This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Media Again Fail to Meet Expectations

It is the Business Press Maven's ever-shattered dream to wake up one morning and find no loathsome effort by the business media to write about. I dream of a world in which investors are forever informed by the business media, instead of frequently misled.

Well, as they say, if you don't have dreams, you got nightmares.

Today's horror: I am profoundly troubled trying to even figure out where to start, and I'm going to have to hop from topic to topic more than unusual. Hold on to your wig.

When reading press releases, I always play a little game with myself. When I run across the worst piece of public-relations spin -- the most self-justifying piece of jargon-heavy nonsense -- I sit back and wait to see the exact same words seen in the press release leach into articles on the subject. Bad stenographers, bad!

Anyhow, E*Trade (ETFC), in a whole lot of mortgage trouble, announced that it was cutting future earning numbers and, more centrally to its future, exiting or restructuring all its businesses (such as mortgages) that do not have to do directly with its retail investor customer.

This is, of course, potentially dangerous news.

The retail consumer business in investing is highly cyclical and dependent upon public comfort with the financial markets. In other words, financial results are in the hold of economic circumstances and public whim. Risky businesses, both. It's the reason that well before and after The Business Press Maven was a retail stockbroker, firms have done everything in their power to broaden their appeal. With the mortgage trouble, though, E*Trade's hand is forced. It is, long term, narrowing its appeal.
1 of 4

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $118.30 0.00%
MSFT $54.35 0.00%
FB $104.60 0.35%
GOOG $742.60 0.00%
TSLA $231.10 0.36%


Chart of I:DJI
DOW 17,719.92 -78.57 -0.44%
S&P 500 2,080.41 -9.70 -0.46%
NASDAQ 5,108.6660 -18.8590 -0.37%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs