when talking to them. Of course, anyone who keeps it on all day is either too lazy to turn it off, in need of ritulin because they clearly are overstimulated and need help focusing, are teenagers, self delusional or just stupid.

Do not underestimate how powerful CNBC is with main street. The commentators encouraged buying tech in ’99/00, panic post 9/11, selling before the war in March ’03, buying real estate after that with countless shows about how prices are going up, up, up. Touting bond funds in the last 6 months based on trailing 12 month returns. And finally, how many of you have heard someone say how great K/Cramer is. Jesus. They actually pay attention to CNBC and it is helpful to know what they are being told. And so the lambs are led…

By: Doc at the Radar Station

Doc at the Radar Station — Fri, 22 Jan 2010 01:49:39 +0000

“Isn’t it funny when you walk into a investment firm, and you see all of the financial advisors watching CNBC — that gives me the same feeling of confidence I would have if I walked into the Mayo-clinic or Sloan Kettering and all the medical doctors were watching General Hospital…”

Excellent! Love this post. I think that rolling dice or using a Ouija board would be about as effective at investment advice compared to these people…. haha