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
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Is Google Another Enron, Facebook or Knight Capital?

NEW YORK (TheStreet) -- CNBC did a solid job covering the Google (GOOG) mess. In case you missed the news, Google Crushed as Earnings Miss Badly

I single out CNBC because it often gets ripped for blowing stories out of proportion.

Don't shoot the messenger.

News breaks, CNBC covers it.

It's not the network's fault that some of its guests spew inane opinions. That's where the trouble starts, with people's opinions.

Some of the stuff I heard on CNBC yesterday made me laugh out loud.

Two opinions dominated.

First, the relatively sane one, offered by Jim Cramer as well as several guests. This is another thing that spooks individual investors; however the real story here is the earnings report.

Second, the completely insane one, offered by people whose names I cannot (or choose not to) recall.

Wait. Former SEC Chairman Harvey Pitt comes to mind as one. He's the guy who was at the helm at the commission when Enron blew up. But, I digress.

The insane opinion: The early release of Google's earnings was a debacle, a disaster, a damn shame that requires a swift response so people can trust markets again, so we can feel safe in our homes at night knowing that the tens and hundreds of shares of GOOG all us small investors own are under safe keeping, guarded by the watchful eyes of the brokerages and transfer agents who keep track of such matters.

Whenever something happens, this sense kicks in that it's everybody's job but our own to save ourselves -- the small investor -- from the likes of Enron, Facebook (FB) and Knight Capital Group (KCG).

I just can't get with that.

I fall more on the side of don't be bitter, don't blame external forces and learn from both your mistakes and history.

When Enron fell apart, we learned a lesson. Don't keep your 401(k) in one stock, even if it's the company you work for. Of course, this was a tough lesson for many Enron employees. While I do sympathize, that's life. Live and learn, right?

1 of 3

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

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
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, 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
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,122.01 +15.31 0.09%
S&P 500 2,000.12 +0.10 0.00%
NASDAQ 4,569.6210 -1.0160 -0.02%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs