April 28, 2006
CNBC - Welcome to our casino Mr. Akabano!
Trader Mike - a web 2.0 blog for trader's has latched on to the joke that is CNBC. Today Mike writes:
"I love the ridiculousness of CNBC's 'portfolio' challenge. They just interviewed the guy who's currently in the lead. He's up over 100% in the few weeks that the contest has been running. How did he jump into the lead? He threw his whole wad, about $1,500,000 (29,000 shares) at NTRI ahead of their earnings report. Carl Quintanilla asks him "so not the diversified approach, eh?" The response was something to the effect of "you can't win this game being diversified." I just can't imagine anybody trading like that in real life. The risk of ruin must be incredible."
This is some seriously useful reporting for their audience - "if you manage money in Disneyland!"
Why not just have slot machines in the background and stop fooling around with the facade.