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On Jumping Sharks With Barry Ritholtz

Tyler Durden's picture





 

Barry Ritholtz is once again in Zero Hedge-marketing mode, which is probably not too surprising: this marks only the second time in under a week in which Mr. Ritholtz has exhibited a fascination with Zero Hedge, previously demonstrating a borderline obsession by actually scouring through tweet mentions of our humble blog. And humble we are - we have paid Barry exactly zero for this ongoing free advertising fest. That said, we are confident Barry will be happy with us reposting his entire post for our readers because he does bring up some valid questions, to which we provide our own brief perspective.

To wit (and we do wonder just which blogger types out there actually relish their anonymity for the sake of retaining their jobs):

I was speaking with a few other trader/blogger types (they best remain nameless so as to keep their jobs) and this interesting observation was made: It has been exactly one year ago today when a (mostly) fawning NY Magazine article on Zero Hedge came out: The Dow Zero Insurgency.

Since that article, argued one of the hedgies in the group, Zero Hedge has seen their influence wax, then wane. The incisive, no hold bars critiques of Goldman Sachs, HFT, regulatory failures and corporate excess seems to have gotten lost in a sea of conspiracy theories, standard gold bug rhetoric, and lots of C grade commentary.

What made the blog great — a singular expert voice (with a few supporting characters) that wrote with passion and insiders knowledge. But that voice seems to have gotten lost in a sea of supporting characters; the original proportions have been inverted.

Its not that the good stuff isn’t there — it is, if you hunt for it. Its just that it is now surrounded by so much other stuff it becomes challenging to locate. (It doesn’t help that lots of writers seem to publish under the name Tyler Durden)  This seems to be the same challenge that many of the multi-author sites have — from Street.com to HuffPo to Seeking Alpha to Minyanville to Business Insider — they must wrestle with this issue on a daily basis. Can you produce more content but still maintain the level of intensity and passion when its a team, and not a single voice?

Whenever a narrow focus and intensity is replaced with an broader emphasis on well, nearly everything, must something get lost in the expansion? I still read ZH — but much less than I used to, now that the inmates have taken over the asylum.

Crowd Query
A what point does a blog jump the shark? Not just Zero Hedge, but The
Big Picture, or boingboing or your favorite blog ___ here?

We forgot to mention that the whole post was prefaced by a very informative quote by Paul Krugman: "Whom the Gods would destroy, they first put on the cover of Business Week." Yes, the same Krugman as seen below:

(at least Newsweek has been destroyed so far)

So, a few quick observations:

First, we would like to make a slight correction to Barry's second paragraph: you see, where the author of Bailout Nation (Amazon Bestsellers Rank: #221,485 in Books, full link for those who wish to purchase it - see we return free marketing favors) is wrong is that our critiques of "Goldman Sachs, HFT, regulatory failure" (oh and he forgot to mention prop trading, most definitely prop trading) were in fact considered "conspiracy theories" by pretty much everyone, including said author himself, until such time as they were proven to be in fact, well, fact.

Second.... well, here we were going to say something smart and worthy of at least a grade B in commentary, and provide a witty yet insightful observation of Barry's own travails as a "Wall Streeter who blogs", but you see the inmates took over, and are covering just about everything else, which just so happens to be, is far more important. Furthermore, we are confident that Barry will do a great job of providing first hand commentary vis-a-vis the aforementioned, on one of his daily appearances of CNBC's crack trading show, Fast Money, where he has recently become a staple, and which features such other prominent hedge funders (or is that fund of funders, we don't know: we just comment on Wall Street)-cum-Oscar-worthy Wall Street 2 stars, as SkyBridge Capital's (and Obama basketball nemesis) Anthony Scaramucci.

Oh, and third, and last, we would like to add one thing. A blog, we are often reminded, just like a waxing or waning company (even one trading at 100x forward multiples), is only as good as the quality of its products, or, as the case may be, content. In a world in which the next best blog is just a mouseclick away, quality of content tends to be a critical driver of that one most important thing: reader interest (especially of the sophisticated variety, because when it comes to discussing such issues as CDS, HFT, commodity contangos, VWAP, and so forth, especially in less than a 100 page slideshow format, we are confident that Barry would agree readers should at least pretend to be sophisticated) is just about the purest indication of not only whether the blog is right or wrong, waxing or waning, but also provides the best answer to Mr. Ritholtz on his rhetorical question of shark jumping.

So here is our humble 2 cent contribution to Barry's question.

This...

and this...

So as we muse what other C grade stuff to discuss next, here is our own crowd query:

How the hell are Tech Crunch and Mashable considered business blogs?

 


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Mon, 09/27/2010 - 21:03 | Link to Comment AccreditedEYE
AccreditedEYE's picture

I repeat:

F*ck Ritholz. His investment advice has the shelf life of seconds. He is a former member of a ragged house, long bereft of lordship.

Mon, 09/27/2010 - 21:33 | Link to Comment FischerBlack
FischerBlack's picture

OLOL.

 

So who's the King, and when is he returning? (And does Blankfein have the Ring yet?)

Mon, 09/27/2010 - 21:40 | Link to Comment AccreditedEYE
AccreditedEYE's picture

+1 LOL! I think we'll have the answers to your questions soon enough... (I found it to be an excellent quote to sum up the house of Lehman)

Mon, 09/27/2010 - 22:42 | Link to Comment hedgeless_horseman
hedgeless_horseman's picture

...or is that fund of funders...

From the original fund of funders, "Jail wasn't really as bad as most people thought," says Bernie Cornfeld with a sanguine shrug. "Everyone was very nice."

"Do you sincerely want to be rich?"

http://www.thehallofinfamy.org/inductees.php?action=detail&artist=bernard_cornfeld

Mon, 09/27/2010 - 22:45 | Link to Comment Thomas
Thomas's picture

The comment section is filled with Deep Thoughts by a gaggle of sociopaths; it's what makes it so great.

Mon, 09/27/2010 - 23:31 | Link to Comment hedgeless_horseman
hedgeless_horseman's picture

A gaggle of sociopathiic wild geese, having flown the market, hoping to return again some day? 

http://en.wikipedia.org/wiki/Flight_of_the_Wild_Geese

Tue, 09/28/2010 - 07:58 | Link to Comment jimijon
jimijon's picture

Or a gaggle of black swans?

Tue, 09/28/2010 - 05:18 | Link to Comment lewy14
lewy14's picture

I resemble that remark. <rimshot/>

 

Mon, 09/27/2010 - 21:07 | Link to Comment Ben Graham Redux
Ben Graham Redux's picture

I used to visit Barry daily.  I haven't visited in at least six months. 

Mon, 09/27/2010 - 21:18 | Link to Comment MountainMan
MountainMan's picture

So true, he was my daily staple...now I pop by once or twice a week to catch up with BR.

Mon, 09/27/2010 - 23:05 | Link to Comment mikla
mikla's picture

Ditto.  I don't read Ritholtz anymore.  I'm looking for content.

Curiously, this graph *does* actually approximate my interest between the two blogs (except for an increasingly exponential delta).

Tue, 09/28/2010 - 02:54 | Link to Comment As Seen On TV
As Seen On TV's picture

Hey, it's above the 150 MA, so... BUY BUY BUY!

Tue, 09/28/2010 - 05:35 | Link to Comment scatterbrains
scatterbrains's picture

now if that chart were an ink plot test what does it say about my personality characteristics and emotional functioning if I said with all seriousness that it kinda looks like some blue monster giving the weaker red guy the high hard one.. and the red guy even looks like he's kinda enjoying it eww.

Tue, 09/28/2010 - 08:09 | Link to Comment mikla
mikla's picture

"Hey ... whatchoo lookin' at?"

Tue, 09/28/2010 - 08:36 | Link to Comment Pondmaster
Pondmaster's picture

Barry , many years ago (5-6) was excellent cutting edge market sense . Today .. well you can't post without a Wordpress password. Barry would regularly answer personal emails then as well. I thought he was very good . Today , he has gone commercial , his book , whatever it was ,led to his downfall . Greed and the desire for fame ( which could be apotential downfall for any of us)  has led to his fall imho. I follow him not. However in defense of one of his points. There seems to be a drop in quality on ZH from its humble beginnings . To many garbage articles , too much conspiricy crap , too much fear  mongering . Becoming like the talk shows that tout gold at the end and at every break . The ones that Congress is after . The BP spill coverage was also way off base ( G.W. and friends ). There is still myriad of cutting edge articles to be written . Please leave the nut stuff out . And , uh , I didn'y know anyone could post under the pen name Tyler Dryden ?

Mon, 09/27/2010 - 21:19 | Link to Comment -1Delta
-1Delta's picture

CR is good.  Barry is well... um ...useless for someone active in the market

Mon, 09/27/2010 - 21:31 | Link to Comment IdiotInvestor2
IdiotInvestor2's picture

I don't visit both Barry and Mish that regularly now. Maybe once/twice a week, and I used to read both every day. Especially during the housing boom and subsequent bust, they were the voice of reason. Mish has become too political for my taste (still like him). Barry's blog is simply no longer useful to understand why the stock market is behaving in sucha fashion.

 

Maybe there is some jealousy. ZH has done a phenomenal job of exposing so much of the shenanigans that go on in stock mrket these days - and have to mention this - with a great sense of humor. So conspiracy theory or not, it's FUN to read this site.

Also Calculated Risk does a very balanced, data driven commentary. I visit that blog everyday to see what new chart has been posted.

Mon, 09/27/2010 - 21:33 | Link to Comment svendthrift
svendthrift's picture

He wrote an excellent piece on the corporate control of our republic. He referenced the irrelevance of the R vs D/ Con vs Lib framework. It was an excellent contribution.

 

I do not understand these little blog wars. I notice they tend to involve a certain demograhpic.

Mon, 09/27/2010 - 21:55 | Link to Comment low_frequency_trader
low_frequency_trader's picture

Ditto BGR, except I never quite got to daily. Nothing to see there beyond Barry's outsized ego.

Mon, 09/27/2010 - 22:41 | Link to Comment berlinjames02
berlinjames02's picture

This article is an example of why ZH is the best blog on the internet. It doesn't apologize.

As I read BR's article and Tyler's response, it reminded me of a fat kid and a cool, edgy kid on the playground. The fat kid goes over to the cool kid and acts as pleasant as possible to receive acceptance and approval. The cool kid tries to provide the fat kid advice and says, 'Hey numb-nuts, you don't become a bad ass acting pleasant. So fuck off." The fat kid walks away and takes it as an affront to his personality without learning the lesson in the interaction.

Don't be bitter about the response, Barry. Learn the lesson.

Mon, 09/27/2010 - 23:31 | Link to Comment doolittlegeorge
doolittlegeorge's picture

been told to visit but never been.  he's for real.  i hate 'im.

Tue, 09/28/2010 - 00:06 | Link to Comment LowProfile
LowProfile's picture

...Barry who?

Tue, 09/28/2010 - 02:40 | Link to Comment Bananamerican
Bananamerican's picture

"6. Recession Porn “confusing: The flip side of the bullish trader sentiment is the obsession with every negative datapoint. From Roubini to Zero Hedge, people seem to be hunting down anything foreboding. (How funny is this tweetzerohedge once again pissed that asteroid avoided colliding with earth)"

and this....from Sept 20th...

"No, we are not still in a recession as some people have asserted. No,its not a depression. The wheel has turned, the trough is more than a year behind us. This is not a robust recovery, but the economy is now expanding, not contracting."


Tue, 09/28/2010 - 08:01 | Link to Comment Hephasteus
Hephasteus's picture

The data point manipulation of the economy is now out expanding the contracting economy.

Mon, 09/27/2010 - 21:10 | Link to Comment blunderdog
blunderdog's picture

I, for one, am very inspired to learn that this Barry Ritzhole person is still publishing his blog with the same level of passion and intensity that failed to attract my attention for even the briefest moment. 

Maybe he can work his way up to a gig at Gawker or something with that kind of incisive media commentary.  I hear there's not much money in solo blogging.

Mon, 09/27/2010 - 21:57 | Link to Comment carbonmutant
carbonmutant's picture

At least he's still in the top 10... right Barry?

Mon, 09/27/2010 - 22:30 | Link to Comment Conrad Murray
Conrad Murray's picture

I came to ZH through SA when I knew fuck all about finance and economics, but was hungry to learn.  The razor sharp wit and (way over my head) detailed analysis intrigued me.  I enjoy anyone who tackles serious issues and can have a sense of humor doing it.  It's been probably close to two years now, and I know more about how not just the business world operates, but the world in general, thanks to TD(s) and the rest who make it happen.  I enjoy GWs political pieces, Banzai's Desktop recreations, and even MHFTs nonsense on occasion.  So what if it's not granular dissection to the point of inducing migraines.  As for the commentary (I assume he means the comment streams), this is easily the best place around.

ZH, FTW!

Mon, 09/27/2010 - 22:37 | Link to Comment sushi
sushi's picture

Have to agree that this is the best site around.

With the help of TD and ZH I have mastered pretending to be sophisticated. I'm working hard now on pretending to be genuine.

Mon, 09/27/2010 - 22:43 | Link to Comment MountainHawk
MountainHawk's picture

Yup...my sentiments exactly.

Mon, 09/27/2010 - 22:55 | Link to Comment delacroix
delacroix's picture

don't forget Reggie.

Tue, 09/28/2010 - 08:35 | Link to Comment jimijon
jimijon's picture

Love Reggie... though he is a bit myopic when it comes to google vs apple.

Tue, 09/28/2010 - 09:08 | Link to Comment SamuelMaverick
SamuelMaverick's picture

Reggie is awesome.  He jumped the shark on his Rimm vs Apple vs Google thing though.  He got caught up in the Application stream of thought and was screaming at the top of his lungs " Rimm is dead ! "  Well, Rimm is coming out with the Blackpad that doesnt need apps to run webpages. In other words , apps are freaking irrelevant as of a few months from now. Reggies analysis was 100% spot on with one exception, he underestimated a company with good people who can react and change and grow.

Tue, 09/28/2010 - 11:19 | Link to Comment Maos Dog
Maos Dog's picture

but rimm screwed it up. The blackpad only works with the blackberry as the internet connection, so, they greatly limited their market for it. 

Think about it this way, if you have an andriod or an iphone, are you going to buy a blackberry to use the new rimm blackpad?

This is a WTF were they thinking moment.

Mon, 09/27/2010 - 23:32 | Link to Comment doolittlegeorge
doolittlegeorge's picture

exactly. i came here because of the impact on SA.  no doubt "something evil lurked here."  i can't help it.

Tue, 09/28/2010 - 10:33 | Link to Comment done with them all
done with them all's picture

Well said Conrad Murray, those are my feelings as well. ZH is a great site for learning

Mon, 09/27/2010 - 21:13 | Link to Comment SDRII
SDRII's picture

What a complete dilettante. It is a toss up which is more shallow his financial "accolades" or his "media" insights.

Mon, 09/27/2010 - 21:16 | Link to Comment Mactheknife
Mactheknife's picture

"conspiracy theories, standard gold bug rhetoric, and lots of C grade commentary."

Free advertising or not, it would seem that Barry boy wants to join "Fight Club". We assume he is aware of the initiation.

Mon, 09/27/2010 - 22:16 | Link to Comment Monkey Craig
Monkey Craig's picture

Barry Soetoro and Ritholtz check ZH regularly. The gold literature and punditry from Wayne Madsen are what makes this blog great.  Keep up the good work Tyler. Get the word out before these globalists take down our web.

Mon, 09/27/2010 - 23:08 | Link to Comment hedgeless_horseman
hedgeless_horseman's picture

Barry Soetoro of the Profit to Earnings ratio fame?

http://www.youtube.com/watch?v=t8TIpYr1mc0

Harvard, bitches!!!!

Mon, 09/27/2010 - 23:34 | Link to Comment doolittlegeorge
doolittlegeorge's picture

billionaires check this site regularly.  believe me.  especially when "the girls are in town."

Mon, 09/27/2010 - 21:16 | Link to Comment israhole
israhole's picture

Excellent!  I shot my tv full of buckshot about 18 months ago, so wasn't aware that propaganda man Ritholtz was now on CNBC daily, but I'm not surprised.  Last I knew, his blog had "articles" about him visiting the Hamptons, or which music was his favorite. LOL!

The Alexa chart says it all.  Too bad CNBC couldn't be plotted, or maybe it's covered by the x-axis? 

Mon, 09/27/2010 - 21:17 | Link to Comment fiddler_on_the_roof
fiddler_on_the_roof's picture

I like Barry, but I will say one thing, he totally blew his 30% Gold drop from 1250. He was predicting(with big "if/buts") sub-1000 around Spring 2010. He then totally ignored his call then. Gold sellers who took his advice were screwed, atleast so far.

Mon, 09/27/2010 - 22:19 | Link to Comment Monkey Craig
Monkey Craig's picture

+1911. All Ritholtz did was write a book about the financial crisis. Now he has an opinion on anything to do with the financial markets.

Ritholtz - go back to 'advising' clients and speaking on CSPAN. The blogs are for the real ballers like Turd Ferguson and Banzai.

Mon, 09/27/2010 - 23:36 | Link to Comment doolittlegeorge
doolittlegeorge's picture

yeah, yeah.  "wrote a book."  what a maroon.

Mon, 09/27/2010 - 21:18 | Link to Comment wngoju
wngoju's picture

yeah yeah, Ritholtz sucks.  holy cow zh, you are, like, so cool.  lookat all them hits!

I would like to see the correlation btw Sarah P's blog and this one.

well, back to Ritholtz...

Mon, 09/27/2010 - 21:29 | Link to Comment GoinFawr
GoinFawr's picture

and wngoju provides us with some of that 'C' grade commentary Rith was complaining about about... good riddance; don't let the keyboard break your teeth on the way out.

Regards

Mon, 09/27/2010 - 21:21 | Link to Comment truont
truont's picture

Here's some Grade B, C, F & H commentary:

Barry Can &%$# Himself.

Mon, 09/27/2010 - 21:24 | Link to Comment contrabandista13
contrabandista13's picture

I still look at the BP daily or almost daily....  Not for content anymore just out of habit and affection....  Having said that, as you are probably aware, I scan ZH at least 10 to 20 times per day, comment at least 2 times, when I'm not in a hurry and I can figure out the math problem and that's only when I haven't smoked some primo ganja, some times it takes 3 ot 4 tries....  Anyway, I wouldn't worry about "jumping the shark", that's what trading is all about...

 

Ciao,

 

Econolicious

 

PS... The answer you entered for the CAPTCHA was not correct.

Mon, 09/27/2010 - 21:26 | Link to Comment RobotTrader
RobotTrader's picture

Man, lots of angry guys hanging around these days.

Who has made the most bad calls?

Ritholtz?

Or many of you guys who have been short the market last few weeks?

Mon, 09/27/2010 - 21:27 | Link to Comment truont
truont's picture

We've been long gold, Robo...

And yourself?

Mon, 09/27/2010 - 21:29 | Link to Comment Tyler Durden
Tyler Durden's picture

Robo, please show how a short stock, long gold trade has fared...  you have charting privileges.

Here, we'll help you out:

 

 

Mon, 09/27/2010 - 21:32 | Link to Comment GoinFawr
GoinFawr's picture

Robo:  Weeeee're waaaaaaaitiiiiiing...

Mon, 09/27/2010 - 22:25 | Link to Comment taraxias
taraxias's picture

We're gonna wait a long time I'm afraid.

Alf has been more right than Robo, this is all we need to know.

No soft porn pics tonight, Robo? How disappointing.

Mon, 09/27/2010 - 23:04 | Link to Comment chindit13
chindit13's picture

My personal favorite is ten years, especially since in an MTV-level attention span world, it almost qualifies as "on a long enough timeline...."

Mon, 09/27/2010 - 23:08 | Link to Comment JW n FL
JW n FL's picture

Tyler why pick on Robo when You have me?

 

Sell me Tyler, I understand You need to put readers / clicks up every day... and I get that the end is near and Gold works well for Your personal Bank account... but buy high to sell higher is the advice You are pushing now a dayz? really? seriously?

 

So Mr. 5 year Chart... how close are you to historic highs adjusted in 1980's dollars?

 

Hurry! Buy While You can! Prices will not always be high! Buy High, dont be a sucker and Buy Low and Sell High... thats kensIann! Voo Doo Economics!

Tue, 09/28/2010 - 00:20 | Link to Comment Lord Blankcheck
Lord Blankcheck's picture

that's a ritholtz not just JUNK

Mon, 09/27/2010 - 23:40 | Link to Comment doolittlegeorge
doolittlegeorge's picture

i didn't do that.  i have standards.  (and you know of which activity i speak--the "j" thing.)  bulls and bears make money.  "watch out above" though if the "fixed" keeps soaring.  that could lead to a huge price drop in gold.  just a buying opportunity of course with QE 2 on the way.(!!!!???) in the meantime i don't know nothin' about nothin' occiffer.

Mon, 09/27/2010 - 23:51 | Link to Comment Arkadaba
Arkadaba's picture

How about the DXY - 5 years and 5 days

Mon, 09/27/2010 - 22:17 | Link to Comment AccreditedEYE
AccreditedEYE's picture

Robo, I know you are making $$$ on the long side. Your up a few bucks on VZ and various other blue chips. In all seriousness, great work man. But see it through the lens that it belongs in... those are short term moves. The way you keep coming across is that we have turned the corner and are back in the saddle of good times and prosperity. You're a chart man... look at a multi decade chart of the S&P. Does it look like we have cleared the danger zone yet?

I've gotten stopped out on a bunch of short trades in my short term accounts for the past month. I'm a big boy and I can deal. However, I really can't understand how you can look at the current state of world finance and think the Fed can declare victory. This market is literally sitting on fumes right now. I could wake up one morning and the market could be down 1000 pts and I wouldn't be surprised. I don't believe that we are on the cusp of the next bull run.

Mon, 09/27/2010 - 23:14 | Link to Comment chindit13
chindit13's picture

For the most part I can honestly claim to "read the articles" when Robo posts, and I do not think he believes the world has turned the corner at all.  I may not have read him correctly, but I think he is just of the view that one trades what the market gives you, even if it is lunacy.  Did any of you go long Pets.com back in the dot com days, even though you knew it would go to zero faster than a Fargo, North Dakota winter (Fahrenheit, not Celsius)?  One can say that it is merely picking up nickels in front of a steamroller, but this steamroller has been coming for eighteen months.  That's time for a lot of nickels, just so long as one doesn't get too greedy.  I never got the impression Robo is wedded to any position;  he just trades to make money, which would seem to be the proper motivation.  He also seems to have been right quite a bit.

Mon, 09/27/2010 - 23:25 | Link to Comment hedgeless_horseman
hedgeless_horseman's picture

flag as excellent (1)

Mon, 09/27/2010 - 23:43 | Link to Comment doolittlegeorge
doolittlegeorge's picture

THAT'S the ticket!  a "flag as excellent" option. (seriously.  this is my serious face now.)  we need to drop the "j."  leave that to the SA...i was gonna use a bad word again.  BUT I'M GETTIN' BETTER.  i'm gettin' BETTER.

Mon, 09/27/2010 - 23:35 | Link to Comment MayIMommaDogFac...
MayIMommaDogFace2theBananaPatch's picture

Still have never quite gotten over folks referring to Robo as "he." 

Yeah, I know the truth.

Mon, 09/27/2010 - 23:58 | Link to Comment Bolweevil
Bolweevil's picture

Interesting observation, man with a balloon on his head man. "His" choices of women to post are exceptionally PG perhaps unlike what a man with an audience would prefer.  Picking an androgynous name with a VickiesSecret model? You're suspect robo, or should I say L.O.L.A., Lola? 

Tue, 09/28/2010 - 02:33 | Link to Comment Reggie Middleton
Reggie Middleton's picture

You can trade on the fundamentals and be right as well. I know guys who have called the sovereign debt thing, the bank thing and a bunch of other "right" calls and did not have to stoop in front of freight trains to gather nickes. Yes, when the market discounts math, it hurts, but that has proven to always be a termporary thing.

ZH does have a conspiratory tone, but you know something, much of that tone is also correct. It just happens to sound conspiratory as well.

Hey, I also know a guy who swore to everybody that BSC was grossly overvalued selling at $180, LEH was at $60, and everybody laughed at him. They even made fun of him and the ZH guys when they said GS was grossly overvalued at $180. Well, as it turned out, those "conspiracies" were pretty accurate with the benefit of hindsight.

Tue, 09/28/2010 - 09:12 | Link to Comment WaterWings
WaterWings's picture

It's an easy play: "That's just conspiracy theory."

Told friends and family to buy silver - in quantity. I'm up huge. They still think its a poor investment. They'll ignore me even if they are starving to death - that isn't too far off. Civil society won't survive austerity measures...

Mon, 09/27/2010 - 23:15 | Link to Comment Cult_of_Reason
Cult_of_Reason's picture

re: Who has made the most bad calls? Ritholtz?

 

Read Ritholtz's call for 2006, He predicted Dow 6800 in 2006

http://www.thestreet.com/story/10260096/1.html

Cult of the Bear III: Getting to Dow 6800

http://www.thestreet.com/story/10262175/cult-of-the-bear-iii-getting-to-...

 

In 2006, Dow was trading between 11K and 13K (never even remotely close to Ritholtz's prediction)

 

I used to read the Big Picture, but not anymore due to its extremely poor content. ZeroHedge is trillion times better. Big Picture sucks big time lately.

Tue, 09/28/2010 - 06:27 | Link to Comment thepigman
thepigman's picture

I dunno, Robo. I don't think anyone's

crazy enough to be short Brian Sack

anymore. Course, with really nobody but

HFT, ragtag, and the gubbermint under you,

I wouldn't want to be long.

Tue, 09/28/2010 - 07:24 | Link to Comment jm
jm's picture

Robo:

Keep trading, and don't stop posting.  Everyone needs to constantly rebalance their thinking.  When I get a jab from you I know it's good-natured fun, not personal, and I love (most of) the pics.

Tue, 09/28/2010 - 09:15 | Link to Comment jimijon
jimijon's picture

Been long gold and silver and soon will be soon offering the world's greatest flip coin for all you spiritual traders. In pure .999 silver!

Taking pre-order now for:

The Ultimate Flip Coin

Mon, 09/27/2010 - 21:26 | Link to Comment Red Neck Repugnicant
Red Neck Repugnicant's picture

Quite frankly, I am more than a little chagrined that Ritholtz failed to mention my name. Obviously, I'm one of the main pillars in the ZH community, and I think that a little recognition for my efforts would have been warranted.

 

 

Mon, 09/27/2010 - 23:37 | Link to Comment MayIMommaDogFac...
MayIMommaDogFace2theBananaPatch's picture

Now that is @#$%^&* funny!

Mon, 09/27/2010 - 23:45 | Link to Comment doolittlegeorge
doolittlegeorge's picture

boj doog.  nam ad ouy.

Mon, 09/27/2010 - 21:26 | Link to Comment TooBearish
TooBearish's picture

Where the Fu#k is Marla dammit?!!  She's needed to keep Tyler on track, Project Mayhem is clearly off the rails!

Mon, 09/27/2010 - 21:29 | Link to Comment liberal sodomy
liberal sodomy's picture

Didn't scaramucci play the jew (Brian Schwartz) in "Porky's"?

Mon, 09/27/2010 - 22:35 | Link to Comment BrosMacManus
BrosMacManus's picture

C comment: Dude, your avatar creeps me out.

Mon, 09/27/2010 - 23:33 | Link to Comment Frank Owen
Frank Owen's picture

+1 Looks like a pedophile's mugshot.

Tue, 09/28/2010 - 00:47 | Link to Comment Conrad Murray
Conrad Murray's picture

Well, his boyfriend did get caught running a prostitution ring out of his house...not that he knew about it.  Noooo, of cawwwss naht.

Tue, 09/28/2010 - 01:16 | Link to Comment Problem Is
Problem Is's picture

Pedophile, Priest, Chairman of the House Financial Services Committee
What is the difference, really? Picture could well be the same... and it creeps me out, too...

Mon, 09/27/2010 - 21:36 | Link to Comment Atomizer
Atomizer's picture

Barry has lost his revenue stream. I too haven't wasted 2 minutes of my life to read his dribble.

Barry must have talked to Keith Rupert Murdoch about the great vast amounts of money to be made with George Soros/Maurice Strong paid online website propaganda model.

Mon, 09/27/2010 - 21:45 | Link to Comment AssFire
AssFire's picture

http://www.ritholtz.com/blog/

I read the blog he hosts and enjoy it. I don't understand why the dislike for free information...

I guess there are haters of Calculated Risk also?

Mon, 09/27/2010 - 23:48 | Link to Comment doolittlegeorge
doolittlegeorge's picture

totally.  bring assfire on CNBC i say!  (and again...i'm being serious!)

Mon, 09/27/2010 - 21:42 | Link to Comment FischerBlack
FischerBlack's picture

Hey, Barry! Didn't you ever learn that when the scoreboard shows you're getting your ass whipped, that's the time to step up the offense? It's not the time to be pointing out minor technical flaws in the other team's technique. At least the Durden family isn't trying to manage my money for a fee. Gotta love it when the 'Big Picture' amounts to nothing more than a commercial for your fund of funds of funds of ETFs.

Mon, 09/27/2010 - 21:42 | Link to Comment Apostate
Apostate's picture

Pussies are scared easily?

Mon, 09/27/2010 - 21:43 | Link to Comment bugs_
bugs_'s picture

we all know a blogger typer

Mon, 09/27/2010 - 21:44 | Link to Comment obobcatu
obobcatu's picture

I enjoy reading Barry's blog and find some pretty cool stuff there on occasion, but can you say owned?!?

Nice post zh! If Barry doesn't like the many posts from seemingly random authors, then skip it and move to the next post. It's what I do.

Mon, 09/27/2010 - 21:48 | Link to Comment miaent
miaent's picture

Think Barry is getting more publicity than ZH...;)

Tue, 09/28/2010 - 09:19 | Link to Comment MsCreant
MsCreant's picture

Yup!

Mon, 09/27/2010 - 22:04 | Link to Comment uno
uno's picture

Barry has very good graphic and links.  I do follow his site every few days.  He is still in the world of trying not to upset the status quo of Wall Street.  I remember how hard he lobbied for himself to be a regular on Kudlow, and then was upset when he was dropped.  He is trying to play the CNBS angle.  I wonder if he is trying to take up Dennis Kneale's crusade for CNBS against successful financial blogs, especially with the ratings drop.  See, I can be trusted.  Kernan made fun of him the time he took Becky's picture and put it on his website, Kernan called it a porn website.

Zerohedge blew all financial sites away with the intensity and knowledge of the inner workings of wall street/fed/government.  No one outside of gold sites would dare expose that crowd.   

 

Tue, 09/28/2010 - 00:16 | Link to Comment LowProfile
LowProfile's picture

If Barry = Greenspan, then Durden = Jackson (Andrew)

Mon, 09/27/2010 - 21:54 | Link to Comment gwar5
gwar5's picture

Got a kick out of that one. Looks like Zero Hedge is really #1. Congrats!

Mainstream media is an oxymoron. They're fringe advocators who see it as their civic duty to spare the public information that might actually help them preserve their wealth. Goldman Sachs is the third largest institutional holder of CBS parent Viacom. Other CBs own much of Disney/ABC, and we all know who owns CNBC. They put the herd in herd behavior.

People go to the internet to see the growing dissonance between MSM rhetoric and reality, and it's devastating to the MSM. Alan Greenspan agreed with us when he said there is no place to go but gold. We don't buy PM because we're insects, but because the banksters are.

Thanks ZH

Tue, 09/28/2010 - 00:35 | Link to Comment StychoKiller
StychoKiller's picture

MSM = Pop Music, but "The Archies" != Led Zeppelin

I have yet to see anything beyond "Infotainment" in the MSM (every since Cronkite hung up his typewriter!)

Mon, 09/27/2010 - 21:54 | Link to Comment obobcatu
obobcatu's picture

I enjoy reading Barry's blog and find some pretty cool stuff there on occasion, but can you say owned?!?

Nice post zh! If Barry doesn't like the many posts from seemingly random authors, then skip it and move to the next post. It's what I do.

Mon, 09/27/2010 - 21:56 | Link to Comment Doug
Doug's picture

I still read ZH — but much less than I used to, now that the inmates have taken over the asylum.

Have to agree.  ZH should change its name to Goldbugz'R'Us.  Conform or be cast out.  I guess I'm out. 

Mon, 09/27/2010 - 22:25 | Link to Comment Double down
Double down's picture

I humbly submit you misunderstand what is happening.  It is not a question of choice that pushes that tangent to the fore, it is destiny.  It is the tragedy of Gold that makes it attractive and an ever recurring reference.

With respect I believe that if gold went down in price for the right reason people in this community would applaud it.

Gold to the people here does not represent the metal, but the ethical and political virtues it enforces on those who rule nation states.  

Mon, 09/27/2010 - 23:02 | Link to Comment traderjoe
traderjoe's picture

Nicely put.

Tue, 09/28/2010 - 02:55 | Link to Comment Bananamerican
Bananamerican's picture

a-ffirmative

Tue, 09/28/2010 - 00:38 | Link to Comment StychoKiller
StychoKiller's picture

Ethics?  Political Virtues? (An oxymoron, by the way)

These are strange words these days, especially in the USA!  They're going the way of words such as "Responsibility" , and "Discipline!"

Mon, 09/27/2010 - 22:35 | Link to Comment Nihilarian
Nihilarian's picture

FYI, Fiat is not just a popular European auto maker.

Mon, 09/27/2010 - 23:56 | Link to Comment Arkadaba
Arkadaba's picture

+1

Mon, 09/27/2010 - 23:50 | Link to Comment doolittlegeorge
doolittlegeorge's picture

???? you guess your out?  i say "gold drop 50 bucks tomorrow."  happy?

Mon, 09/27/2010 - 21:56 | Link to Comment imapopulistnow
imapopulistnow's picture

ENVY

Mon, 09/27/2010 - 21:59 | Link to Comment Atomizer
Atomizer's picture

Barry is a sleeper cell to destroy the US economy.

Barry Ritholtz on Power Lunch 10/17/2006

http://www.youtube.com/watch?v=lPKHB4SCojg

Don't take my word, watch his closet manchild meltdown to be exposed on national state run media TV. LOL

Mon, 09/27/2010 - 21:59 | Link to Comment Double down
Double down's picture

Why did you bother answering that challenge, yeah I know its fight club, but what...  You walk away from battles that are dumb especially those where when you win your opponent also wins.

 

Mon, 09/27/2010 - 22:03 | Link to Comment Tyler Durden
Tyler Durden's picture

The whole point of this post was to get an answer to our own rhetorical question, which, as missed by all so far, was "How the hell are Tech Crunch and Mashable considered business blogs?" We still have to get a satisfactory answer.

Mon, 09/27/2010 - 22:25 | Link to Comment Double down
Double down's picture

I misunderstood

Mon, 09/27/2010 - 22:32 | Link to Comment FischerBlack
FischerBlack's picture

Mashable is to business blog as Time magazine is to business periodical.

Mon, 09/27/2010 - 22:38 | Link to Comment Lux Fiat
Lux Fiat's picture

Thanks for posing that question, which coupled with my curiousity, just led me to waste 5 minutes of my life that I won't get back - visiting TechCrunch and Mashable for the first (and highly likely, last) time.  After a quick peek, I'm pretty darn sure you won't be getting a satisfactory answer.

Mon, 09/27/2010 - 22:45 | Link to Comment Nihilarian
Nihilarian's picture

Since we're on the subject of pointless websites and if you have another 5 minutes to kill, can you please research who the hell visits AOL.com? Thanks.

Mon, 09/27/2010 - 23:01 | Link to Comment Lux Fiat
Lux Fiat's picture

Steve Case? 

Mon, 09/27/2010 - 23:28 | Link to Comment hedgeless_horseman
hedgeless_horseman's picture

AOL?  I think I have some of their free coasters.  Are they not collectibles?  Why do they all have holes?

Mon, 09/27/2010 - 23:43 | Link to Comment MayIMommaDogFac...
MayIMommaDogFace2theBananaPatch's picture

What is this AOL you speak of?

Tue, 09/28/2010 - 08:06 | Link to Comment Hephasteus
Hephasteus's picture

They created the funniest break up videos ever.

http://www.youtube.com/watch?v=1_knvtpENoQ

Mon, 09/27/2010 - 22:43 | Link to Comment mark mchugh
mark mchugh's picture

Even I can't come up with a C-grade conspiracy theory for that.

 

Mon, 09/27/2010 - 22:48 | Link to Comment Nihilarian
Nihilarian's picture

I'd venture to say that being at the top of the list acts as a feedback loop for more traffic. Which makes me wonder if there's some sort of mutual ownership or revenue sharing going on. You think the top Google responses are the best finds or is there also a calculation about potential revenue factored into it? I wonder...

Mon, 09/27/2010 - 23:15 | Link to Comment DoctoRx
DoctoRx's picture

Rhetorical questions are not supposed to be answered except by the clueless.

Mon, 09/27/2010 - 23:35 | Link to Comment Arkadaba
Arkadaba's picture

I didn't miss the point (love both Tech Crunch and Mashable and having been reading them both way longer than any financial post - love ReadWriteWeb as well). But as Tyler said ... this was a rhetorical question ... is this another captcha?

 

Mon, 09/27/2010 - 23:43 | Link to Comment Arkadaba
Arkadaba's picture

delete - triple post

 

Mon, 09/27/2010 - 23:43 | Link to Comment Arkadaba
Arkadaba's picture

delete - triple post

 

Mon, 09/27/2010 - 23:52 | Link to Comment doolittlegeorge
doolittlegeorge's picture

who?

Tue, 09/28/2010 - 00:04 | Link to Comment stollcri
stollcri's picture

Not everyone knows that the tech bubble burst. People are still looking for that next big tech thing which they won't really understand but which will certainly be more valuable than QE2 (and they can steal the idea for, a la JooJoo, the next Scrabble or something).

Tue, 09/28/2010 - 00:41 | Link to Comment StychoKiller
StychoKiller's picture

Reminds me of some of the wacko money-making ideas posted for ridicule on www.worsethanfailure.com

Mon, 09/27/2010 - 22:00 | Link to Comment ShankyS
ShankyS's picture

LOL as a try-to-be-worthy blogger I regurgitate ZH twice daily. Funny thing, when I first started blogging I used to refer to Barry's posts at least once a week or at least cruise his site daily looking for relevant information to share. I gave his site up months ago cause i consistently found nothing there worth sharing or reading. Nothing about his site made me better or smarter for visiting there.

Note to Barry, you have become irrelevant as a blogger providing paltry analysis at best in regurgitating what you deem easy pickings on the financial front. If you would actually put something on the line or try something that would be cutting edge or dare I say "new" instead of throwing one liners at over covered issues then your blog may be interesting once again. 

Blogging is not about opining glorified overstuffed opinions in a self absorbed manner. Blogging is about sharing, educating and giving back. ZH constantly gives and goes the extra mile day and night. ZH has taken me and literally launched my knowledge in the past year and a half to a point no grad school could have taken it. ZH has a bigger set of balls and more spirit than an elephant on meth. They are the bull in the china shop and by God they are making a fucking difference day in and day out. Maybe it is a youth thing, you know the generational gap thing where you don't get it Barry. Passion is what it is all about, not arrogance.

Note: I have been very fortunate to have been on the ZH blogroll since they were on blogger and that has nothing to do with this post. All my readers know I call 'em as I see 'em and this one is plain as day. If I even dumped you, lord knows why anyone else is still there.

Gold bless you ZH and keep up the great work. This country is in dire straights and it is people like you that try to make a difference that are the true patriots, not those just blowing self absorbed smoke.

Tue, 09/28/2010 - 01:13 | Link to Comment vs18
vs18's picture

Complete and total PLUS ONE  bro... couldn't have said it better myself...

Tue, 09/28/2010 - 06:28 | Link to Comment nmewn
nmewn's picture

"ZH has a bigger set of balls and more spirit than an elephant on meth. They are the bull in the china shop and by God they are making a fucking difference day in and day out. Maybe it is a youth thing, you know the generational gap thing where you don't get it Barry. Passion is what it is all about, not arrogance."

++++++++++ infinity.

The balls to tell the individual you don't have to play by rules not made for all and the passion to keep hammering at it. The wisdom of knowing that socializing loss among the many while keeping profit among the few can never be called freedom.

Zero hedge baby.

Mon, 09/27/2010 - 22:01 | Link to Comment Lothar the Rott...
Lothar the Rottweiler's picture

Oh, your lovely fingerprints are all over this diatribe, foil of the site.

Glad you're around and helping editorial out! :-P

Tue, 09/28/2010 - 00:06 | Link to Comment Bolweevil
Bolweevil's picture

We are relegated to muted speculation devoid of any semblance of therapeutic acoustics.  Oh, the suffering... 

Tue, 09/28/2010 - 09:30 | Link to Comment MsCreant
MsCreant's picture

Marla, help this howling dog out, say hi to him, give him a scratch behind the ears.

Hey Lothar, glad to see you out there. Still chillin' (literally) in TN?

Mon, 09/27/2010 - 22:05 | Link to Comment Pillage
Pillage's picture

"Its not that the good stuff isn’t there — it is, if you hunt for it. Its just that it is now surrounded by so much other stuff it becomes challenging to locate."

 

He's talking about Robottrader's troll posts cluttering up and distracting from anything useful. I concur and read this blog less on the same reasoning.

Mon, 09/27/2010 - 22:10 | Link to Comment gigeze787
gigeze787's picture

I read BP 3 times a week, often good stuff. I read ZH 3 times a weekday -- it is invaluable counter to MSM business propaganda.

Is there a coincidence btwn B.R. criticizing ZH,  and, (1) his more frequent recent appearances on CNBC, and, (2) CNBC starting its own pseudo-edgy, ZH-clone blog (NetNet)?

Only if one believes B.R. wants to get invited to the A-list parties at the Hamptons next summer by being a pimp for those who are the NYFRB's proxies in the Wall Street war against the middle class.

 

Mon, 09/27/2010 - 23:54 | Link to Comment doolittlegeorge
doolittlegeorge's picture

assfire!  assfire!  assfire!  assfire!

Mon, 09/27/2010 - 22:09 | Link to Comment mbasham
mbasham's picture

it's pretty clear on here who is rubbing their own rooster and who is trying to present a worthwhile POV... barry seems to be in the former, so stand back or you'll get spooge on yourself...

Mon, 09/27/2010 - 22:11 | Link to Comment johngaltfla
johngaltfla's picture

My C level commentary: When you become less relevant, criticize Tyler and ZH. Last I checked I have yet to hear Santelli even mention old Barry in the last year or so. If the commentary is so bad, then why do so many people on the various Bubblevisions and Bloomberg Radio seem to mention this place at least once a week if not more?

Mon, 09/27/2010 - 22:58 | Link to Comment BrosMacManus
BrosMacManus's picture

Barry needs to keep working on the Fast Money angle. Graduate to be one of the "hosts" with a cool nom de guerre (The Bare Raider?) and then make a run at ZH and TD. Any pal of Herbie Greenberg needs a good thrashing....

Mon, 09/27/2010 - 23:23 | Link to Comment chindit13
chindit13's picture

He looks a little chubby to me, so I think "The Dough Boy" would be a nice double entendre.

(By the way, fifty cents says on BR's next FM appearance, Adami uses this name.)

Tue, 09/28/2010 - 09:34 | Link to Comment MsCreant
MsCreant's picture

That's ugly funny! Maybe triple. Getting soft, getting soft.

Mon, 09/27/2010 - 22:14 | Link to Comment spekulatn
spekulatn's picture

Barry who? 

 

Mon, 09/27/2010 - 22:14 | Link to Comment hotkarlandthecl...
hotkarlandtheclevelandsteamers's picture

Didn't Barry become irrelevant after his 6800 year end call a few years ago was only off by about 6000 points.  After the market takes another 20% dive Barry will be on TV touting how fusion IQ indicators got him out of the market and will continue to defend how the Community Reinvestment Act was a great thing.

Mon, 09/27/2010 - 22:15 | Link to Comment Lux Fiat
Lux Fiat's picture

Congrats ZH.  When the more mainstream elements start trying to indirectly (for now) target you, you know you must be doing a very good job deconstructing the spin and puffery that passes as allegedly credible news from various other entities and sites.  As a non-Wall Street type, it's been quite the education, and much appreciated one at that.

Tue, 09/28/2010 - 00:45 | Link to Comment StychoKiller
StychoKiller's picture

First they ignore you, then they fight you, then you win. -- Gandhi

Tue, 09/28/2010 - 06:55 | Link to Comment nmewn
nmewn's picture

Or the five stages of grief.

Denial...ignore them...maybe they'll go away.

Anger...why are they still here?...something must be done about them.

Bargaining...what happened to my readership?...look, yes you have some valid points, but your still just a whelp...we are between here and the next.

Depression...I suck...I'll have to make more media appearances to stroke my ego.

Acceptance...I was wrong. I attacked you when I should have supported you. The last flash crash never bounced back...it's been a year of flat line so my long positions are now lost, my hedges against them already booked. Brother can you spare a dime?

Mon, 09/27/2010 - 22:16 | Link to Comment taraxias
taraxias's picture

Why are we wasting time on this?


Barry Ritholtz is a douchebag

There, now we can move on.

Mon, 09/27/2010 - 22:21 | Link to Comment NOTW777
NOTW777's picture

"standard gold bug rhetoric"

enough already with the gold bug slur.

what do you call those who like equities?

Mon, 09/27/2010 - 22:24 | Link to Comment mark mchugh
mark mchugh's picture

paper bugs

Mon, 09/27/2010 - 22:37 | Link to Comment NOTW777
NOTW777's picture

+100

Mon, 09/27/2010 - 22:57 | Link to Comment hedgeless_horseman
hedgeless_horseman's picture

Commissioned brokers?

Tue, 09/28/2010 - 08:27 | Link to Comment au_bayitch
au_bayitch's picture

LOL

Tue, 09/28/2010 - 09:35 | Link to Comment MsCreant
MsCreant's picture

Locusts.

Do NOT follow this link or you will be banned from the site!