Important observations from Doug Kass about FinTV:

“By and large, the media have an agenda that is different from yours. It doesn’t make them bad guys — their objectives of a growing audience and higher ratings are inherently dissimilar to your objective of making money.

Moreover, as I have recently chronicled, the media’s reaction to events of the day (e.g., the sovereign debt crisis, the Presidential election, the fiscal cliff, etc.) is often hyperbolic and simply wrong-footed (from an investment standpoint).

Always remember that they are in the press box, and you are on the playing field.”

Too many investors forget this.

It is worthwhile reminder of the Price of Paying Attention.

Category: Financial Press, Investing

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.

11 Responses to “QOTD: Financial TV”

  1. Petey Wheatstraw says:

    Always remember that they are in the press box, and you are on the playing field.”

    You are the ball.

  2. rd says:

    Also remember that if they really knew what they were talking about, they would be on the playing field not in the press box.

  3. denim says:

    What makes them bad guys is for them to propagate mendacious he said, she said reporting as fair and balanced journalism. Slipping wrong headed opinions into articles without alerting the reader that it is an opinion, does little to advance the truth of the matter.

  4. Bob A says:

    I’m putting a picture of Maria on my dartboard on top of the picture of Cramer on top of the picture of …

  5. contrabandista13 says:

    I agree, totally hyperbolic, sanctimonious, ideological, fear based, feel good, Bull Shit… Unfortunately, for most people, the only place where you can buy a good “filter” for this, is on Wall Street and it takes about 5 years to install and another 10 to master it… :-)

  6. RC says:

    Thats a great quote. Doug Kass shows what clear thinking is all about.

  7. efrltd says:

    Pretty well explains politicians, especially the Honolulu kid, O’, doesn’t it?

  8. jacobsk says:

    ditch cnbc and watch during trading hours. they got great trader related programming.

  9. algernon says:

    2 examples of the media having an agenda:

    The coverage of the Connecticut tragedy is all emoting & gun control. The facts of what actually happened & the details behind why whoever did it did it are virtually uncovered, as if there is nothing to be learned. If it doesn’t further the political agenda of gun control, it isn’t reported.

    All of the discussion of the F. Cliff focuses on increasing taxes, virtually none on the complete absence of actual spending cuts.

  10. Lyle says:

    Barry catches it correctly the media’s objective is to get you on the channel to watch the adds they will show pure and simple. CNBC must feel it has to compete for an audience with Fox Business News and so acts the way it does. Much of their coverage should have editorial stamped all over it. Clearly CNBC feels Rupert is the one who knows how to make money in the media.

  11. louiswi says:

    Don’t forget-”TV free in two oh one three”!

    There is only 168 hours in a week-all there is and all there ever was. Don’t let those media bastards steal so much as one precious second from you. Their agenda truly is not remotely related to your agenda.
    Happy 2013.