Bruce Berkowitz on BAC

[Liberty]

BAC cutting around 3,500 jobs:

 

http://online.wsj.com/article/SB10001424053111904070604576516813395283964.html

[ubuy2wron]

BAC cutting around 3,500 jobs:

 

http://online.wsj.com/article/SB10001424053111904070604576516813395283964.html

I watched the talking heads on CNBC discussing in alarming terms this new bit of information I believe BAC has over 200,000 employees. They might as well been discussing the fact that Bill Gates lost a quarter in the broad scheme of things. Do they only hire bi-polar individuals by the way on the financial news net works.

[Liberty]

Do they only hire bi-polar individuals by the way on the financial news net works.

 

In a way, these people are a personification of Graham's Mr. Market.  ;D

[bargainman]

I watched the talking heads on CNBC discussing in alarming terms this new bit of information I believe BAC has over 200,000 employees. They might as well been discussing the fact that Bill Gates lost a quarter in the broad scheme of things. Do they only hire bi-polar individuals by the way on the financial news net works.

 

Remember, media sells..  advertising!  The more alarming it sounds, the more clicks they gather the better!  That's what they're selling.  They aren't reporting news, they're selling advertising.. just remember that...

[Carvel46]

Media delivers a certain type of viewer/consumer to advertisers. Media produces the content that viewers already believe and will accept without thought.

[moore_capital54]

We bought more BAC today @ 6.95...

 

 

[Liberty]

Remember, media sells..  advertising!  The more alarming it sounds, the more clicks they gather the better!  That's what they're selling.  They aren't reporting news, they're selling advertising.. just remember that...

 

It's mostly that a lot of journalists aren't necessarily smarter than everybody else, and if everybody else things that way (doesn't keep things in perspective, overreacts both ways, etc), chances are that journalists do too.