Why CNBC Could Be Costing You Money
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CNBC sucks and they will lose you money. I’ve had it today. Today. That’s all I can stand. I can’t stand no more. one losing portfolio manager after another losing portfolio manager one after another coming on their program touted as experts. I can’t stand it anymore. I really can’t. another interesting little tidbit today too. And it really, really grinded my gears.
Yeah, the fact that they did an entire bit on the investment industry, the RIAs, my business, my business, and they were talking about how registered investment advisories, independent ones are growing. Again, people leaving the wirehouses, the big banks out there and going and setting up shop on their own, something that quite frankly, we encourage, we do.
And then, you know, they had to, they had a pipe in, Joe Kernan had a pipe in and that thing talking about, you know, you don’t know about these guys. It’s like Forrest Gump, a box of chocolates. You don’t want you to get, you know, you got to stick with, you know, the big firms, the Merrill Lynch’s of the world. By the way, Joe Kernan used to work for Merrill Lynch. And if you haven’t realized, CNBC, Morgan Stanley, JP Morgan, Goldman Sachs are the biggest advertisers.
on CNBC. Why do you think advisors are leaving those outfits? Why do you think? Well, um, gee, I don’t know. You get some good people there that want to do the right thing by their clients. And Kernan actually lied. He just went off on this. He’s just independent of losing everybody 30%. What? Um, yeah, I’ve been independent for 30 years and we have kicked a shit.
out of every single one of those wires and we continue to do so. So spare me the crap, okay? Anybody could do a search to take a look at the amount of financial fraud, scams that have come out of these big banks and you’re touting this crap? And you’re talking about lack of performance? Yeah, you know, just leave, man. Okay, just leave. You’re long in a tooth. You lie on a regular basis on TV. Get the hell out.
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You used to be respectful. Now nobody has any respect for you. You’re a joke. So leave. Again, it’s going to be off with that thing. Seriously, if you want to lose, we want to learn how to lose money. Watch CNBC. Yeah. Okay. From time to time, time to time. I know I like Becky quick. She’ll do a good job. So interview Warren Buffett. And again, she’s a straight shooter. I feel bad for her.
position that she’s put in from time to time. But the really the ironic thing. The ironic thing is right after Kernan was talking about how wonderful the investment houses are. He had an interview with Kathy Wood. yeah, they love Kathy Kathy is on CNBC all the time. Tom Lee same thing all the time. Bring on Kathy would she was a big star during COVID.
Because if you remember during COVID, there was a lot of crazy tech stocks and neem stocks that went through the roof because all of a sudden we had all sorts of stimulus money that flooded across the country and a lot of amateur investors went nuts with their Robinhood accounts and ended up losing themselves some money. And she was a star. Her ARK investment portfolio. You have someone on as an expert. An expert on your program. And over the last five years, her arc fund is down 52%.
It’s down 52 % over the past five years. You wanna go back and take a look at the, when the fund was started. When the fund was started was back in 2015, 11 years ago. It’s up 48 % over 11 years. Do you realize that?
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you would have done better if you bought yourself a CD. That’s it. That was adequate to about 4 % a year. 4 % a year in the ARC Innovation Tech Fund. You put your money at risk to see 4 % a year when you could just, like I said, you could buy a CD. But no, no, no, no, no, no, no. Have her on. Have her on. Yeah, because she’s an expert. She’s really good at what she does.
It sucks. Turn it off. Watchdog on wallstreet.com.
