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Just curious.
Have you ever made a financial decision based on something you saw on CNBC?
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Nope, mostly because I don't watch it!
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No, I figure people can see that themselves. I was just curious, because I was talking to a group of people this morning, and none of us had ever watched a cable financial show or made any decisions based on them, and didn't know anyone who had. But then, most of us don't have any money.
So it just got me to wondering who watches those shows. I have always read that it's foolish for the average person to try to beat the market, and I know that Barron's did a study that showed that Jim Cramer in particular has a TERRIBLE track record (like you would do much better with an index fund than taking his advice). Hence the poll.
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15,206 Posts
Nope. But I do have a finance degree so I'd read Barron's before watching a cable show.
I <3 Jon Stewart and I find the little "fight" going on to be hilarious.
I <3 Jon Stewart and I find the little "fight" going on to be hilarious.
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6,548 Posts
Ah. The JS clip was the first thing I thought of when I saw the question.
My answer is no, but like you and your friends I have no money with which to follow their advice. I do like to watch Dave Ramsey and Suze Orman though for the entertainment value. "I make $24,000/year, can I afford an Escalade?"
My answer is no, but like you and your friends I have no money with which to follow their advice. I do like to watch Dave Ramsey and Suze Orman though for the entertainment value. "I make $24,000/year, can I afford an Escalade?"
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I watch and I'm always happy to hear about issues that may effect my decision making, but I would never think "Cramer says to buy X" and go out and do it.
I'm more of a Neil Cavuto chick, anyway. I love his frustration with everything. He's the only person I've seen lately who is perfectly willing to tell a congressman or senator to their face that he thinks they are full of crap. I find that refreshing.
I'm more of a Neil Cavuto chick, anyway. I love his frustration with everything. He's the only person I've seen lately who is perfectly willing to tell a congressman or senator to their face that he thinks they are full of crap. I find that refreshing.
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16,129 Posts
FAIL
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OH great now I am sing the theme song....<why are people looking at me?>
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It's on at work here all the time. Obviously
Would love to shoot their cameras out.
Would love to shoot their cameras out.
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Hee hee. I do find it curious. I am not financially skilled at all, and I'm not even good with math, so I guess I assumed that I'm more ignorant than the average person. But then I'll hear someone call into Marketplace Money with a question like, "I got a raise at work and have some extra money. I also have $40,000 in credit-card debt. Should I use the extra money to pay down the credit-card debt?"
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2,242 Posts
No, I figure people can see that themselves. I was just curious, because I was talking to a group of people this morning, and none of us had ever watched a cable financial show or made any decisions based on them, and didn't know anyone who had. But then, most of us don't have any money.
I think Jim Cramer is as..... as a screen door in a submarine. Anways, I DO make financial decisions when he speaks, usually the opposite. I just can't stand him. He is so radical and we just don't need that type of "fly by the seat of your pants" decision making right now.
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Luckily, my statistical model anticipates such attempts at sabotage. Phew!
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I watch CNBC, I like hearing the guests speak and give opinions. So I guess the technical answer is yes, although never solely on what CNBC said.
I have it on now. Typically, it's my white noise channel. I'll have it on and listen to bits and pieces of it while I'm doing work.
I sense a new urgency to marginalize the network, though, sense Cramer, Santelli, and Kudlow have drawn the ire of the Obama administration.
I have it on now. Typically, it's my white noise channel. I'll have it on and listen to bits and pieces of it while I'm doing work.
I sense a new urgency to marginalize the network, though, sense Cramer, Santelli, and Kudlow have drawn the ire of the Obama administration.
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