Word: cnbc
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Dates: during 2000-2009
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Skip the analyst conference calls. Turn off CNBC. If you want to be a savvy investor, curl up with a 10-Q instead. Such is the advice of veteran financial journalist Michelle Leder in Financial Fine Print: Uncovering a Company's True Value. She doesn't expect you to read all 300 pages of a company's financial statement or try to comprehend complex derivatives. The most crucial section is the footnotes, where many companies bury bad news. An attentive reader can spot the red flags: inflated growth assumptions for pension assets, a subsidiary controlled...
...sums of money, the twisted “how does this affect the markets” bent taken on every piece of reporting—but most of all, I just love the constant stimulus. Everything is newsworthy. And unlike the other cable news networks, the financial focus of CNBC provides a guarantee that I’ll never find myself watching petcare tips from the pros or how to prepare a wicked bouillabaisse. On CNBC, they’ve found something happening somewhere, and somebody’s making money off of it. I want to know all about...
Like any addiction, though, CNBC leaves carnage in its wake. Just as a chemical addiction can wreak havoc upon the body, my drug of choice has overtaken my life, carving out a path of missed deadlines, assignments undone and obsessive schedule manipulation—no section, problem set or Crimson editorial board meeting can come between me and “Kudlow and Cramer,” the financial news talk show hosted by über-preppy ex-banker Larry Kudlow and über-smart ex-Crimson president James J. Cramer ’77. I frequently...
...live on the edge of bankruptcy and make money through a fortuitous combination of dumb luck and insight. If that world still exists, it’s hidden behind a veil of polished, telegenic professionals who parade through studios around the world making their pitches to the investing public. CNBC treats these people as if they were sports stars, changing the financial news day into an extended telecast of a high stakes spectator sport...
...CNBC went off-line this weekend as they suburb-hopped into a new headquarters in New Jersey. Thankfully, a pastime more commonly regarded as a spectator sport was heating up, providing me with another way to fill my free time and saving me from a weekend of cigarettes and the shakes. The playoffs were my methadone clinic...