I have recently been listening to Bloomberg Radio for a change. Mostly coverage of financial markets with a bit of politics mixed in — but only to the extent it affects the economy. Lots if interviews with analysts and Bloomberg Intelligence staff.
After a few weeks of listening, I noticed something. There is very much a herd mentality. The market is up and will stay high for the following reasons. The reasons contain the appropriate number of buzzwords and Wall Street terminology that initially I was impressed by all the insights. But cut through the buzz words and “hip” words and the expirations are just rationalizations. More opinion than fact. And these folks make a ton of money to sound like the know more than they do.
I was going to say that I am no smarter an investor for listening to Bloomberg, but then again, perhaps I am. I am reminded that if there is news that will affect a stock price, if you’re hearing on Bloomberg it is already included in the stock price. I am also reminded that the best I can likely do is buy a quality stock’/mutual fund and ride it for a while. I’m certainly never going to time the market correctly.
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