The never ending price ticker tacking across the bottom of the screen and the white noise of prognosticators pontificating is almost always present as investors work, research and trade.
For most, it is nothing but a distraction from the discipline needed to be successful. Specific suggestions to profit are few and far between and anxiety is almost guaranteed.
The mission of financial television isn’t to help you make money.
Infotainment on CNBC, Bloomberg and FOX Business is big business as the major players raise the emotion to epic levels on even mundane market developments.
Think about the last time a TV contributor or guest told you what, when and at the price to buy or sell with specifics.
The “breaking news” alert is subject to overuse with the network goal to keep viewers engaged and fearful that they will miss crucial developments. Ads need to be sold to pay their bills regardless of the activity in the markets.
News is often noise as it is more times than not factored in. Unless the information is different than expectations, the impact is minimal.
Not so for financial networks who build up every report release as a can’t miss event.
Emotion is a destructive force for investors.
The talking heads boost their book or opine often about ideology. Those positions and politics should have little impact on any individual investment decision.
Daily predictions of a catastrophic crash put everyone on edge.
Risk control must be a focus but much like selecting dates and places of earthquakes calling the market breakdown is an equally inexact science.
Chatter about a major market price correction, which can always happen, get unfounded attention and has a long list of those who have been wrong for more than five years.
The strength to turn the off the TV is often a function of confidence. An investor with a plan is not subject to the bulls, bears, dreamers or believers that are on our airways.
Discipline is key, and the ability to block out the never ending nonsense and noise from the magic picture box.
