Originally Posted by brewer12345
Dunno. When I worked at an asset manager they had TVs all over the place tuned to CNBC. Never understood why, since its all blather that whole bunch of people who should know better constantly react to.
If we're all going to to slightly better than average as Bogleheads, more than half of all investors have to fill in the below average transactions for us. Most of them are watching CNBC almost as religion, bless them.
And CNBC proves them right once in a while, so the wheel keeps turning. It's just like gamblers who talk up their winning nights but are more often quiet after their losing nights...never putting the whole picture together. It's what gives golf it's appeal too. Human nature is a curious thing...