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To the "retail" investor, CNBC is fascinating. And Cramer is unparalelled in cutting through to the real antics of Wall Street.
But even Cramer can be excused for having a "blind spot." Criticism of CNBC's presentation itself throughout the day. I enclose an excellent writing of Cramer in 1998 which is applicable to CNBC today, and to almost every day of this current crisis market, even though his 1998 article was directed to the fatuous Barton Biggs' recommending shorting the NDX at a Barron's Roundtable.
As I said in my earlier blog on trading VIX, IT CANNOT BE DONE BY THE RETAIL INVESTOR.
To sort-of explain: the only retail investor found who made a lot of money in the 1987 crash was a Philadelphia serial rapist/killer who had six or seven sex slaves chained in his basement. He had better things on his mind! and could afford to be blase about the market.
Another way of putting it from the legal field: A lawyer who represents himself has a fool for a client. And that DOES NOT mean a "retail investor+his broker" could do it either. No broker would spend his time with that investor. It's a full-time job.
So let's face it, CNBC ideas on many topics are good for the Wall Street crowd but there should be a warning at the bottom of the screen: "DO NOT TRY THIS AT HOME" or "PLEASE FAST FORWARD!"
