Dan Solin's Newsletter, March 23, 2017
It would be great if the financial media conveyed useful information to investors. If it did, you'd see headlines like these:
- Our advertisers pay us to provide "news" that enriches their bottom line at the expense of yours.
- Our "experts" are no more accurate in their predictions than the flip of a coin.
- It would be more accurate to call "predictions" by our experts "random guesses."
- We don't have a clue where the market is headed and neither does anyone else.
- When you trade, it's likely an institution is on the other side. We don't like your chances.
- It makes no sense to buy individual stocks.
- Even if it did, we have no way to identify stocks likely to outperform in the future.
- Overweighting your portfolio in gold is dumb, no matter how frightened you are.
- If bouncing in and out of the market made sense, professional managers would not have such a terrible track record.
- You'd be better off not watching or reading us.