Hot Stock Picks for a Rallying Market -- Our Response to a Huffington Post Blog Entry (Part 2)

A couple years ago, it would have seemed unthinkable for me to orchestrate a defence of the financial news media. The thesis of Solin's blog entry could easily have been mine.

Granted, pundits try and predict where the market is going and what the public should be doing with their money. They peddle their education as a means to win credibility and identify themselves not just by their names, but the firms they are promoting. With this, the public gets their perspective, and, although the hard way, they fortunately are learning to take it with a 'grain of salt.' Bob Doll at Blackrock, Solin's example, does put himself and his firm out there with every prediction. A blown call reflects, not just on him, but on Blackrock. People cannot be chastised for putting forth their opinion to the public. Whether they're talking rubbish or not, their credibility is put on the line. And, as we listen to their opinions, we develop a filter of our own of who speaks with the most merit. For examples, viewers of Mad Money, including Jim Cramer's more ardent followers, will take his suggestions with a greater trepidation. I will be shocked if I meet anybody who regards him as an oracle.

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Read the Article at HuffingtonPost