The price corrected in under 4 minutes... and for every high-frequency-trading algorithm that got robbed of that 1%, there was another algorithm that struck it rich.
If you're average holding period of a stock is 3 minutes, then this caused damage. Otherwise you wouldn't notice. #cnbc
Call me when Blankfein writes his memoirs. If journalists had the sourcing to write about the important elements of this crisis there wouldn't have been one. Then again, the idea of pretending that losses don't exist is somewhat boring to explain - it's still completely underreported that L3 asset valuations are the primary driver of this crisis, the next crisis, the crisis after that, and the crisis that finally destroys banking. #cnbc
{Yawn} We're in the land of time-delayed literary land mines. The Superfreak boys (Levitt & Dubner) are shocked, shocked, that people are shocked with their book. If we see Gasparino and Sorkin holding hands and giggling next week we'll know this was all about publicity. #cnbc
@Uncle_Billy_Slumming: Actually, Sorkin doesn't seem to want to fan the flames. Sucks for us. I guess he's doing well enough anyway. Sorkin's will be the definitive book. He's like a political candidate with a strong lead; he doesn't need a messy and risky debate. #cnbc
starting to 1der if charlee gasparino's anger is 'relevant.' thinking about getting angry at West Wing bro, too.
At least this is more exciting than the beef between the two Twitter books. Is it possible that Gasparino's just getting a little image-conscious because he knows Sorkin's book (with a NYT name behind it) will blow his out of the water on cover alone?
@RonMwangaguhunga: LOL, when is anyone on CNBC not very, very angry? I enjoy seeing the look of terror in their eyes any time anyone mentions reinstating banking regulations that kept us all relatively safe for the past 80 years. My favorite show was when one of the women broadcasters said "I don't understand why the middle class doesn't just pay off their credit card bills." Apparently, she was tired of listening to the bitter Poors bitch about paying 30% interest to banks that they were supporting with tax money. Stupid Poors. I'm just relieved Wall Street won't have to forego bonuses this year. The horror, the horror. #cnbc
He needs to lose the cowboy thing. He isn't a cowboy. I don't care if he secretly has wanted to be Johnny Cash since the '80s, if he doesn't work cattle in the heat of the southern sun, he doesn't need the hat and the boots.
@DoctorNine's D9 Cat: Well, technically he does have a ranch in Northern New Mexico. Whether or not he does any sort of cattle running or brush clearing remains in question.
"I'm interested in doing a weekly dramatic series based on the Ecumenical Liberation Army. The way I see the series is: Each week we open with an authentic act of political terrorism taken on the spot, in the actual moment. Then we go to the drama behind the opening film footage. That's your job, Ms. Hobbs. You've got to get the Ecumenicals to bring in that film footage for us. The network can't deal with them directly; they are, after all, wanted criminals."
@valet_of_the_dolls: "And by the way, the next time I send an audience research report around, you'd all better read it, or I'll sack the fucking lot of you. Is that clear? "
@valet_of_the_dolls: I'm almost of the mind that anything Network can tell us about how democracy really works, Mr. Smith Goes to Washington says it better, and with considerably less bitch-baiting and overacting at that.
@Dickdogfood: You're probably right, but I've only seen it once so it didn't occur to me immediately, the way this scene did. (Also, I find the overacting kind of enjoyable, and not entirely out of place, given the absurdity of some plot points.)
Some people grow apples, some people make cars. CNBC, CNN and the rest of the news TV incite riots, assassinations and wars. They have the right to make a buck just like the rest of us!
@Carol Gardens: Okay, serious question here. Where do the Gawkerati suggest that I watch my news? I try to verify things on the computer, but the television is just way more convenient. What I'm asking is what you guys think are the most credible news sources? Obviously this crap from CNBC is unacceptable.
@ChillbearLatrigue: If you are interested in new farming techniques in Chad or how a rich Thai businessman is opening a new hotel in Hong Kong then be sure to check out BBC International. They will not interrupt those stories no matter what breaking news event is unfolding.
@ChillbearLatrigue: I usually go with the BBC. Their news actually tends to be fair and accurate and I cannot remember the last time anyone on there tried to encourage a riot.
@misslinda: I actually love The Daily Show. It's mostly headlines. I don't even know if I get the BBC, but I will check and report back with my opinion at a later time. South Florida market, you know?
@MissVero: I actually trust this site to get the story correct, but sometimes I feel that it might be just a little slanted.
@ChillbearLatrigue: It's not a daily, but I pick up a copy of The Economist every week to know what's what (or if you're a cheap bastard, read it online).
@ChillbearLatrigue: South Florida gets the BBC. And please, don't report back with your opinion. It's already well established that the BBC provides in-depth news coverage that is about as neutral as it gets. If you watch it and say "awww, blech, this is liberal dreck, how can anyone watch this!" it only means you are farther to the right than you would like to admit.
@misslinda: Please, don't take this wrong, but I have someone that I have known to be a liberal, recommending a news outlet on a site that is famously liberal. I think that the recommendation bears some scrutiny even if a report isn't necessary. I'm not completely unfamiliar with BBC, but I don't have a 24 hour BBC news channel. I currently subscribe to Stratfor.com and Scientific American and have subscribed to the Wall Street Journal in the past. Despite the fact that none of them seem to have a political agenda on the surface, I have found all three of them to stray to one side or the other from time to time. I've also heard people claim to me that NYT is an unbiased paper with a straight face. Pardon me if I don't accept anyone's word for a media smell test. I was asking for opinions, not for permission to set my brain on the nightstand while people tell me what to watch.
Okay, so here's the deal. I'll report back to the rest of you on a day that I suspect Misslinda isn't reading. Everyone cool with that?
@ChillbearLatrigue: I second The Economist for in-depth stuff, and NPR for daily (just listen to Morning Edition and you'll get a fair snapshot of the current news cycle). And BBC has a great website if you don't get it on TV (I don't).
Hmm, two out of the three are nonprofits.
@ChillbearLatrigue: In defense of the Times, its news coverage is fairly unbiased - at least to me. If you're looking for news, it's a pretty good source. I wouldn't make the mistake of conflating the ideological stance of a newspaper's opinion section with its reporting. (If you like Scientific American, New Scientist is also a good magazine [great website], particularly if you don't want to drop the $$$ on Science and/or Nature).
@atlasfugged: Thanks. I don't find the NYT ridiculously biased. I have issues when during the presidential elections they break a story on McCain having an affair and then have to retract it. It's isolated incidents, but I do read it on my phone because it's free. If it ever starts not being free, I don't think that I will any longer.
While relatively sane in the rest of my life, I inexplicably love the Deutsch. Seriously love. I know he's almost unanimously considered a douche but he's actually quite charming in person.
So his coworkers, like the rest of America, know what a ridiculous douchebag he is (with or without the pic), yet CNBC continues to employ him. Part of the Zucker Effect, I imagine.
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If you're average holding period of a stock is 3 minutes, then this caused damage. Otherwise you wouldn't notice. #cnbc
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Agreed. He's smooth. #cnbc
10/20/09
At least this is more exciting than the beef between the two Twitter books. Is it possible that Gasparino's just getting a little image-conscious because he knows Sorkin's book (with a NYT name behind it) will blow his out of the water on cover alone?
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@MissVero: I actually trust this site to get the story correct, but sometimes I feel that it might be just a little slanted.
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Okay, so here's the deal. I'll report back to the rest of you on a day that I suspect Misslinda isn't reading. Everyone cool with that?
08/12/09
Hmm, two out of the three are nonprofits.
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