Can This Be True?

Before I get into this post, I want to ask you to think a little deeper and not take this is just another piece that picks on bubble vision.

Earlier in the week Bob Pisani was talking very forcefully about how great the market is right here. People accuse him of cheerleading and ok I get that but this felt different to me and it seemed strange, of course this post would have more credibility had I mentioned it earlier.

I did not share his view in fact I think it would be reasonable to label my comments as cautious. I had a thought about Pisani's commentary, I wonder if he really does not understand the thing he has been reporting on for so many years. This is not about saying he or the network has an agenda but if really does not understand capital markets. I'm not saying wrong sometimes, I am wondering if he has any kind of understanding at all (not sarcastic humor).

Here is an analogy that might hold up. The extent of my knowledge about how the court system works comes from TV shows. However realistic or unrealistic shows like LA Law or Law and Order might have been, that is the sum total. So how qualified am I to do commentary for Court TV? I have no real understanding.

This is where we might be with a lot of the on air personalities. Perhaps one way to judge these folks is by what questions they come up with when an interview goes off script. If Bob is telling the truth about how much he talks to traders then it makes sense to wonder if anything half-way intelligent you have ever heard him say came from one of those traders he is always talking to.

CNBC was working Alexis Glick into Bob's role before she left to do the today show. Rick Santelli, as a former trader, seems to be working out. I have to think they could find a half dozen reasonably telegenic people to come work for the network which would make the information more valuable.