As a person who trades stocks and options all day and considers it a very challenging new profession at times watching CNBC is not easy. There are other financial cable programs but CNBC is the #1 show of its kind of cable TV. Very often the financial news on CNBC is invaluable, but at other times this show can be very annoying to watch during certain times.
For one thing, CNBC continuously plays the same commercials all day long, over and over again, practically in every single commercial break. Early in 2014 there was a series of commercials featuring two women who were trying to learn how to use computers for the first time. The combination of the music and the annoying comments during the commercial and the fact that they were played so often, not only bobby kotick but it seemed other cable channels as well was literally driving me crazy every day. On the one hand, CNBC is invaluable with the financial information they provide, but on the other hand, the repeating of the same commercials is completely insane. I never could understand why the management of CNBC would not realize how much they were annoying and frustrating their own audience. Why didn’t the company behind the ads create other versions rather than using the same ones over and over again?
After a few months, two new government commercials replaced these commercials with the two women trying to learn how to program computers. These commercials had to do with home safety and featured two families and their children repeated the same dialogue about the fact that they had no idea how to protect their home in case of an emergency. Over the very many times I had to sit through these commercials, very often turning off the sound, I still don’t know the point of these ads. CNBC was RELENTLESS with their constant showing of the same two ads over and over again, perhaps 30 times each every single day.
Currently there is a new government ad that has to do with a group of young men in the forest and Smokey the Bear. At the end of the commercial there is a musical whistling noise that over time will drive you crazy as well as the dialogue during the commercial. I have already started to turn off the sound for this ad.
The other problem with CNBC is the fact that they either talk up or talk down the market. Prior to the huge correction we had in mid-October, CNBC constantly reminded us that we had not had a 10 percent more correction for over 3 years and sure enough in October we got that correction. All the commentators seem to like to make bad news sound worse than it is. One of the best examples of this was the panic during the EBOLA crises in October but eventually this finally died down but it took many weeks.
In the insane years of 1999 and 2000, CNBC was brought on irresponsible commentators on the show to talk up internet stocks and many of those stocks went to zero. I believe along with many others, that CNBC had a lot to do with the stock market internet bubble that ran from March 2000 to October 2002.