I was just reading an interview with Berry Ritholz from The Big Picture and he makes a good point about the dangers of listening to the talking heads on TV.
Most of the people that appear in the financial press have a very specific agenda. They appear on TV and radio or get quoted because they want to attract clients. We understand their motivations. Where things begin to get dicey is when they start to say ever more ridiculous things in order to do more media interviews. They figure that no one will remember what they said, so long as they’re on TV a lot they’ll attract more business.
95% of the people on TV are there because they look good and speak clearly, not because they`re good at picking winners and losers.
