26 September 2012

Financial TV - who benefits?

Amid the permanent cascade of opinions that are pumped out by financial news stations such as CNBC and Bloomberg one easily forgets that the information peddled should be consumed with caution. Potential investors may be confused by the hundreds of often conflicting recommendations that are broadcast every week but it is still up to them to make the ultimate decision about what to buy and to sell. But one group of winners is certain: the showmasters! A long-standing news anchor at CNBC, Joe Kernen, for example is reputed to be paid an annual salary of US$ 2 million, not bad for a few hours chatter every morning.