Breaking News: Herb Greenberg Resigns CNBC

July 14, 2008 12:00pm by Barry Ritholtz

Here’s some sad news that has yet to hit the wires: Herb Greenberg has resigned as a full-time contributor to CNBC. (No, he’s not going to Fox Business).

Here’s what Herb wrote to CNBC:

Just an FYI: I’ve pulled myself out of the contributor
rotation to focus exclusively on my business, which has become
more-than-a-fulltime job. It wasn’t an easy decision to walk away. I’ll still be
available from time to time as a non-contributor guest, as time permits, and I
remain committed to CNBC.

Herb will be missed on CNBC — he is a skeptical voice of reason who oftentimes doubts the nonsense spin we hear all too frequently from corporate executives. And, he’s been proven right far too many times to ignore. He will be missed.

Herb’s new firm is called Greenberg Meritz, and the focus will be "Bridging Financial Journalism and Forensic Analysis."

We wish him luck at his new venture, and if he ever wants to get some info out to a wider distribution, our doors are always open . . .

Click for video

This content, which contains security-related opinions and/or information, is provided for informational purposes only and should not be relied upon in any manner as professional advice, or an endorsement of any practices, products or services. There can be no guarantees or assurances that the views expressed here will be applicable for any particular facts or circumstances, and should not be relied upon in any manner. You should consult your own advisers as to legal, business, tax, and other related matters concerning any investment. The commentary in this “post” (including any related blog, podcasts, videos, and social media) reflects the personal opinions, viewpoints, and analyses of the Ritholtz Wealth Management employees providing such comments, and should not be regarded the views of Ritholtz Wealth Management LLC. or its respective affiliates or as a description of advisory services provided by Ritholtz Wealth Management or performance returns of any Ritholtz Wealth Management Investments client. References to any securities or digital assets, or performance data, are for illustrative purposes only and do not constitute an investment recommendation or offer to provide investment advisory services. Charts and graphs provided within are for informational purposes solely and should not be relied upon when making any investment decision. Past performance is not indicative of future results. The content speaks only as of the date indicated. Any projections, estimates, forecasts, targets, prospects, and/or opinions expressed in these materials are subject to change without notice and may differ or be contrary to opinions expressed by others. The Compound Media, Inc., an affiliate of Ritholtz Wealth Management, receives payment from various entities for advertisements in affiliated podcasts, blogs and emails. Inclusion of such advertisements does not constitute or imply endorsement, sponsorship or recommendation thereof, or any affiliation therewith, by the Content Creator or by Ritholtz Wealth Management or any of its employees. Investments in securities involve the risk of loss. For additional advertisement disclaimers see here: https://www.ritholtzwealth.com/advertising-disclaimers Please see disclosures here: https://ritholtzwealth.com/blog-disclosures/

twitter

facebook

What's been said:

Discussions found on the web:

Herb Greenberg commented on Jul 14

Hi Barry,

Thanks for the kind words. I hate to see the words “resign” when I really just went to them and said that I have a conflict of time and interest. The “time” is obvious: I have too little and will have less going forward, especially after our website goes live in a week or two (though it will be accessible by subscribers, only.)

The “interest” is more problematic since I felt myself thinking more about whether I would offend prospective or current subscribers rather than saying, perhaps, what I really felt.

I’d rather pull myself off the air than pull punches.

Onward…

Herb
theinvestingspeculator commented on Jul 14

Barry,

Great Blog. I was wondering why your Feedburner fluctuates so much. a couple of weeks ago I saw 20,000+ now it is 17,000+. Is that thing broke? I know 3K didn’t cancell their feed.
Chief Tomahawk commented on Jul 14

Yet another moment of silence has been observed in honor of Herb. First it was the MarketWatch end… now the CNBC end… someone’s needed to reign in Dennis Kneale’s 401k crapola.

That Greenberg-Meritz website has been under construction forever…
Ben commented on Jul 14

Herb should consider to start his own blog! Missing you already!
pablo commented on Jul 14

well,at least this wont affect the balance on CNBC!!
dblwyo commented on Jul 14

A sad but unsurprising day. Herb’s building a business and needs to focus on that…as you well know. In fact it surprises me that Insana continues as he does though his role at his firm may be better suited.

In any case Herb’s careful skepticism will be missed – particularly since the Great Kneale continues on as shrilly as ever….

…hmmmm…now there’s an interesting speculation.
BG commented on Jul 14

I would love to see all heads of reason resign from CNBC and drop the semblance of any kind of balanced reporting and be done with it.

In essence, a boycott…
scorpio commented on Jul 14

Greenberg out and Kneale in w piece just now on prosecuting short-sellers. what a world
Joshua commented on Jul 14

If I remember correctly, Herb was the only guy left online at TheStreet.com on 9/11. He pretty much kept the whole thing running and he did so with an enormous amount of grace and coolness. I sent him an e-mail that day, and, despite everything that was going on, he sent a really charming and heartfelt reply.

He’s one of those rare individuals: a total mensch. I wish him much luck in his new venture.
rsm commented on Jul 14

Good luck Herb, your opinion will be missed. And if they muzzle Santelli, then there will be absolutely no reason to keep the sound on CNBC.
Ben commented on Jul 14

The latest gimmick from CNBC: Not beating the bear but blameing the rumors!!!
patrick neid commented on Jul 14

Herb,

This is the second time you are pulling this.

The first was leaving the Chronicle after ten years. The business section has never recovered.

In the future please give us several years warning.

Thank you.
Groty commented on Jul 14

Herb will be missed.

If Herb’s got to go, any chance he’d take Don Luskin with him?
ECONOMISTA NON GRATA commented on Jul 14

OT: Funny

Headline:

“Recession Plagued Nation Demands New Bubble To Invest In”

http://www.theonion.com/content/news/recession_plagued_nation_demands

Econolicious
ww2player commented on Jul 14

UNPUBLISHED BY BLOG-OWNER

BR: I find the various conspiracy theorists that surround Overstock to be less than credible.

Those who want to shout down an investigative journalist and abuse the legal process to protect corruption in the capital markets have their own forum, but this ain’t it. Sorry, but I won’t have you hijacking my blog.

To be blunt, I have not been impressed with Mr. Byrne’s arguments, nor with the performance of his those who have spoken out on behalf of Overstock.

And don’t get me started with the defacement of Wikipedia . . .
Barry commented on Jul 14

Yes, thats me right above.

Yes, I unpublished the attempt to hijack the thread for someone else’s agenda.

No, this is not censorship; its my house, and I publish what I want — not what random strangers want.

If you want to discuss how like totally awesome Overstock/Patrick Byrne is, well then GYOFB!
Stanley King commented on Jul 14

Only wish I had followed ‘Herb’s advice early in the game with respect to NFI.
j commented on Jul 14

You don’t believe in the Sith Lord ?!?!?!?

Rocker Partners had that one right when they shorted the $%#%& out of it …
ben commented on Jul 14

BR,

I actually read that post above and went to the link before you took it off. It was a total waste of time IMO, some valid stuff maybe but it didn’t prove a thing. It made it sound as though any company could be taken out by this secret mafia whatever that cramer and herb just happen to be a part of.

No way. Funny how all these companies all had major problems when all this was going on.
BilloFoxnews commented on Jul 14

Equity markets have recently lost over $2 trillion in the U.S. and even more globally — many times the likely amount of mortgage and corporate debt losses in the foreseeable future. This is in part a correction from the sharp global equity run-up through mid-July. Current prices still signal growth ahead

Will the dow Retest 5,000?

large caps into small and mid, it has longer-term bullish implications and doesn’t bode very well for the masses who seem to be looking for 1300 on the S&P.

I noticed even the bullish Carl Fu
Eric commented on Jul 14

You analysis will be missed Herb on CNBC, hopefully you will still be on Kudlow. I can no longer handle the three stooges on that show..Luskin, Bowyer, and Kneale.
Arthur commented on Jul 15

“Bridging Financial Journalism and Forensic Analysis.”

Hope I’m not being too dense here but isn’t this a good description of what the BP does?

I keep waking up thinking I’m gonna have to start paying to read this blog.
A

Posted Under

Links
Video

Fannie & Freddie See Red

Headline of the Day: Recession-Plagued Nation Demands New Bubble To Invest In

What's been said:

Posted Under

Sign Up for My Newsletter