Saturday, December 18, 2010
Fast Money traders on CNBC
FAST MONEY is the biggest hoax of a show in the investment advice industry aside from JIM CRAMER'S. CNBC is starting to see how big trading is becoming to the everyday viewer because of the brainwashing attitude that swept the world after the 2008 debacle. Many people have adopted the theme of trading and holding for very short time periods because the attitude is that "You don't know what might happen tomorrow." This is the most ridiculous thing that has ever hit the psychology of investors. The fact that the sub-prime mania didn't catch on overnight and it took time for the hysteria to get out of control and be exposed, the collapse was also a building momentum to the downside before the final panic swept investors around the world. People had plenty of time to do research and find out what was happening but the sheep and majority of people were drunk off the punch. The fact that traders can so called make decisions inside of a 5 minute period and call that business decisions is pathetic. What if these corporations started making business decisions that only took 5 minutes to decide upon and when their ideas failed they just said "Oh well that one failed, we'll just get the next one right." That would be the biggest waste of money and I'm sure shareholders would not trust the company going forward. On one hand CNBC is touting trading the market, and on the other hand they are promoting these one time lucky traders that I can almost guarantee don't make any money for their own portfolios. CNBC is able to do this because of the crash we had in 2008. This is the most ridiculous thing that has ever hit the psychology of smart individual investors that if just did their homework on a company can have a greater chance at financial success then these gambling FAST MONEY traders.