Hot Stock Picks for a Rallying Market -- Our Response to a Huffington Post Blog Entry (Part 3)

Now, my concern isn't of the Jim Cramers of the world being given a high enough platform. It is of professionals giving their suggestions and foresight on what's happening with genuine intentions. Yes, I believe those people are out there. Personally, I would like to nominate PIMCO"s Bill Gross and Mohammed El-Erian, who run the world's largest bond fund. More obvious examples are Warren Buffet and George Soros, who at many times have conflicting assessments. But, these assessments are explained, and these explanations give viewers at home added insight, a more practical education and, with time, a sharper filter to decipher useful information from the static.

While this populist rage against financial news continues, in blogs like Solin's for example, its merits shouldn't be lost.

About Financial Crisis
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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.

About Financial Crisis
Read the Article at HuffingtonPost

Hot Stock Picks for a Rallying Market -- Our Response to a Huffington Post Blog Entry (Part 1)

Two occurrences last Friday made me come back to this Huffington Post blog entry by Dan Solin. One, it was the 20th anniversary of CNBC's founding. The second was Jim Cramer's highly spirited retort to Mr. Solin's public mockery of "In Cramer We Trust" on CNBC. Cramer was so incensed that he interrupted Solin's interview to give him a piece of his mind. Where was that energy during his interview on The Daily Show, I wondered? Unfortunately, Cramer took the opportunity to attack John Bogle and defend his own prowess. It is with thoughts of financial news and their market-timing pundits, such as Cramer, that I write today.

Mr. Sorin's contribution to empowering Americans to take control of their financial future is nothing short of exemplary. While I haven't read "The Smartest Investment Book You'll Ever Read," I have heard great reviews. To him, I say, stay passionate.

However, in the great zeal seemingly everyone has taken in bashing pundits and financial news; I feel somebody needs to hear a rebuttal. While, undoubtedly in a perfect world, we would like to see the type of investigative journalism that would bring a greater credibility to outfits like CNBC and Bloomberg, if we had the option between the manner in which media coverage is conducted today or no coverage at all, which should we go with? If trashing the pundits that make bold predictions dissuades them from presenting their thoughts on the market, will it be worth it for us?

About Financial Crisis
Read the Article at HuffingtonPost