Alot of fingers put up in the air (with very little fundamental analysis) as the business media consistently endorsed buying Netflix over the last week, month and year:
BREAKING: Netflix, $NFLX, sinks -11.3% after the company said it expects third-quarter revenue and profit to be below expectations. pic.twitter.com/VioHza2x73
You will not hear contrition or ownership in the days ahead.
While some subs have objected to my criticism of Fin TV, it is for these reasons (and others) that I have consistently suggested doing your own homework and to not rely on those that are miles long but only inches deep.
Coming up on Monday, another segment of “The CNBC Panelist Said What?”
Doug Kass is a world-renowned hedge fund manager with decades of experience and success navigating through some of the most turbulent periods in market history. He is known for his time-tested analytical skills and ability to look past the current noise and herd mentality.
On TheStreet Pro, Kass provides frequent market commentary and investing ideas for active investors throughout each trading day in Doug’s Daily Diary. He also serves as president of Seabreeze Partners Management Inc. Previously, he served as a senior manager at Omega Advisors, a $6 billion investment partnership. He co-authored a book with Ralph Nader and the Center for the Study of Responsive Law called “Citibank: The Ralph Nader Report” and can be found as a guest host on CNBC's "Squawk Box."
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