Following Mainstream Financial Media Will Lead You Down a Disastrous Road of Investing
August 18, 2006 -
Mainstream news is the famous bandwagon jumper. It’s not uncommon for headlines such as “Bull markets roar ahead!” to be followed by “Bear markets spell disaster for investors” to be followed by “Emerging markets booming!” to be followed by “Emerging markets spectacular run is over!” to be followed with “Gold: the next safe investment haven?” to be followed with “Gold has lost its Midas touch!” (i.e. Timothy Middleton, on the MSN money webpage, called gold a “poor investment” in February of 2006) all within weeks, sometimes just days, and yes, sometimes within just hours of each other.
For news agencies, the name of the game, just as it is with any other company, is money. News media companies earn the majority of their money from advertising revenue, much of it increasingly online. That is why you get such ridiculous headlines as news companies fight for the attention of the average web surfer. More proven hits to their site produces more advertising revenue for the company, whereas normal, boring dull and more truthful headlines would not do the trick. Therefore, the wildest headlines hit the stage.
To steal an analogy from one of my favorite movies, The Matrix, I strive to enlighten you with the red pill. We provide information that you will never read about in Bloomberg, Reuters, the Wall Street Journal or the BBC and news that they will never hear about on MSNBC or CNBC. I’ll take you “deep down the rabbit hole” to uncover the truth.
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