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This is quite lame. Did we ever hear about media as a catalyst for sending everyone into bonds over the years? When has the media NOT played a "large role" on the behavior of investors.
They need to talk about how THEIR funds have done relative to bond benchmarks. Period. As active managers, THAT is their job. Don't blame investor exodus. By that logic, investors quitting equity funds was solely responsible for last two bear markets. When someone is selling, someone is buying.
Maybe El-Erian and Gross should stop going on CNBC (I haven't seen Gross on it as much lately), given that it probably isn't as useful a promotion tool, given that ratings have now gotten so bad that ratings have gone back nearly to what they were when the channel first started.
I think Scott has hit upon something. Manager starts blabbing too much on CNBC maybe a sign of misplaced priorities. Go on CNBC, see your fund tank. Same thing happened to Berkowitz not so long back. In fact I had reported it on FundAlarm.
Can anyone verify Berkowitz making rounds of CNBC these days? If he is, I think his fund also tanks along with the new normal and EE.
Mark Travis Manager Of ICMBX Began Appearing On CNBC As a Regular Guest When His Fund Was a 5 Star Fund, Its Now Rated 3 Stars For The Last 3 Years. He Should Spend More Time Running The Fund And Less time On CNBC.
Reply to @VintageFreak: Gross & El-Erian Have Been Talking Down The Stock & Bond Market On CNBC For Years Now - They Coined The Term New Normal (which means low returns in stocks & bonds) DUH!!!! Now They Are Surprised People Are Pulling Money Out Of Their Funds!!!
Reply to @ducrow: it might not be apparences but simple reversion to mean or end of lucky stretch for a lot of managers. The fact that they were 5* when they first appeared on TV is probably because CNBC will invite hot fund managers of the day unless the manager is already famous.
It is one of those things. I like my managers eating their own cooking. One can never ascertain whether that improves performance of fund, but I want it. I NEED it.
Similarly I NEED my managers to manage my money. Their job does not include them coming on CNBC, even just to pump their stocks, because I also want them to be honest. The problem is the media p***ing managers, making them celebrities, helping no one, especially because they create news out of nothing.
CNBC should consider screening infomercials in the afternoon like they do on weekends. It will help everyone, including maybe even CNBC helping them get some viewers back. They might get 20% off the SOAP Opera viewership.
Comments
They need to talk about how THEIR funds have done relative to bond benchmarks. Period. As active managers, THAT is their job. Don't blame investor exodus. By that logic, investors quitting equity funds was solely responsible for last two bear markets. When someone is selling, someone is buying.
http://www.zerohedge.com/news/2013-08-28/cnbc-core-viewership-drops-fresh-20-year-low-worst-nearly-inception
Can anyone verify Berkowitz making rounds of CNBC these days? If he is, I think his fund also tanks along with the new normal and EE.
CNBC = Could Not Be Called.
Similarly I NEED my managers to manage my money. Their job does not include them coming on CNBC, even just to pump their stocks, because I also want them to be honest. The problem is the media p***ing managers, making them celebrities, helping no one, especially because they create news out of nothing.
CNBC should consider screening infomercials in the afternoon like they do on weekends. It will help everyone, including maybe even CNBC helping them get some viewers back. They might get 20% off the SOAP Opera viewership.