Best financial sites....

[OldShooter]

+7

I am teaching an intro investing class and I tell students that I could sit down this afternoon and write three very credible stories about why tomorrow's market did what it did. "Investors were heartened by the BOJ's moves on interest rates and came strongly into the markets in a buying mood. ..." "Investor's concerned about Trump's pick for the Fed lightened their positions today. ... " "Investors, tired from a busy week sat on their hands today. ... " Tomorrow night, then, I just pick the article to match the day's result and send it to my editor. That's the kind of thing you read on most "financial" sites.

My best financial news for the chess game of patient investing is by far The Economist magazine. I hold the magazine in my hands and read for several hours a week, barely doing it justice before the next issue arrives. I read it on my tablet when I am traveling; their app automatically downloads issues as they are available. I don't read their web site much, but YMMV. Whatever you have to pay is probably the smallest and most worthwhile investment expense you'll ever have. (IIRC my print/digital subscription runs about $125/year)

[MRG]

Quote:

Originally Posted by travelover I like financial TV shows where the host yells a lot and waves his arms. Really helps me zero in on my financial strategy.

Oh you have to get out more.

There was a site I used where the genius behind it would tell his clients to go blank off, amongst other classy insults.

Some folks paid a premium price to get an email that said you're ignorant, FOAD!

FYI: I w*rked in sawmills for 10 years, this guys command of foul, obscene, hateful language was amazing. I learned a lot.😁

[Lsbcal]

Quote:

Originally Posted by OldShooter +7 I am teaching an intro investing class and I tell students that I could sit down this afternoon and write three very credible stories about why tomorrow's market did what it did....

I don't see it that clear cut. Often that is true when markets are not moving that much but sometimes the markets react violently at the very moment an event occurs.

For example, I remember seeing a minute by minute view of the SP500 as the 9/11 events unfolded. As I recall by the time the second plane hit, the markets reacted extremely violently down. It was like a step function in time.

Often events affect only one major market segment like Apple earnings might not not just affect it but other tech stocks while energy stocks might be moving the opposite direction due to their industry specific news. News and events do affect pricing but they are not necessarily synchronized. Then there is momentum affects where slow news reactors can have delayed pricing affects.

[OldShooter]

Quote:

Originally Posted by Lsbcal I don't see it that clear cut. Often that is true when markets are not moving that much but sometimes the markets react violently at the very moment an event occurs. ...

Sure, but that doesn't detract from the main point. Most financial articles, particularly those about market action, are complete BS. Like 99% of them. The 1% of days, like 10/19/87, where something exciting happens might require a little more effort on the part of the author. But regardless, reading any of them for any purpose except entertainment is a waste of time. And there are better things to read for entertainment.

Nassim Taleb calls this "the narrative fallacy." From The Black Swan:

"The narrative fallacy addresses our limited ability to look at a sequence of facts without weaving an explanation into them ... Where this propensity goes wrong is it increases our impression of understanding."

[bingybear]

While I do mostly index investing ... it is not technically bogglehead investing. I am rather surprised how the bogglehead contingent shut the OP down for what they asked. It may be time to move on.

[DrRoy]

Quote:

FWIW most people on this forum who does investing based on asset-allocation and indexing don't follow financial news because the financial news add no value to your investment decisions.

+8

[brucethebroker]

No investing advice, just a clear view of the financial marketplace and events that might be shaping it: https://wolfstreet.com/

Interesting commentary on what is happening in politics as it relates to the economy/ finances-in one man's opinion. Again, no advice.

Both of these "watch" the bubbles and give opinions. A couple of very smart men.

[brucethebroker]

charles hugh smith-Weblog and Essays, sorry, forgot to ad the second site.

[Scuba]

I like the WSJ & Bloomberg. Also Fidelity's website is good for researching specific investments.

[gerntz]

Quote:

Originally Posted by pjigar FWIW most people on this forum who does investing based on asset-allocation and indexing don't follow financial news because the financial news add no value to your investment decisions.

So the markets drop 25% tomorrow & you're not going to use that info to correct your asset-allocation choice?

[garyt]

I like Seeking Alpha. I'll read the articles on stocks in my portfolio and often the comments are more enlightening than the article.

[ERD50]

Quote:

Originally Posted by gerntz Quote: Originally Posted by pjigar View Post FWIW most people on this forum who does investing based on asset-allocation and indexing don't follow financial news because the financial news add no value to your investment decisions. So the markets drop 25% tomorrow & you're not going to use that info to correct your asset-allocation choice?

I wouldn't. What is the media going to tell me that would make me change my AA? My AA is my AA. I may change it over time, based on age or maybe just figuring if my portfolio grew a lot, I could either decide I don't need to take any risk (already "won the game"), or that I could take a lot of risk (plenty of cushion). Either view is valid, IMO - it's just a personal choice.

But change AA on market conditions and "news". No, I can't see any reason to. In fact, just the opposite. I pick an AA I am comfortable with so that I don't change anything based on the market or "news".

What would you do? Sell on the drop?

-ERD50

[nash031]

Quote:

Originally Posted by gerntz So the markets drop 25% tomorrow & you're not going to use that info to correct your asset-allocation choice?

If a market movement forces you to want to change your asset allocation, you had the wrong asset allocation for you in the first place. This question indicates that you don’t really get the investing philosophy that sticks to an allocation. Many would balance withinheir allocation on a market drop, but shifting your allocation is no different than attempting to time the market, selling into a drop.

[Closet_Gamer]

Quote:

Originally Posted by GrayHare RealClearMarkets - Opinion, News, Analysis, Video and Polls posts fresh links daily to significant financial news and opinions.

+1. I get almost all my news/info from the "www.realclearxxxxx.com" sites. Excellent source for balanced suite of articles each day on politics, markets, world affairs, energy, science and more

[Lsbcal]

I think an AA has to be continuously considered at least yearly. So in the Boglehead world you do your ISP and it calls for some AA and maybe some actions (change as you age). Then that becomes a stone tablet? Well maybe not but some people think that.

But were you so brilliant as to understand your total risk tolerance, the market history, etc when you set up your ISP? The market evolves and even investment instruments evolve. Examples are TIPS becoming available in the last 20 years and before that index fund proliferation. And we evolve in our thinking. I know I am a different investor then I was even 10 years ago.

[OldShooter]

Quote:

Originally Posted by gerntz So the markets drop 25% tomorrow & you're not going to use that info to correct your asset-allocation choice?

Maybe, but not because of asset allocation numbers. There is no point in responding that fast. I would let things settle for a few months before making any decisions. Our regular look at AA is during the last week of the year.

There is an old piece of pilot advice on what to do in an emergency: "Wind the clock." The wisdom behind this is that if there is no time to wind the clock, then there is nothing to be done about the emergency anyway. Further, that winding the clock gives the pilot time to think things through before deciding what to do.

If I do something after a big drop, it will be to buy equities while they are on sale, regardless of AA. In fact I might temporarily alter my AA for this reason.

But generally, the financial press is a don't-care for me. Just a bunch of chattering monkeys, a few of which will be right but which few is impossible to know. The Economist a great read and keeps me up to date with the financial markets. A recent issue's cover story and theme: "The Bull Market in Everything" was excellent reading.

[nash031]

Quote:

Originally Posted by Lsbcal I think an AA has to be continuously considered at least yearly. So in the Boglehead world you do your ISP and it calls for some AA and maybe some actions (change as you age). Then that becomes a stone tablet? Well maybe not but some people think that. But were you so brilliant as to understand your total risk tolerance, the market history, etc when you set up your ISP? The market evolves and even investment instruments evolve. Examples are TIPS becoming available in the last 20 years and before that index fund proliferation. And we evolve in our thinking. I know I am a different investor then I was even 10 years ago.

It’s not a stone tablet, but your AA shouldnt change based on market conditions if you’re doing Bogleheads strategy. It changes based on personal need, age, risk tolerance, etc. not because the market is up or down. That defeats the purpose.

[jazz4cash]

Quote:

Originally Posted by Scuba I like the WSJ & Bloomberg. Also Fidelity's website is good for researching specific investments.

It's like asking the best pizza or best ice cream. There are many good choices but it really depends on what kind of investor you are. I like Bloomberg app and radio because they do long in depth coverage and the weekend programming is good too. They just removed Bloomberg TV from our cable package.

[wolf]

Quote:

Originally Posted by DrRoy +8

+9 or is it +10