Barry Ritholtz posted a list today of ideas for fixing financial television. Since my CNBC Boycott post generated some interest (I was interviewed for the fantastic recent CJR piece), I would be remiss in not balancing invective with coverage of some constructive comments.
I agree with every item on Barry’s list and I wouldn’t add any others, mostly because the list is already utopian. Given the business models of CNBC and FOX Business, it’s difficult to conceive of a world in which:
the…
Stocktwits is calling for a boycott of CNBC for tomorrow, February 3rd.
Of course no one actually watches CNBC, except in the way that hipsters drink Pabst and grow mullets and go to monster truck rallies. It is enjoyably kitschy to hear Larry Kudlow praise the virtues of laissez faire capitalism as if the last two centuries hadn’t happened, and to watch the flashing banner alerts and wonder at how our culture has become so addicted to primary colors.
But their crass aesthetic and…
We struggled for the one descriptor that would capture all of the below examples. Avarice? Incontinence? Duplicity? But surely these are the core virtues of advanced capitalism. No, the real problem that US markets are now working through is that the wise men of Wall Street failed on a merely practical level – they weren’t able to trick us and each other for long enough to ride out the storm.
Dick Fuld – the man of the hour, who said as…
The short-term bottom that formed on July 17 and the rally the following day were marked by incredible volume and by a convincing breadth reversal. Since then, volume has trailed off quite a bit (as you would expect). More importantly, even though the indexes have rallied up this morning off of their premarket lows, breadth has turned quiet negative, and the $TRIN, $TICK, and put/call readings are all flat-to-uninspiring.
We suppose the key question here is whether the markets will work…
These days, you can’t escape the public outcry: traders want their VIX spike, and they want it now.
Not too long ago, the vicissitudes of the VIX used to be the privy of a fairly limited group of options traders – those that had ears to hear, as it were. Now, if you hear or read phrases like “bear market,” “20% decline,” and “market bottom,” odds are that the phrase “VIX spike” isn’t far behind. Nevermind whether the increased VIX coverage…
Monday, June 8, 2009
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