Monday, April 05, 2010


An infuriating interview with Lesley Stahl and Maria Bartiromo. Stahl asks Bartiromo if financial coverage has changed for the better, after the epically horrible efforts of '07/'08:

MARIA: I just want to get this elephant out of the room. I don’t think you could blame the media. I think that’s silly.

LESLEY: I’m not blaming the media, but I wonder if everybody who does what you do, and you specifically, have gone back and said, "Wow, I blew it. What do I do next time? What do I do right now?"

MARIA: I think you have to look at the situation and ask very simple, straightforward questions of yourself. Is this too good to be true? Does this seem sustainable? Home prices moving up 40 percent year over year is obviously not sustainable. I would like to think that the next time around I could be more of a contrarian, I can be more skeptical. That’s what Jim Rogers, the international investor, will tell you. Make sure you look at things and question them, and don’t always go with the herd mentality. Don’t — just because everybody says it’s true — necessarily feed into it, because nothing goes up forever and if it does seem like it’s unsustainable, it probably is. So that’s one thing that I feel like I could learn.

Aw, that's nice.

Not a good sign that a decorated financial correspondent has to learn how not to be a stenographer...

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