There is a wonderfully entertaining Mark Cuban rant out concerning CNBC, fund managers, and why people shouldn’t own stocks. The full piece is here, but a clip follows to give you a sense of the wild-eyed thing:
Why do people fall in love with stocks?
I love going on CNBC. All day long all the so-called experts parade through the studio or satellite feeds and let fly
with their best sales pitch.
They may be selling a stock, the direction of the market (I’m so bullish or bearish), or themselves, but they all
want you to buy something. Of course they offer the obligatory disclaimer of what they own, or who is paying them, as
if it’s a bullshit enema. It doesn’t change reality. CNBC and its competitors have become shopping channels for
stocks, bonds and mutual funds.