David Faber: The Faber Report Spin on CNBC
Stock Tips and David Faber
Why would anyone think, for even a millisecond, that when David shares a stock tip with his guest, only three people are now in the know: David Faber, the guest, and the person watching. What about the millions of other people glued to their sets? Most of whom also believe David is giving them the stock tip. Ah, the intimacy of television combined with our ability to suspend our disbelief. Don't laugh.
We can only assume that everyone gets this great tip, calls their broker and buys? Actually this does happen. The market moves regularly when Faber speaks. However, the movement is always short term. Watching CNBC news in order to get the information needed to market decisions is problematic. But since trading is a zero-sum game, we selfishly hope millions continue to watch. Their trading losses from useless tips go directly to the winners who trade systems. David is not alone, others of course do the same thing.