Adam Warner of Schaeffer’s Research has seven steps he believe will fix the problems at CNBC.
Here are some of them:
So here are a few suggestions, some of which are actually real suggestions.
- Hyper-focus on what’s moving today: I know this is poor long-term investing advice. It’s best to ignore the short-term noise and concentrate on longer-term planning. Short-term trading is a net losing proposition. But CNBC’s goal is eyeballs. If a stock is hot for an hour or a day, focus more there and focus less on the old standbys. I don’t need to hear every single micro development in Facebook Inc (NASDSAQ:FB), or Apple Inc. (NASDAQ:AAPL), or Goldman Sachs Group, Inc. (NYSE:GS), unless it is actually causing the stock to move. Long term (OK, old) investors in mansions or country clubs or five-star hotels may be your “core” audience, but short-term stock flippers are going to be your variable audience.
- You’ve said in the past you want to model CNBC on sports coverage. “Squawk Box” is kind of the pre-game show, “Power Lunch” is halftime, etc. Well, that’s great, but the trading hours are the actual game itself in that case. And in actual sports, no one knows what’s going to happen (well, except for in the NBA). So treat it like a sporting event, and go where the story takes you. If there’s a better “game” going in gold, or bitcoin, or real estate (or some small biotech), go there. As Cramer once said, there’s always a bull market somewhere, so find it in a timely manner. In short, give us more shows like “Fast Money,” in my opinion. I know this adds to the gambling nature that the U.S. News guy wants to get rid of, and he’s right, but so what? That’s what sells. You’re a network, not a financial planner. Let the actual financial planner talk some sense.
- On a related subject, fewer CEOs. I don’t need to hear every single utterance from Jamie Dimon, et. al. It adds literally no value. Between legal restrictions, general aversion to say anything controversial, and softball questions, it’s a complete waste of time. Just stop.
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