Who Is the Media?
In the past, we’ve been known to take aim at the media. That’s because there may be consequences that are not beneficial to your personal wealth if you read, watch, or listen to too much news—or if you read too much into the news you’re reading.
It’s human nature to react to the onslaught of information with fits of fear, excitement, or confusion. These emotions, in turn, may lead to counterproductive, buy high/sell low investing.
Often, the media is partially to blame for this. They know what attracts our attention. They know this is rarely the evidence-based, sensible fare investors are better off digesting daily. Many members of the press choose to pander to our junk-news cravings and prioritize their own profits over a commitment to their craft.
Let's return to our question: Who is "the media"? We’re happy to report that not every member of the financial press is cut from the same self-serving cloth. There are financial journalists who could get away with manipulating us, but they choose not to. By understanding the difference, you may find it easier to identify who within the financial press is worth following, and who you would be best advised to “unlike."