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Financial News as Noise
Old 11-03-2009, 02:36 PM   #1
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Financial News as Noise

So even though I'm not usually following financial news, I read an article today "US Stocks up Briskly on News" and at the bottom of the article are links:

PEOPLE WHO READ THIS ALSO READ
  • Stocks Start Lower On Concern About Financials</SPAN>
  • U.S. Stocks Begin Higher As Ford Profit Lifts Mood</SPAN>
  • U.S. Stocks Trim Gains; Nasdaq Turns Lower</SPAN>
  • U.S. Stocks Losses Accelerate, Led By Financials
So I guess the news today is that stocks are up, stocks are down, and stocks are turning both up and down.

Why did I bother tuning in this noise?
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Old 11-03-2009, 02:42 PM   #2
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Dunno. When I worked at an asset manager they had TVs all over the place tuned to CNBC. Never understood why, since its all blather that whole bunch of people who should know better constantly react to.
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Old 11-03-2009, 02:44 PM   #3
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I remember getting a panic call from (of all people) my older boss' brother about selling out of everything! everything! a few years ago. You could hardly hear him over the blaring CNBC in the background. Nutjob. I think he's been out of the market for 4 years now.
So glad we don't have a TV in our office.
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Old 11-03-2009, 05:55 PM   #4
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Quote:
Originally Posted by brewer12345 View Post
Dunno. When I worked at an asset manager they had TVs all over the place tuned to CNBC. Never understood why, since its all blather that whole bunch of people who should know better constantly react to.
If we're all going to to slightly better than average as Bogleheads, more than half of all investors have to fill in the below average transactions for us. Most of them are watching CNBC almost as religion, bless them.

And CNBC proves them right once in a while, so the wheel keeps turning. It's just like gamblers who talk up their winning nights but are more often quiet after their losing nights...never putting the whole picture together. It's what gives golf it's appeal too. Human nature is a curious thing...
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