About 3 months ago, I made a decision to stop watching CNBC and Bloomberg Financial News. At the time – stock market junkie that I am – those were the only two channels I watched.
As it stands now the only show I watch on cable is “Silicon Valley“.
“Why did a stock market junkie stop watching the financial news?” you ask?
I stopped watching because I wanted to kill the noise you hear from the many pundits that appear on those networks. The number of irresponsible comments and recommendations made by various guests on these programs started to make me sick.
One guy, whose name I can’t remember, actually told investors to get out of the market and try and get back in after the market moves lower. That piece of advice is outright scary! Listen…if anyone out there is capable of successfully timing the market, please let me know, so I can quit my job and help you raise as much money as possible!
This week has not been a great week for stocks…but I barely even noticed.
It’s not because I’m not paying attention. I watch the market every day.
It is because I am not exposed to the sensationalism that ensues whenever the market moves lower.
My emotions are calmer, and the only thing I wish during this downturn is that I had more money to put to work.
One of the best things I ever did to become a better investor is to stop watching TV and kill the noise!
Until next time…