Those Putzes on CNBC

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In case you missed it during the many instances I mentioned it here and on Twitter, I contracted a virus. Mercifully, it seems to be on the wane (hurray, Tim’s immune system!) but while I was in the throes of my illness, I did something I hardly ever do, which is turn on CNBC (the total amount of television I watch in a year is probably a few hours, at most, and I only vomit my way through CNBC viewing during Fed announcements).

Anyway, the topic of discussion was General Electric (GE), which is my largest non-ETF short position. I took this screenshot earlier today, although I think it fell lower…………

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I didn’t catch the name of the segment I was watching, but it was probably Fast Money, since it was a bunch of balding, overweight white guys yammering endlessly bullish things about stocks. Commenting on the decline in GE, one of the syphilitic tubbies said, in a New York accent, “So how much downside is der in GE, huh? One dolla? Two dollas?” There was a brief moment of silence, and then one of the other tubbies said, “Why couldn’t it go lower”, to which the original fat tub said, “I don’t know.

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And that, my friends, is the entire wisdom of CNBC encapsulated in three monosyllabic words.

My answer to this putz is simple: GE has plenty more downside potential. Your indiscriminate declaration that there could only possibly be one or two “dollas” of downside risk is a ludicrous pontification, bordering on magical thinking. I hope your portfolio gets torched, you imbecilic yo-yo. You deserve to be on CNBC.

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