Dan Solin's video: My Beef With CNBC

By Dan Solin DanielSolin.com CNBC could be a source of reliable information. It could help investors achieve higher expected returns. Instead, it's an infomercial for its advertisers—the securities industry. The securities industry benefits when you believe in its ability to select mispriced stocks, time the market or pick actively managed mutual funds likely to outperform. CNBC perpetuates these myths by featuring an endless parade of “experts” who claim the ability to do these things. It bolsters their views with the musings of its in-house "expert," Jim Cramer. Cramer recommends stocks, comments on the direction of the market and interviews active mutual fund managers. He doesn't disclose the fact that he doesn't have the expertise to reliably and consistently make accurate recommendations or predictions. No one does. Here’s what CNBC doesn’t tell you. You’d be better off turning it off, buying and holding a globally diversified portfolio of low management fee index funds, and ignoring all short-term news. CNBC should be required to display this cautionary warning to viewers: Watching our programming can be harmful to your financial well-being. That’s my beef with CNBC.