When things are going well, no one cares.
But when the stuff hits the fan, suddenly we all snap to attention
High inflation and a down market and wars and politics and and and…
You might find yourself watching more (or any) financial news these days.
It’s tempting to try and see down the road where this is all heading.
Are we going to be okay?
Is it different this time?
When will it end?
And in looking for answers to those questions, it’s easy to find “experts” that share your opinion which reinforce whatever you’re already thinking.
“See?! I knew I was right!”
But be careful who you’re reading/listening to.
Do NOT listen to the dime-a-dozen, financial analysts, heads of capital markets, and all the other talking heads on the CNBC circuit.
And above all, don’t listen to financial journalists who like to “play house” and pretend like they’re seasoned veterans in all things investing and economics.
Financial journalists are to investing what movie critics are to movies.
Siskel and Ebert probably watched more movies in their lifetime than anyone else on the planet. But that didn’t give them the skills to make a great movie.
Stick with the greats – the Ray Dalios and the Warren Buffets of the world. Guys who have been in the trenches for 40, 50 or 60 years.
(Answer key: Yes. No. Nobody knows (not even Ray Dalio or Warren Buffet).)
