Ratigan says CNBC-ya
Most recently, co-creator and host of Fast Money Dylan Ratigan left General Electric 's (NYSE: GE) CNBC in a bit of a dust-up. Ratigan, co-anchor of The Call and Closing Bell,
was widely seen as an up-and-comer at the network. Reasons for the
exodus seem to center on alleged ongoing disagreements with a network
VP and the terms of his expiring contract. Ignoring the salacious
details, his exit may be another sign of a growing shift in both
financial news reporting and investor mentality.
Ratigan's exit comes on the heels of Jim Cramer getting clobbered by Jon Stewart,
as well as the Huffington Post's attack on anchor Mark Haines. It's not
just coincidental that Ratigan sidestepped a large share of the heavy
criticism being levied on the financial network. Despite co-creating a
show comprised of the words "Fast" and "Money," Ratigan has been one of
the more thoughtful on-air interviewers at CNBC, as evidenced by his
unrelenting style of meticulously asking questions. His departure is a
loss to CNBC as the network seeks to maintain relevance, providing
commentary on a game that increasingly feels fixed to battered
investors.
A little less action, a little more conversation, please
It's
been quite clear that Main Street's quarter-century infatuation with
the stock market is quickly eroding into something resembling a daily
visit to the dentist. Investors have gotten hurt, are nursing serious
wounds, and probably need to slow things down a bit.
Don't get me wrong: I don't think that shows with bells, whistles,
graphics, and rapid-fire segments are inherently evil. However, they do
mislead the average viewer into thinking that speculating is the same
as investing. Rarely do they draw the distinction that while
speculation is for fun, investing is for life.
In its defense, the lead financial news network does produce some
noteworthy content. For instance, David Faber has co-produced a series
of award-winning documentaries on the likes of Time Warner (NYSE: TWX), Wal-Mart (NYSE: WMT), and eBay
(Nasdaq: EBAY). While retrospective insights into large-cap companies
won't give you new information you can use to beat the market, they can
add some long-term color to your investing knowledge -- especially for
companies that have fallen out of favor and can be bought on the cheap.
Promisingly, the network offered The Big Idea, a motivational show highlighting mostly private growth companies. In addition, its sister channel, MSNBC, has the American Express (NYSE: AXP)-sponsored Your Business
program, which provides a wonderful forum for discussing the
ground-level experience of both struggling and successful small
businesses. Sadly, The Big Idea is reportedly on an indefinite hiatus, while Your Business is relegated to an early-Sunday-morning time slot ideal only for roosters looking to cluck their way to the top.
A bright spot on the network is Suze Orman. While she didn't foresee
the financial meltdown, she has been the Nouriel Roubini of consumer
overspending. For years, Orman has called on Americans to stop living
the lie of spending beyond their means and extricate themselves from
debt instead. That may be bad news for companies like Visa (NYSE: V) and Bank of America (NYSE: BAC), which rely on growing credit card use for profits. But these principles are central if you want to get rich and stay rich.
Don't settle for run-of-the-mill financial chatter
I
believe we get the returns we deserve. Volatility and speculation
packaged as entertainment is what helps create buying opportunities for
the Foolish investor. Great returns don't come from "lightning rounds"
or "pops and drops." Superior returns come from thoughtful,
investigative research and critical analysis.
Finding great value stocks requires constant searching, even if it
means looking far and wide to get the inside scoop. So, choose wisely
where you get your facts, shut out random noise, and focus on acquiring
investment knowledge that really matters.
© 2009 UCLICK, L.L.C.
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