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Posts Tagged ‘Henry Blodget’

Parker Spitzer Premieres on CNN

Last night CNN premiered its new 8 PM show, “Parker Spitzer.” The duo promised a different sort of cable news show, with pundits that would be unlike the ones you see on the other networks

“The one thing we don’t want is for someone to turn on the TV and say ‘oh yeah, I have seen him or her 18 times in the past week,’” Eliot Spitzer told TVNewser last week.

Did Andrew Breitbart, Henry Blodget, Elizabeth Warren and Aaron Sorkin meet that goal?

What did you think of the show’s debut? Let us know in the comments.

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Jim Cramer: “Brilliant Market Commentator,” But…

Following yesterday’s Barron’s vs. CNBC battle over Mad Money’s Jim Cramer, Clusterstock.com’s Henry Blodget has some advice for both sides.

“Jim Cramer is smart. He’s entertaining. He’s provocative. He’s interesting. He’s a one-of-a-kind,” writes Blodget. “In short, he’s a brilliant market commentator. And that’s all he has to be to be popular with viewers and a major asset to CNBC. So it’s time the network stopped pretending that he’s also something else.”

While he’s popular (and probably helps magazine sales), Blodget writes, “Do Cramer’s picks actually underperform? Probably. Most of the evidence I’ve seen makes a persuasive case that they do (including the Barrons’ article).”

So Blodget’s advice to CNBC for future inquiries about underperforming Cramer stock choices: “Jim Cramer is the most-watched market commentator in the history of the world. Viewers love his energy, insight, and experience, and we’re thrilled to have him on CNBC.”

Cramer’s New Strategy — Sell Everything

cramer_10-6.jpgCNBC’s Jim Cramer appeared this morning on NBC’s Today show, in a downer of an interview with Ann Curry. His advice to some investors — get out now.

“Whatever money you may need for the next five years, please take it out of the stock market right now, this week,” said Cramer. “I do not believe that you should risk those assets in the stock market right now.”

He continued, saying, “I thought about this all weekend. I do not want to say these things on TV.” But, he did anyway — to more than 5 million people.

Politico’s Michael Calderone points out, “Such a bold prediction could have real consequences.”

Calderone also brings up Mad Money’s lengthy disclaimer, which reads in part “You should not treat any opinion expressed by Cramer as a specific inducement to make a particular investment or follow a particular strategy, but only as an expression of his opinion.”

And Clusterstock’s Henry Blodget disagrees completely with the advice and the harsh language. “If Cramer really doesn’t ‘want people to get hurt,’ he should stop telling them to try to pick stocks and time the market and just gradually invest in a globally diversified portfolio of low-cost index funds,” writes Blodget.

Click continued to see this morning’s interview…

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CNN iReport Falsely Claims Jobs Heart Attack

ireport_10-3.jpgSilicon Alley Insider’s Henry Blodget writes about an iReport earlier today on CNN.com that reported Apple CEO Steve Jobs had been hospitalized after a “major heart attack.”

“I have an insider who tells me that paramedics were called after Steve claimed to be suffering from severe chest pains and shortness of breath,” writes the user, JohnTW.

It turned out not to be true, and by 10:20amET the iReport had been removed. But Apple’s stock dropped significantly after the report first circulated, and Blodget writes “we expect this will lead to an SEC investigation.”

CNN gave us this statement regarding the matter:

iReport.com is an entirely user-generated site where the content is determined by the community. Content that does not comply with Community Guidelines will be removed. After the content in question was uploaded to iReport.com, the community brought it to our attention. Based on our Terms of Use that govern user behavior on iReport.com, the fraudulent content was removed from the site and the user’s account was disabled.

The Ticker (biz edition): CNBC, FBN, Bloomberg…

> CNBC was mentioned this morning during House talks on the bailout bill. Rep. David Dreier said, “Anyone who watched CNBC’s coverage saw a direct juxtaposition — one half of the screen showed this house floor, the other half of the screen showed the floor of the stock exchange.”

> Clusterstock’s Henry Blodget reports FBN was first to publish an exclusivity agreement between Wachovia and Citi. Alexis Glick broke the news just before 9:15amET.

> Al Hunt interviews FDIC chair Sheila Bair on the bailout and other issues, tonight on “Political Capital” at 7:30pmET. Also on the program are Bloomberg correspondents Rich Miller and Alison Fitzgerald.