Personally I agree with you, but I'm sure that there are serious investors who watch it and follow their leads just as some follow Kramer, AdamF, etc.
I've frankly stopped watching CNBC and other business channels at all as most of the time the Analyst's they call up for stock advice will put out a short list and explain what they're doing, then they bring up the companies they recommended on their most recent prior appearance. Most of the time the stocks they recommended are down, and often down significantly. Why would I take advice from people with that sort of record. I believe in almost every occasion these so called Analysts are pushing the companies their brokerage tells them to, and they're telling them the companies that they're working to raise funds with. I can't say I'm thrilled with any of the biotech experts, I used to follow Jim McCamants, but haven't followed his letter in years, since he passed it on to his son. I'd rather listen to some of the people here and make decisions for myself rather than letting the Analysts, or some of the computer analysis sites that give buy or sell recommendations suggest when to buy or sell. Some of the biggest gains I've seen from a percentage standpoint had essentially 100% sell recommendations before things turned around, and of course they retrenched after a big move and switching to 100% buy. For the most part I look at some out of interest, but generally ignore what they're saying.
Gary
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