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LOL Jon Stewart Shreds CNBC's Financial Advice 3/4/2009
Mar 5, 2009 2:26 AM
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http://www.thedailyshow.com/video/index.jhtml?videoId=220252&title=cnbc-gives-financial-advice
Hank Greenberg, Rick Santelli, Jim Cramer, Charlie Gasparino, Maria Bartiromo, Carl Cantonia...nobody is safe!They could do this every night because the material for this kind of thing is endless.
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The first thing you need to stop believing in, is everything that your half of government tells you. ~Musashi
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(2 of 22)
Re: LOL Jon Stewart Shreds CNBC's Financial Advice 3/4/2009
Mar 5, 2009 5:09 AM
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Absolutely classic Musashi, I was hoping somebody would do a number on these meatheads. What a bunch of homers. The sad thing is only a few of them have any actual brains, and the ones that do are so invested in the market they just "keep looking for ways to make you money." Can't do it when the banking system dies folks. Unless you invest in a home foreclosure clean up company.
I'd like to see an hour long clip of this stuff just to wake people up to this junk. I have NEVER relied on any of this analyst stuff to make a purchase. The closest I got was when Cramer recommended Kmart/Sears. Glad I didn't bother. The stock tanked.
Actually, I am thinking of putting serious money back into the market.
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(3 of 22)
Re: LOL Jon Stewart Shreds CNBC's Financial Advice 3/4/2009
Mar 5, 2009 5:21 AM
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Nearly all of yesterday's gains look poised to be wiped out before the market opens today so don't let one day of market gains give you false hope. Dow futures are down over 120 points at this moment.
Since Obama just said yesterday that the stock market is looking like a good deal, that's your only cue, I suppose.
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The first thing you need to stop believing in, is everything that your half of government tells you. ~Musashi
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Re: LOL Jon Stewart Shreds CNBC's Financial Advice 3/4/2009
Mar 5, 2009 5:25 AM
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Impossible to pick a bottom in one of these. I mean the auto sales are down over 50%. 50% !!!!!! Incredible. And the GDP dropped 6.2% in the last quarter of 2008, much higher than expected. This is going to take some years to go away.
So the market may drop another 1000 or more, but still I am starting to wonder if now is the time to pick up some good companies cheap and hold them. And gamble of a few super cheap ones like Citibank. Of course Citi is not much different than putting your money on red in a roulette game. It could easily go to zero. Has to be money you can afford to lose.
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Re: LOL Jon Stewart Shreds CNBC's Financial Advice 3/4/2009
Mar 5, 2009 5:39 AM
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Impossible to pick a bottom in one of these. I mean the auto sales are down over 50%. 50% !!!!!! Incredible. And the GDP dropped 6.2% in the last quarter of 2008, much higher than expected. This is going to take some years to go away.
You just said you were going to buy stocks soon. Now you're talking about a recovery being years away. Tankey I think you better put your pocketbook down and step away from the big board.
So the market may drop another 1000 or more, but still I am starting to wonder if now is the time to pick up some good companies cheap and hold them. And gamble of a few super cheap ones like Citibank. Of course Citi is not much different than putting your money on red in a roulette game. It could easily go to zero. Has to be money you can afford to lose.
I guarantee you that Citibank won't go below zero. If you don't have any stock ideas better than US banks, don't buy stocks right now.
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The first thing you need to stop believing in, is everything that your half of government tells you. ~Musashi
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(6 of 22)
Re: LOL Jon Stewart Shreds CNBC's Financial Advice 3/4/2009
Mar 5, 2009 5:59 AM
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You just said you were going to buy stocks soon. Now you're talking about a recovery being years away. Tankey I think you better put your pocketbook down and step away from the big board.
Not mutually exclusive, Musashi. Sometime stocks lead in a recovery. OR they may do nada for a year or two, but it is tough to pick a bottom. Things are starting seem cheap to me. And I'll hold them for ten years of more. So if I get in now I may lock in cheap prices. Heck just $5,000 will buy you almost 3500 shares of Citi stock! IF it just goes to 5$ you made a killing.
The idea is to get in when the market is relatively low, with some good companies and you are on your way. And this market could turn quicker. Downside risk seems smaller now. Nobody can buy at the all time low and sell at the all time high.
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(7 of 22)
Re: LOL Jon Stewart Shreds CNBC's Financial Advice 3/4/2009
Mar 5, 2009 6:35 AM
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Not mutually exclusive, Musashi. Sometime stocks lead in a recovery. OR they may do nada for a year or two, but it is tough to pick a bottom. Things are starting seem cheap to me. And I'll hold them for ten years of more. So if I get in now I may lock in cheap prices. Heck just $5,000 will buy you almost 3500 shares of Citi stock! IF it just goes to 5$ you made a killing.
I wouldn't touch Citi with your 10 foot pole. And not just because you wouldn't buy it now and hold it till it gets to $5 and then sell it and make a killing, you'd assume it would go 10x higher than that and wind up losing everything. If you think of selling at $5, sell at $5, but why $5? Why not $4? Why not $25? It's arbitrary up and arbitrary down, either way. You can ride it all the way to $6, fail to sell, and then wind up with a 100% loss. A "killing" only happens when you ring the register.
The idea is to get in when the market is relatively low, with some good companies and you are on your way. And this market could turn quicker. Downside risk seems smaller now. Nobody can buy at the all time low and sell at the all time high.
No but people always play those mental exercises, like see how much "money" they had at the all-time market top and then pretend that "I've lost this much money". Some people do it just to frustrate themselves, maybe others do it to brag. Whatever the case, people fool themselves because they never had that much money. They had certificates that someone thought were worth that much money. Big difference.
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The first thing you need to stop believing in, is everything that your half of government tells you. ~Musashi
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Re: LOL Jon Stewart Shreds CNBC's Financial Advice 3/4/2009
Mar 5, 2009 10:49 AM
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Musashi, I admit it is a total gamble, all or nothing. But I believe it has a shot at surviving, I think it is too iconic for the Obama people to let go down the tubes. And god is it cheap. A share in 1.00 now. So $5,000 gets 5,000 shares. It has to be money you can afford to lose. $5000 isn't that much really. I would not go over that. I have not pulled the trigger yet. Also I would sit on it for years -- all teh way to the end.
But it is only for people willing to lose it all. It is teetering'.
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(9 of 22)
Re: LOL Jon Stewart Shreds CNBC's Financial Advice 3/4/2009
Mar 5, 2009 10:50 AM
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Whatever the case, people fool themselves because they never had that much money.
That is exactly right. These home prices and some stock prices were illusions. So when people cry they lost money, they never had it. It's looking at the stock market as a Ponzi scheme -- if you get out early you do well. I don't look at the market that way. It's a long term bet.
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(10 of 22)
Re: LOL Jon Stewart Shreds CNBC's Financial Advice 3/4/2009
Mar 5, 2009 10:55 AM
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There are maybe two or three of those guys I actually think contribute something useful on that show -- Liesman and that Reporter with the good hair, not Gasparino.
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(11 of 22)
Re: LOL Jon Stewart Shreds CNBC's Financial Advice 3/4/2009
Mar 5, 2009 2:01 PM
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It wasn't cheap at $1.11 yesterday? LOL you have no clue what "cheap" is.
Penny stocks are called penny stocks for a very, very good reason. And C is now a penny-stock, for a very good reason.
When you put your faith into malinvestment and good money chasing after bad, of course your big investment idea would be to put your good money into a bad US bank. Reward the loser yourself with your own money, why not?
You've already given Citigroup hundreds of dollars out of your own purse and you don't get one bloody share for it. Divide by zero on all of these government shenanigans and what do you get per share? We're paying infinitely for this garbage because we have no clue how to pay it back. You have no clue how big $10 trillion becomes in 10 years just on interest compounding alone (even IF government balanced itself 100% immediately) because I asked you and you sneezed and ran. Wake up, socialist.
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The first thing you need to stop believing in, is everything that your half of government tells you. ~Musashi
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Re: LOL Jon Stewart Shreds CNBC's Financial Advice 3/4/2009
Mar 5, 2009 2:06 PM
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LOL the stock market isn't the ponzi scheme, the market is what sets the fair and true price, which is what your government loving price-fixing bubbles are doing for hundreds of millions of clueless government-reliant Americans. The ponzi scheme is your government tentacles getting their slime all over the markets. Wake up, socialist.
You contradict yourself every time you open your mouth, on one hand you'll claim that the free market doesn't care about the poor but on the other hand you have no clue that the free market wouldn't have allowed any subprime disaster either. If a bank loans a customer money and that loan goes bad, the bank should suffer the full weight of the hammer fall, not you, not me, not every innocent child in America who doesn't have the slightest dam thing to do with it.
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The first thing you need to stop believing in, is everything that your half of government tells you. ~Musashi
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Re: LOL Jon Stewart Shreds CNBC's Financial Advice 3/4/2009
Mar 5, 2009 2:08 PM
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If you watch it on a regular basis you might be able to flesh out what you're talking about here, but I'm afraid it's just impulsive opinion talking here, so I won't bother asking you to elaborate.
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The first thing you need to stop believing in, is everything that your half of government tells you. ~Musashi
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Re: LOL Jon Stewart Shreds CNBC's Financial Advice 3/4/2009
Mar 5, 2009 2:59 PM
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Musashi, you utopian flagellate and hysterical libertarian/agrarian fearmonger, wake up, LOL. Sory, I had to lay some on ya.
Seriously, the citibank purchases would be a dice roll. The odds are you woudl lose the cash. But $5000 ain't that much money really in such a gamble. NO more than that. IF it goes, then cest la vie, I won't miss it. If it hits, wow. I admit it is a wild riverboat gamble though, you are right on that. I like to have a few of those going though. I bought Imclone and Martha Stewart when both their principals went to jail. Both did fantastic. Sometimes when everybody is wailing is the best time to get in.
As for socialism, stop fearmngering adn making this sound liek the end of the planet -- it decidlely is not. The banks will be nursed to health and peopel will still buy food and clothes and entetainment. The fact the people mostly own the banking system now means that they are protected from the disaster of total colpase.
The Feds took over the Savings and Loans and took their time but finally fixed them and sold off theri assets. It is hardly socialism to do so. Neither in universal health care and you are a wortlhess peabrain( wink) for saying it is. I suppose you have health insurance through your paretns or your job but it can go away in a hertbeat.
Simply guaranteeing access and saying that all plans must accept previous conditions and currently ill people while essenitally requiring everyoen to buy creditable coverage is doen every day in placs liek Australia and Gemrany and New Zealand -- places with success and financial love.
I think your uneasoning fear of socialism is an artifiact of the kind of brainwashing that made it as evil as Hitler. In fact, the Democrats woudl be far right in Europe, hardly socialist.
You need to stop ranting and raving and start gathering yourself.
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(15 of 22)
Re: LOL Jon Stewart Shreds CNBC's Financial Advice 3/4/2009
Mar 5, 2009 3:11 PM
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Musashi, you utopian flagellate and hysterical libertarian/agrarian fearmonger, wake up, LOL. Sory, I had to lay some on ya.
You clueless government humping moonbat, name the slightest thing that is "utopian" about me.
Do you have a clue what SOCIALISM is? You socialist %$#@#@'ers coined the term "Utopia"! Wake up! Quit smearing that slimy trash off on me where it doesn't belong.
I OWN the definition of Socialism on this board, and you're going to be taken to school if you act ignorant as a kool aid drinking neocon one more time.
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The first thing you need to stop believing in, is everything that your half of government tells you. ~Musashi
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