This is Trend Following Radio, where great thinking comes alive.

Nobel Prize winners, legendary traders, bestselling authors, and the pros that know what drive us irrational human beings.

I am your host, Michael Covel.

Not filtered, raw, honest.

That's my passion.

I definitely have an itch that I want to scratch today.

And as I sometimes like to do, I'm pulling a lot of different sources today to paint a picture,

to paint a story.

First, let me jump right in.

I want to read a piece about CNBC. And of course, I have a history of picking on

CNBC. This is a fantastic blog post. And the reality is CNBC says more about all of us

than it does about CNBC.

Let me read this piece, and you will see my point.

This piece is written by Doug Illittowitz, called C&BC Demystified.

CNBC presents a paradox in the hedge fund community.

It plays constantly, but hardly anybody watches it.

The channel mostly functions as white noise emanating from wall-mounted monitors on trading floors

and in financial firms. Given its ubiquity, one might think it was highly regarded. But traders and

portfolio managers treat CNBC with scorn or indifference.

Few rely on CNBC for market information, preferring Bloomberg terminals or proprietary data sources.

The situation resembles George Orwell's 1984, where the protagonist, Winston Smith, tuned out the massive telescreen on his apartment wall that issued endless streams

of positive news. As an experiment, I pulled several friends who have a combined 100 years

...