"CNBC's Season In Hell" reads the headline in today's MarketWatch, where Jon Friedman laments the lambasting of certain personalities on that channel that have gotten a rough deal in recent weeks. And whether or not Jon Stewart, FBN, or Jim Cramer himself is to blame, there is one thing Friedman is sure of: CNBC had four setbacks in year's first three months.
So why is the financial network doing better than ever?
According to TV Newser, CNBC (as of March 31st, well after the Cramer/Santelli incident) "had its best first quarter since 2001 in Total Viewers (332,000) and the best first quarter since 2007 in A25-54 viewers (96,000)." During the business day, there's been an 8% increase in viewers.
So why all the fuss about CNBC being in trouble? Is that just the general zeitgeist-y opinion, or could it be that Market Watch (and Friedman himself) fall under News Corp.'s umbrella, along with CNBC's main rivals, Fox Business Network? Then again, Friedman makes no bones about his affiliation to Dow Jones, so the third option here is that he's a well-meaning idiot, who doesn't understand the difference between a station's "reputation" and its viewership. Although, coming from a company that owns Fox News, he would be remiss not to.
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Jim Cramer declared the depression over and set himself on the course of Obama ass-kissing for the rest of this year.
332,000 viewers out of approximately 33,000,000 investors holding 4 trillion shares of stock (NYSE) = 0.01% of the investing public pays attention to CNBC and Cramer, not impressive.
In the analysts circles, a person who can make the right call 51% of the time is considered a God. Cramer is in the mid-to-low 40%.
Would you put your life into the hands of a doctor who gets it right 40% to 50% of the time? Yet people will hand over their lifes savings to these financial charlatans without batting a eye. HUH??
Just like PT Barnum said, there is a sucker born every minute!!
DTOM - hang on to your money!
@fanofgrendel: @DONT TREAD ON ME: Do you two ("fanofgrendel" & "don't tread on me") have jobs!?!?! I mean we all comment on some of these stories…but you two comment on just about every story religiously. Do you not have husbands, wives, or effeminate gay male lovers? I imagine that you both have really bad acne and are severely overweight with bags of double-stuffed oreos by your bedsides. Just like you can't eat your feeling away…you can't use these sites in place of a healthy lovelife. I'll pray for you both.
@brew50: I wonder why the "Small mind enters room," alert kept popping up on my screen. Cheapdrunk50 is here.
Hey genius, can't speak for fan, but stopped I listening to idiots, wrote a book on investing and made millions. HA! Now I can afford to do what ever I want to! I can even waste my time responding to your flatulent rantings.
Go back to your Schlitz Malt Liquor stupor.
DTOM - (God, will they ever go away)
@DONT TREAD ON ME: I retired after I purchased a Cheetos Factory and made off with a lifetime supply of the inventory.
That's the little lady in the tub.
Fan,
You out-did yourself on that one! LOL
To Brew50- you submit WAAYY more comments than I do. How is YOUR love life? :-P
@DONT TREAD ON ME: Wrote a book and made millions…and now you hang out at this website constantly submitting remarks. Sure you did baby. Pleasant Dreams.
@brew50: I would have pity on you if you were pitiful but alas, irrationality is of ones own making.
Sorry to disappoint you, but I do not hang out here. I just drop by ever so often in search of intelligent life. You are not one of them.
DTOM - if brew-tool only knew