Thursday, August 14, 2014

CNBC... dumb as toast at times

 The Mad Money guy, Jim Crammer, seems to have taken over some morning show that I happen to catch on Sirius XM on my way to work. It is wall to wall Jim Crammer though it appears to be a discussion panel of sorts. You might find this annoying until you listen to the analysts without Jim Crammer around.

Sometime in the afternoon (a few days ago because I kinda hurt my back and forgot to post about this when it happened) there was a "segment" on how Citi had chosen Pottery Barn and Williams-Sonoma as good "back to school stocks."  They went over how the traditional back to school stocks were not fairing well, like Office Depot or somesuch.

But... they could not figure out why Pottery Barn and Williams-Sonoma could be "back to school" stocks and ridiculed Citi for the picks. Wondering how mothers would wander into Williams-Sonoma for back to school supplies for kids. I admit, it took a good 30 seconds for me to get it but they went on for 5 minutes or more through probably 4 professional analysts who had no clue at all.

So figuring that the standard school supply stores were not going to fare well for whatever reason... why wouldn't one also see that colleges and universities were back in session. Might  kids, parents, and college students need things for their dorm, and new apartments, (freshmen need things for sure) and well... it was obviously a point that should have been made.

They did finally stumble across Pottery Barn Kids as a possibility.. but not enough for them to continue their ridicule without any insight beyond elementary school and high school purchases.

I don't know if I am right but I feel CNBC be this lost without Jim Crammer. This is not to say that Jim Crammer is brilliant but at least he has a presence about him, is willing to think, perhaps change his mind, and is always well researched.

Again, I don't know if I am correct based on my pitiful 10 minutes here and there but... CNBC... you guys are dumb as toast.  And when other times you start talking politics... well... dumber than toast.

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