CNBC Investigates “Broke: The New American Dream”

This recently showed in my in box:

Dear Michael,

Hello, this is [name] writing from CNBC. Would you please let me know which company holds the distribution rights to ‘Broke: The New American Dream‘? 

All the best,
[Name]
Senior Talent Producer
CNBC Strategic Programming & Development

What did I do? I obliged and sent a film copy per their followup request. However, I thought to myself, “Not so sure this will be a workable marriage.”

12 thoughts on “CNBC Investigates “Broke: The New American Dream”

  1. Good luck. I have yet to see a Trend Follower or Market Timer on CNBC. At least, I am not expecting any invitations. Got one from David Faber a few years ago, but I was vacationing on a Greek Island, and I never followed up.

  2. Michael, don’t sell out.

    Maria & Jim’s pump and dump schemes were so effective during the dot-con bubble, instead of prosecution, they got more TV time.

  3. It’s fascinating that, even though math whizzes like Benoit Mandelbrot have posited that price change distribution in the markets have infinite variance, we have an entire industry built on the fallacy that they can predict what’s going to happen in the markets…It’s so much pablum for the masses…or the “gullibles,” as the average investor is called.

    Just for fun, go to CNBC and Bloomberg on Youtube around July/August of 2007 where the “experts” label the recent turmoil in 2007 a buying opportunity. Then bring up a chart of 2007-08 so you can piss yourself laughing.

    It’s better than comedy night at the Improv.

  4. @ DGDye – great comment, you are so right.

    Am just re-reading Reminiscences of a stock operator and it’s uncanny how the behaviour of the “suckers” (I think we call them “high net worth investors” these days) back in the early 1900s is almost precisely as stupid as it is today. Whether it’s computers, mobile phones or internet….it doesn’t matter…..the crowd thinks they are smarter today but really they haven’t progressed at all.

  5. @Al

    Thanks…Reminiscences is my trading Bible. I bet I’ve read it over 100 times over the years and get something new out of it every time.

    Cheers

  6. Maybe they want to buy the distribution rights to it so that they can simply make sure it never gets aired again 🙂 wouldn’t put it past them…

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