Spiga

The market, economics and business channels

Quick post - whats up with these CNBC and NDTV business channels - cant they make up their mind? Two instances:

Instance 1:

December 2007 stand - "Markets (sensex) are estimated to be at 25,000 levels by March '08 and 30,000 levels by Dec '08"

February 2008 stand - "At 15,000 the markets dont look like they have found the bottom as yet"

Now I understand that they dont drive market forces etc but if they are authoritatively making predictions they ought to have been making them with the knowledge that they dont drive the markets so there must be other data somewhere that they refer to.


Instance 2:

Even if I am not an economics student nor a finance wizard even I can catch this shift even though it pertains to arcane currency markets.

Sept - Dec 2007 comments - The rupee is growing stronger, that's really bad for India inc." etc. So it is established by them that lesser rupees to a dollar is a bad thing. (although with my minimal understanding I know its a bad thing only for exporters who have quoted in Dollars, but anyway)

Todays comment ( background: in the last week or so the rupee has grown weaker i.e. there are now more rupees to a dollar, however yesterday it grew stronger by 1 paise) - so their comment - "Not enough but thats some relief there with the rupee growing stronger"

!!!!

Make up your mind is it a bad thing for the rupee to grow stronger or is it a relief ??? I am sure that cannot be sentiment driven!

1 comments:

  Nandan

May 12, 2008 at 5:53 AM

Absolutely. What irks me is the gall of these people, making very confident predictions one day and contravening them the very next day without a qualm. The same malaise affects TV channels, too.