Trend Commandments: Trading for Exceptional Returns (PATRICIA BLAIR's Library) by Michael W. Covel

Author:Michael W. Covel
Language: eng
Format: epub
Published: 2011-06-13T16:00:00+00:00

* * *

Don’t drink the Kool-Aid.

* * *

A Seinfeld Moment

A good friend of mine was

once employed as a

reporter by the largest

commodity news service at

the time. One day his major

story was about Sugar and

what it was going to do. After

I read his piece, I asked:

“Gary, how do you know

all of this?” I will never forget

his answer. He said:

“I made it up.”1

The line between entertainment and today’s financial journalism is very murky. First, consider an instantly recognizable passage for many comedy fans:

NBC Executive: I just wanted to let you know that we’ve been discussing you at some of our meetings and we’d be very interested in doing something.

Jerry: Really? Wow.

NBC Executive: If you have any idea for a TV show for yourself, well, we’d just love to talk about it.

Jerry: I’d be very interested in something like that.

NBC Executive: Well, why don’t you give us a call and maybe we can develop a series.

Jerry: Okay. Great. Thanks.

George returns.

George: What was that all about?

Jerry: They said they were interested in me.

George: For what?

Jerry: A TV show.

George: Your own show?

Later Jerry and George are talking.

Jerry: Well, what’s our new show idea going to be about?

George: It’s about nothing.

Jerry: No story?

George: No, forget the story.

Jerry: You’ve got to have a story.

A little later.

Jerry: And it’s about nothing?

George: Absolutely nothing.

Jerry: So you’re saying, I go in to NBC, and tell them I got this idea for a show about nothing?

CNBC once invited me to their offices. They paid my travel. I had no specific knowledge of what they wanted, but the meeting was with producer Susan Krakower who had invented Jim Cramer’s show. It was assumed that they were looking for new content. Once there, the meeting was in a small windowless New Jersey office with Krakower and her two lieutenants. It was like when Jerry and George went to meet with NBC. A Jim Cramer poster hung behind her.

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