MOJO and the Markets
On November 5th, MOJO, the hi-def TV network geared towards affluent males, announced the return of Wall Street Warriors in early January 2008–sadly I will not be returning as they’ll feature all new characters :(
Perhaps more importantly, they threw in a little surprise—two more TV shows dedicated to the finance/business world! Now
, every Thursday night in 2008, affluent men all over the world will be glued to their sets to watchWall Street Warriors (sadly, with all new characters), Bobby G.: Adventure Capitalist, a show about Bobby Genovese, a private equity manager who likes to buy up distressed companies and turn them around in addition to showing off his extravagant lifestyle and Start-Up Junkies, a show about serial entrepreneurs.
This is big news. As you can see the from the charts below, the US stock markets reacted swiftly; at first, there was joy and excitement, but within days, the markets were in freefall as people began thinking about the consequences of these developments.
“Private equity is private for a reason—once the world sees what really goes on behind the scenes, we’re talking major meltdown,” said a private equity fund manager who, due to industry regulations, wished to remain anonymous.
Another fund manager, who also wished to remain anonymous, said, “With three finance shows all airing on Thursday nights, I’m expecting the vast majority of affluent males to call in sick every Friday—you might as well reduce every financial company’s earnings estimates by 20% because it just became a 4-day work week.”
Very scary stuff, the question remains—is this kind of entertainment really worth the economic price of admission? Somehow I think it is.
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