Time to Buy Subprime Lenders - You Gotta be Kidding!

One of the problems with Financial TV is that they have 24 hours to fill with programming. How can you fill that much time without including some Bozos? Every morning I wake up around 5 am or so and turn on Bloomberg. I lay in bed and catch up on what has happened in the stock markets around the world until around 6:30am. On yesterday, they had a Bozo on who said that it may be time to buy certain subprime lenders. All I could do is shake my head and turn off the TV.

Apparently there are two kinds of subprime lenders. Ones who hold on to the loans and the other that sells their loans. I don’t remember which one he said that it was time to buy, but it doesn’t matter. Obviously this guy was an analyst for the subprime lenders and his job is to push those stocks. Whenever you watch these shows you must determine what is the person trying to sell and then determine if you want to believe anything that comes out of their mouth.