I don't watch the U.S. news networks very often, but being on the road during these interesting times, I've tuned in more than usual. What amazes me is the 'more is better' approach that they are all taking.
When I turned on CNN after the Palin/Biden debate, there were no less than twelve talking heads ready and anxious to comment on what had just happened. There wasn't enough content in the event for a high school civics class to discuss, but the discerning dozen went at it for hours.
Last night Jon Stewart (The Daily Show is my only source of political news) did a thing on the 'Octabox', CNBC's ingenious invention which brings together eight commentators and experts to discuss the markets. I had seen the eight "little heads" (as Stewart refers to them) last Friday and couldn't believe what I was seeing – analysts and money managers trying to 'out-sound-bite' each other.
As per my usual rant, somebody needs to remind CNBC that nobody can call the market for the next hour, day, week, month or year. Filling the airwaves with experts debating the impact on today's news on tomorrow's markets is doing the viewers a disservice.
I like Stewart's idea of adding one more person to the Octabox, (Whoopi Goldberg?) and turning the show into the financial version of Hollywood Squares. Every time an expert's prediction is wrong, he/she gets eliminated from the game. The last person standing would be rewarded with their own prime-time show on CNBC.
If you have an addiction to the financial news, which is totally understandable, I encourage you to take an hour from your viewing time and watch Charlie Rose's interview with Warren Buffett. After that, if you still need a fix, watch it again. After that, I suggest you start cruising the internet for video offerings. One of my favourite destinations is the Financial Times' "View from the Top" series, but Google and YouTube also provide broad access to business executives, analysts and money managers from around the world.