My First TV Review
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If you missed last night's Kudlow & Co., you can see the video here. While readers discussed the pros and cons of the appearance, Dealbreaker actually ran a review of it.
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Kudlow & Co. Appearance (5/14/08) (The Big Picture)
We've taken some gentle shots at Barry Ritholtz before, but man, did he outclass'em on Kudlow last night. Going up a panel of, frankly, nutjobs, Barry was cool and logical, while the rest were, well, a bit nutty. The most ridiculous part was when they implied he was a hypocrite for owning stocks, while also thinking stocks might have further to fall. That was the point it was obvious that none of them really managed money before, or really had the slightest clue what he was talking about. At one point, Don Luskin said: "If your FusionIQ (the name of Barry's firm) ever gets to 100, short it." (jerk).
Thanks, guys. I should be only be so lucky as to have such reviews all the time...
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Source
Opening Bell: 5.15.08
Joe Weisenthal,
Dealbreaker, May 15, 2008, 7:08am
http://dealbreaker.com/2008/05/opening_bell_51508.php
Thursday, May 15, 2008 | 11:30 AM | Permalink
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Comments
this sentiment is very common; almost excruciatingly so.
that show is painful to watch at times.
Posted by: m3 | May 15, 2008 11:34:49 AM
Sorry Barry, but, at that time, Kudlow & Co is against Access Hollywood. I'd rather watch Maria Menounos & Nancy O'Dell.
Posted by: Christopher | May 15, 2008 11:44:34 AM
I'm sure it's shit like this that makes Buffett live in Nebraska.
Barry, the next time you face that crew down, I would be glad to lend you my sidearm. Good work; I think the review is on target. It's always a bad sign for your opposition when they have to resort to ad-hominem attacks and just plain making shit up.
Posted by: Blutskralle | May 15, 2008 11:46:31 AM
I dunno why people like Luskin get asked to comment on anything - As far as I can see, his major accomplishments were getting booted from TheStreet.com and running a mutual fund into the ground!!
Posted by: steve | May 15, 2008 11:46:41 AM
I didn't see the show last night bud did watch the cnbc clips this morning. I also commend you on stayin' classy, San Diego; I mean New York. You really did outshine the rest of the guests by not getting angry and are a model guest for TV. It is a surprise to see a guest on Larry's show actually listen to the other guests as opposed to talking over them to crowd out their opinion.
Posted by: joannaz | May 15, 2008 11:50:33 AM
I'm glad they gave you a decent review.
Most of those panelists are total nutcases. All are there to push the message of the party and to gather support for the new USSA (not a misprint).
Posted by: blin | May 15, 2008 12:00:45 PM
I simply can't watch Kudlow....I think the man used to ride the short bus when getting his education....he seems overmatched in the neuron department by most of his guests...and I am very much a conservative..he may well be smarter than Luskin, however.
Bruce in Tennessee
Posted by: Bruce | May 15, 2008 12:01:47 PM
Having to appear with Luskin is intolerable cruelty.
Posted by: rob | May 15, 2008 12:03:50 PM
Don Luskin said: "If your FusionIQ (the name of Barry's firm) ever gets to 100, short it."
Isn't this same guy who writes columns in 'Smart-money" and said $100 oil my foot when it was trading at $55 in April 2005?!
http://www.smartmoney.com/ahead-of-the-curve/index.cfm?story=20050401&split=0
"...To some extent it's based in simple animal physiology. Right now everyone in the world who has been long oil and long oil stocks is a winner, and is feeling intense pleasure. Conversely, everyone in the world who has been short them is a loser, and is feeling considerable pain. People, like animals, tend to repeat experiences that have felt good, and avoid experiences that have caused pain.
So now the course of least resistance is to be bullish on oil. It's animal instinct. And frankly, most of the rationales offered to support that instinct are just that — rationales. I've never met Goldman's analyst — I don't even know his name. But I'll bet his mind was made up before he even thought about it. Seek pleasure. Avoid pain.
But the market is an animal, too — and a particularly aggressive one. It delights in laying traps that trick investors, using the incentive of pleasure and the punishment of pain. Inevitably, the very thing that investors are most certain will bring pleasure will be the thing that causes them the most pain. Anyone who jumps on the oil bandwagon now with pleasurable visions of $105 in his head is setting himself up for nothing less than agony.
If such a large fraction of the rise in the dollar price of oil is really the dollar's fault — and not oil's — then to think that the oil price will double from here would seem to require that the U.S. dollar collapse to catastrophic lows. For that to happen, we'd have to have significantly more inflation than we've already had over the last two years."
Posted by: Nihilism | May 15, 2008 12:04:04 PM
Well done Barry. He's a clown.
It would be hilarious to assemble a media montage of the different talking head soundbytes and "sure things" over the past few months, when and if your "haven't hit the lowest lows" position is realized...
Posted by: CPJ | May 15, 2008 12:09:49 PM
Barry, when you get your own segment on Bloomberg...I'll put batteries in the remote and tune in.
But there's NFW I am subjecting myself to CNBC....especially not the Kudlow and Company propaganda hour.
Posted by: Kp | May 15, 2008 12:18:23 PM
Watching that segment was painful. DealBreaker certainly called it well. Barry was very impressive under the barrage of adolescent talking heads. (No offense to youths intended.) A big sigh that those men are even televised; it bodes yet more ill for this country. Well, perhaps we can take comfort if Luskin put his "margined" money where his mouth was...
Posted by: Karen | May 15, 2008 12:21:40 PM
Luskin is sort of like Kudlow's Stuttering John (http://en.wikipedia.org/wiki/John_Melendez) He says outrageous things, which is likely good for ratings. I have to admit, I find Luskin interesting to watch, just wondering what he is going to say next. I always wonder if he is as obnoxious in reality as he is on TV. Maybe someone will run a tell-all book about the Kudlow & Co. and we will all find out.
Luskin may be fun to observe, but he has demonstrated he does not have the ability to run money. This is the critical distinction to make when watching. I factor what the money managers say for trading decisions, I watch the financial commentators for entertainment and as foils for the money managers. Controversial maybe, but K&C is still a good show.
Posted by: JMH | May 15, 2008 12:29:08 PM
I watched the clip and yes, that was painful. Listening to those guys is worse than listening to Mike Norman and that Michael Bolton look-a-like Re/Max guy on Fox. Barry, great job staying professional which cannot be said of the other jokers. I now recall why I stopped watching CNBC and Fox......and pretty much all TV media for that matter....
Posted by: Flic | May 15, 2008 12:32:37 PM
I admire your stones just for stepping into Larry's echo-chamber. Unless an admirable guest is coming on (that'd be you, ya big lug), the only time I watch Kudlow & Co. is if I am in a good mood and need to get out of it fast. Yelling at guys like Luskin through the screen will do that. Larry seems married to his goldilocks agenda driven worldview. The real economy is no longer meaningful to him. But Larry is polite in his delusional thinking and seems like a decent sort. Luskin, on the other hand, is a pompous boorish dandy. I've seen him pull the same B.S. with Schiff. Now Schiff himself lacks the social graces of our own Mr. Ritholtz, but again, Schiff at least bases his ideas in reality and puts his skin in the game. All in all Barry did a fine job standing up to a wall of supply side agenda driven drivel. Though the occassional bucket of reality cannot douse the fire of four who will twist the facts to their agenda rather than follow the facts to their logical conclusions.
Posted by: Scott | May 15, 2008 12:33:09 PM
Luskin couldn't run money if he had tomorrow's headlines. That's been proven. Its' almost fraudulant to run a guy like him out there under the banner of intelligent market talk.....but most of these guys live under the old phrase..."fake it till you make it."
Posted by: Matt M. | May 15, 2008 12:44:32 PM
Watching Kudlow is like waiting at a stop sign for it to turn green.
And then you show up with a bucket of green paint and a brush.
I'm pretty sure the audience is red/green color blind, though,
so I'm not sure that bucket of paint will make a diff.
Posted by: KnotRP | May 15, 2008 12:52:28 PM
Kudlow is like listening to a speech from David Lareah, Lawrence Yun, Angelo Mozlilo or ... Baghdad Bob. Simply no value and stopped a while ago...got nothing, absolutely nothing other than shill spew.
Posted by: stuart | May 15, 2008 1:01:20 PM
Well done Barry. I would have blown my cool and gone off on those blind idiots.
I think Kudlow was relapsing into his 80's drug abuse.
Posted by: Hoppy | May 15, 2008 1:02:02 PM
At least Kudlow acknowledges the inflation threat. But... he can't have it both ways. Cinderella won't be able to afford her glass slippers nor a ride to the ball...not to mention the lump of coal she needs to cook her bread.
Posted by: Bearnanke | May 15, 2008 1:10:09 PM
Watched it live and it was painful. Do you need pharmacological help to stay so calm whilst being surrounded by such braying ninnies?
Posted by: Fear the Data | May 15, 2008 1:10:38 PM
You can tell alot about the character of the individual that appears on Kudlow by how they dress.
Someone tell Luskin to stop throwing a suit jacket over his AC/DC concert shirt. While Kudlow's at it please for everything good flip Jerry Bowyer a $200 to get to Men's Wearhouse and by a new suit. That tweed sport coat thrown over a mock turtle neck is horrid.
You manage or advice on other people's money! Start looking like you have seen more than a few hundred dollars in your life before. Geesh.
Posted by: johnnyb | May 15, 2008 1:11:17 PM
For the life of me I can't understand why you continue to frequent this show; LC rarely lets you complete a sentence let alone develop a thought! I realize you have to keep your mug in public but how much humiliation is it worth? Anyways keep on truckin; for the most part I think you are right on message and your blog is a must-read for me daily..Thanx..
Posted by: scubajwd | May 15, 2008 1:35:40 PM
True, it is awfully lucky to get nice reviews, but...
You do deserve it. First you give pithy and useful insight into markets generally. Second, to stand up against those guys on their turf, in what is effectively a rigged game (the point of the game isn't truth, the point is selling ad space which you do by keeping the mob entertained), is truly impressive, and very, very rare.
Enjoy it!
Posted by: VoiceFromTheWilderness | May 15, 2008 1:36:21 PM
BR,
You showed some great Character, and maturity last night... When Luskin said that I was surprised when Kudlow prompted you you didn't say..."What am I 12 years old?... how about "I'm rubber you're glue"".
I loved when Gasparino threatened to tear him a new asshole a few months ago.
Luskin, I would be surprised if he pulls on 107 on the ol' IQ test.
Thanks Barry.
Posted by: Eric Davis | May 15, 2008 1:46:47 PM
