Bolling on Bolling (the Admiral)
Last week, we noted that Eric Bolling -- the Admiral -- had bolted CNBC's Fast Money for Fox.
Eric reached out to me to correct some of the commentary at that post. In fairness to him, I offered TBP as a forum for him to tell his side of the story.
In his own words, Eric Bolling:
"I want to thank you for giving me a minute to explain what has been going on. It was announced that I left CNBC during Fast Money tonight (9/4/7).
I wanted you and your viewers (web, tv, print) to know that I left primarily because of the amount of time the show was taking from my family. From the first eye-opener, very early in the shows development, a viewer emailed me saying that he bought ICE stock. I then realized the awesome magnitude of responsibility I was taking on. EVERY recommendation (aside from the producer elicited segments) I made was done with an enormous sense of responsibility. I spent literally hours upon hours researching, prepping and brainstorming for each show. I hate to be wrong- I am driven by the fact that some people are trading on my thoughts- some trades are winners and some are losers. I know, that's the nature of the game but I want everyone watching to win (if you aren't watching, you're on your own).
In hindsight, I look upon the 2 years I spent at CNBC proudly. I had the opportunity to meet CEO's, journalists and analysts. I was able to ask them tough questions and learn from them. I hope that I, in turn, gave viewers some insight into the psychology of trading- help traders get a sense of when to hold 'em, when to fold 'em...
I have no solid plan for the future except to try to spend more time with my son and wife.... the rest will fall into place. I will continue to correspond with most of the awesome people I met on this "wild ride"....Ritholtz, Cramer, Greenberg, Kass, et. al.
Eric Bolling, Admiral (ret.) . . . for now.
>
Thanks, Eric. Good luck in the future . . .
Thursday, September 06, 2007 | 10:21 AM | Permalink
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» Eric Bolling On Why He Left Fast Money from Specious Argument
Eric Bolling commented on his departure over at Barry Ritholtz's The Big Picture: Bolling on Bolling. As I stated in a prior post, I thought Bolling was the strongest panelist of the group and had the most respect for him.... [Read More]
Tracked on Sep 6, 2007 4:28:09 PM
Comments
We miss you Eric, but I'm happy for you...
that you chose your wife and son over us.
Life is too short...
You always give us sound investment advice
and we will be watching for you on fox:-)
Posted by: R. O'Connor | Sep 6, 2007 10:37:53 AM
If he is, indeed, heading to Fox...BE A MAN ABOUT IT!!!
You do a disservice to people who truly want to spend time with there family by using that as your excuse to not come clean on your intentions.
And the story about the caller on ICE......come on give us a break.......you learned well on fake compassion day....
Ciao
MS
Posted by: michael schumacher | Sep 6, 2007 10:47:24 AM
How responsible was it to say you shorted GOOG based on a dream?
Why listen to conference calls, plod through SEC filings, and create projected earnings models when all that's really needed for trading success is deep REM sleep, huh?
Posted by: Groty | Sep 6, 2007 11:05:50 AM
Barry don't know if you've gone on your vegas trip yet but thought you might be interested in this, you can take a flight in a Soviet MIG while you are there:
http://www.prweb.com/releases/2007/9/prweb551237.htm
Posted by: rob | Sep 6, 2007 11:05:51 AM
**If he is, indeed, heading to Fox...BE A MAN ABOUT IT!!!**
Say wha?? You mean be stupid and publicly bust his no compete, just so he'll have credibility among a blogs readers like you?
**You do a disservice to people who truly want to spend time with there[sic] family by using that as your excuse to not come clean on your intentions.**
News Flash: People you watch on TV don't owe you jack squat.
And not that it matters, but I am a big time family man myself... but I can't fathom how my own personal life even tangentially relates to someone's plans/non-plans to make TV appearances.
Posted by: jeff | Sep 6, 2007 11:12:09 AM
I think this statement is a good one. I would think we can all appreciate that a man wants to have more time with his family, and that with the show's popularity he was putting so much time in he couldn't have much of a life outside of work. Keep up the good work Eric!
Posted by: Aaron | Sep 6, 2007 11:15:09 AM
OECD: U. S. Could Go Into Recession
The OECD expressed concerns about the knock-on impact on the world economy from the credit crunch triggered by the losses sustained by financial institutions as a result of defaults on home loans to Americans with poor borrowing records and said it could not rule out a recession if an imminent slowdown in the world's biggest economy turned out to be worse than expected. "Downside risks have become more ominous," the OECD's chief economist, Jean-Philippe Cotis, said in a statement.The OECD has pencilled in a sharp reduction in the pace of growth in the US in the second half of 2007. "Our diagnosis is a slowdown. We cannot rule out a recession," Mr Cotis said. The OECD admitted the credit crisis had taken it by surprise. "What we had not forecast was the extent of the spread of this financial risk beyond the boundaries of the US," Mr Cotis said.
Wall Street was taken aback by news that pending sales of already-owned US homes fell by 12% in July to their lowest level since September 2001. Ian Shepherdson, economist with High Frequency Economics, said the decline in the pending sales index in the past three months had been the steepest since the market started to turn down two years ago. "This is disastrous," he added.
Posted by: VJ | Sep 6, 2007 11:16:25 AM
jeff-
you miss the whole point......
you are correct.....he does'nt owe me (or anyone else) anything. However his job is to get people to believe him with his analysis on why to buy or not buy a particular stock...
At this point I don't believe a thing he has said. And using the family thing is just so devoid of any creativity. It is akin to John Edwards using his wife's illness to drum up votes. Only this time MR. Bolling thinks that people will believe the "family time" line......as if we retail plebs can't figure out what he is really doing without HIS version.
Sorry nice try....
Ciao
MS
Posted by: michael schumacher | Sep 6, 2007 11:38:07 AM
he reminds me of Mr. Bean.
Posted by: big fat mary | Sep 6, 2007 11:38:09 AM
Despite some of the nasty things you people are saying about Bolling, the fact is he made money for me. Money as in cash, $'s, that I would not have had as a result of his suggestions.
Eric -- thanks, and 5 days a week is way too much for anyone. Can you maybe give us at least one day?? Please. My portfolio needs it.....
Posted by: KenC | Sep 6, 2007 12:04:26 PM
Dang! The guy tries to shed a little light on his situation and leave on a positive note and the haters come out of the woodwork! Sad.
Best of luck Eric. If I had your money and wife the only Fast Money shot of me would be the live feed from an "infinity pool" in Cabo! (And with the time zone difference it would work out well!) *L* I can understand not wanting a nightly gig, but please do get Fox or CNBC or Bloomberg or somebody to really start getting into the commodities and options and charting for that matter. (Years ago CNBC used to have John Murphy. Fox has Gary B. Smith but frankly the graphics of their charts are horrific. )
Good luck.
Cha-ching!
Posted by: Mike G. | Sep 6, 2007 12:21:36 PM
ms- what's with the vitriol? i'm sure he's upset that you don't believe him. what you believe or don't believe is a problem for you and you alone. his job is giving his point of view, having an opinion, not getting you to belive anything regrdless of the fact that you do seem to believe just about anything that fits your preconceptions. anyone can see how important opinions are from listening to yours, i.e. not important at all. make me believe otherwise.
ciao, my ass
tom c
Posted by: tom c | Sep 6, 2007 12:23:56 PM
Eric, You're the greatest trader I ever took advice from. Stay with TV. Investors need you. If you are going to FOX, they have found a treasure, and I am ready to switch with you.
Posted by: John | Sep 6, 2007 12:38:22 PM
Haters and Trolls,
The guy didnt have to come on here and use some class to set the record straight.
Eric,
Thanks for all the hard work you did on FM, for a developing young trader like myself your insights were invaluable. Sad to see you go. You will be missed.
Adam Coleman
Posted by: adam c. | Sep 6, 2007 12:40:08 PM
Eric,
I would like to say thanks to you for all the commentary on Fast Money, and you will be missed. I always enjoyed listening to your opinion whether I agreed with it or not, and I think you were the most consistent person on the show, though I enjoy the others as well.
I understand the family thing as I left my job on Wall St. last year to do the same. Don't worry what others think and do what's right for you. Life is too short. It would be awesome if you entered the blogosphere like Barry and did commentary part time. Something to consider.
Good luck to you and your family.
Posted by: Sandy | Sep 6, 2007 12:56:58 PM
Bolling is a class act and a very talented trader
maybe some of the haters and trolls on this site would have a sense of decency once in a while ..... instead of always adjusting the Tin-Foil Hats to spew out their never-ending conspiracy theories and hate-filled diatribes .... get a life , pathetic losers
Posted by: tt | Sep 6, 2007 1:02:52 PM
Looks like Bolling is calling a Fast Money top. In that trade I think he's right on.
Posted by: KP | Sep 6, 2007 1:04:27 PM
we shall see how truthful his statement about family is.......
You all act as if this guy is any different than the thousands of traders who would sell their own family down the river if it made them a buck and you know it........but I guess it's different this time.
There is no difference in what he has said than Cramer spewing forth his "it's been done at places I have worked....but I would NEVER do it"
no hate here...just reality and reading between the lines. You all should try it sometime...it makes things alot easier to put into perspective than just having something interpreted for you.
Ciao
MS
Posted by: michael schumacher | Sep 6, 2007 1:08:14 PM
MS- "...just reality and reading between the lines. You all should try it sometime...it makes things alot easier to put into perspective than just having something interpreted for you."
So if he ever shows his mug on TV again I guess he was lying? Is that what "reading between the lines" is? I could see him being an occasional "contributor" or doing a one day a week think (like one of the Fox weekend shows) and to me that would not make him out to be a liar at all. Deny it all you want MS, but when I read between your lines, I see a hater.
Posted by: Mike G. | Sep 6, 2007 1:23:05 PM
Bulls & Bears with Eric Bolling in the mix, Yeah! Sounds like fun!
The real reason Bolling left CNBC is because his crush Liz Claman is headed there lolol j/k
Posted by: Mike.L | Sep 6, 2007 1:24:41 PM
Is his name really Michael Schumacher? lol
Posted by: Mike.L | Sep 6, 2007 1:28:01 PM
The original Fast Money Four (Five with Dillan) were the best combination of viewpoints I've seen on any show on trading/investment.
It's too bad the faces are changing, though the new ones are also good.
Thanks for sharing your time with us Eric! Hope to see you in the future somewhere.
Posted by: marco hunter | Sep 6, 2007 1:39:48 PM
Liz is fine, but I'm thinking she has little to do with it.
http://www.traderdaily.com/asset/1306.gif
:)
Posted by: Mike G. | Sep 6, 2007 1:41:14 PM
Oh, I see - at CNBC he had to be responsible, at Fox he doesn't.
I guess that confirms how I feel about Fox.
Thanks for clearing that up!
Posted by: donna | Sep 6, 2007 1:44:17 PM
I have followed Eric for years. He has established himself as a successful trader. I doubt that he is doing tv for the money. Is it possible that he just enjoys sharing trading insights? Is it possible that he does value his family life? Besides, who wants to work all day and then all night too?
Posted by: San | Sep 6, 2007 1:44:59 PM
