If you want to follow the trends don?t start with the financial news, instead you start with research into human behavior. Real wealth producers know that once it hits the headlines the deal is dead.
One investor explained when he saw two weeks of GOOD news about a company he would take profits, and if two weeks of BAD news, he would double down. Even this insight won?t make you money because you have to know how to buy to maximize profits.
The point of all this is that financial news doesn?t matter because it is like driving a car looking only in the rear view mirror. What the financial news does well is sell advertising. All the fear and hype is really about a channel to offer services.
If the news produces enough anxiety you?ll be more likely to hire a planner or work with a brokerage. If oil prices drop an investor doesn?t get that from the news, they figure that out with research.
Does it really matter Quartz asks “Why Sweden has the world?s safest roads“, or the Reuters headline “New year may mean new view on energy stocks” ? it only matters if you want to attract the masses. Interesting enough, the masses are not wealthy.
Most financial news covers stock trends and economic issues, plus other common distractions. Nobody bothered to tell them that stock is not the only way to make money. Here?s a transition to wealth building part.
Because many CONSUMERS believe, even hang on every word of the financial media produce news channels, it?s been a long favorite of PRODUCERS to position. This includes cultivating social proof, influencing opinion, and even advertising.
If financial news made you rich, then the average citizen would have more money because there is a lot of financial news going on. And the next time you wander onto one of those sites, be sure to take notice of all the distractions then get back to reality.
A business analyst and publisher. Had $250,000 in his retirement by age 25 while losing it all in the dot.com bubble. Invested more than $575,000 in the expense of experience that showed him what works for increasing net worth. Discovered value of actually listening to mentors.