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"Jo Jo's a clown and knows it. He doesn't try to give investment advice. He dresses up as a clown and amuses the kids at birthday parties. In this way, he conscientiously avoids causing irreparable harm to anyone's stock portfolio."
Total runtime: 40 min.
[Quoting EJ]: That leads us to the second way to do macroeconomics in America, as economics performance artist for the trading and brokerage firms that sponsor investment-related online publications and TV shows. Not surprisingly, the content and programming is geared to trading and away from long-term investing. The producers don’t care if guests appearing on these shows and sites push stocks, bonds, or ETFs provided that the commentary suggests a trade – any trade – that gets viewers out of what they are in and into something else, to generate fees for the trading firms and brokerages that are paying for the show. You will rarely if ever hear the “C” word “cash” uttered. It doesn’t matter if guests are right or wrong. In fact, wrong is better because then the guest has to come back on the air later to correct the previous error — which, of course, requires another trade. Track record is irrelevant. No interviewer will ever ask; guests are not there to be right; they are there to incite the audience to trade.
Full iTulip article here.
Full iTulip article here.
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