'Dennis Kneale Idiot' Has 14,000 Results On Google (Great Clip)

Click Photo For VideoDennis Kneale Won't Shut Up About Financial Bloggers

Let me first give Kneale credit for voicing and quoting his vocal opposition.  No other way to slice it, that's solid journalism, and demonstrates integrity. 

I covered it in greater detail yesterday, but I will answer your question again.  The reason for the strong response (criticism) to your excessively loud, public and bullish call is straightforward and has 2 components:

1. It is wrong.  Or more succinctly, you are wrong.  It was discussed yesterday.  Things aren't getting better.  There will be no rebound.  The new normal is some fraction of the old.  Read Bill Gross from this morning.  Learn it.  Memorize it.
2. This is the important part, please pay attention.  Because of point #1, the market will eventually head much lower from here.  (And in fact today we might have seen the start of that move.)  So ordinary people who buy at these levels are going to get creamed, again.  Now, examine your pulpit honestly for a moment.  You have been given a visible role on CNBC and have millions of viewers every day who hear your words.  What information you choose to present to viewers in your blocks of face time has a tremendous impact on their investment decisions.  Most are likely still in cash and are anxious about missing a moving market.  These are not professionals.  These are my parents or yours.  The markets are incredibly mystifying for the great majority of your viewers and so they rely on experts to help them make decisions.  You, simply because of your pulpit, are considered one of these experts.  But you are merely a journalist.  You do not make your living from your ability to interpret the numbers and create a profitable trade.  You report on people who interpret numbers and make trades.  No personal offense intended.  That is the nature of your business. 

Nutshelled, my main contention about your exuberantly bullish call is that it is both wrong and harmful.  In the blogosphere, where your audience is limited, you can be wildly bullish and hurt no one, because few are listening.  But when you prattle on confidently in front of millions every night, and you turn out to be wrong months later, your bullish fun TV ratings game just cost thousands of families 30% of their portfolios.

Be aware of your power and pulpit, and please begin to use it more judiciously.

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Comments

[Harry]

As I've said over and over on various blogs sites regarding Mr. Kneale. He has a Bachelor's Degree in Journalism. End of story.

[DailyBail]

Regardless of education, he needs to be more careful with his green shooting lest he be wrong.

[Ain't Bullshittin']

They get paid to talk their "book" on CNBC...problem is that no one over there has even read the last chapter. It's Chapter 13, for those who purchased the book.

[JimmyD]

Dennis Kneale a COMPLETE LOSER!!! He's the greatest Market Timer though. When he's so HAPPY about the Market,,,you SHORT the HELL out of IT. When he's so DOWN, but bragging he called the BEAR Market; when he really was so BULLISH and saying BUY-BUY-BUY all the way down to the SUCKERS that are STUPID enough to Listen to HIM....that's when you BUY!!!

Keep this MORON on TV,when you learn how to Listen to his LUNACY,,he's a FREAKING GOLDMINE!!!

[DailyBail]

AB.

Nice line. Got me to chuckle a bit.

[genx antihero]

Add 1 to that total....

http://genxantihero.blogspot.com/2009/08/dennis-kneale-is-idiot.html

[Paul]

add another 1!

[Sri]

this guy is a pile of shit. he should die. have a great day everyone!

[Fred]

This article is spot on. I am sure Dennis Kneale is almost back to even from all that he lost in 2007 through early 2009. Now he has been setup and is supremely confident...and the market will slowly ease him into another 50% loss before he decides that maybe being so bullish in the face of an obvious weak economy was not so smart. Whoops, sorry, what he'll do is blame us realists for making the market go down. This guy is almost as big a clown as Cramer.

[Zarathustra]

It is great to see that Bart Stupak's sellout on the healthcare bill has shamed him so much that he has decided to leave his job. He should to wear the scarlet letter A for abortion. When you decide to play in the devil’s sandbox, you have no right to lead or represent people.

“After selling his soul to Nancy Pelosi, it appears that Bart Stupak finally found the courage to tell her no," said Ken Spain, communications director of the National Republican Congressional Committee. "The political fallout over the Democrats’ government takeover of health care has put the political careers of many Democrats in jeopardy thanks in part to Stupak’s decision to abandon his alleged pro-life principles."

God help him.

[DailyBail]

This guy is almost as big a clown as Cramer.

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