Investors have many different financial news outlets across various media channels from which to select to get their desired news. Most investors want to be informed – and information is usually good, but it depends on what it tells you. How do you discern between financial resources that benefit you and those that are best to avoid?
The Bias of News
As I mentioned in last month’s article, the media only survives if it can attract eyeballs and clicks. It must attract attention in a very loud and busy world and then keep that attention. The best way to do that is to ensure that its news provokes hot emotions such as anger, fear, sensationalism, and hyperbole.
Is a new agency bent on provoking and attending to hot emotions beneficial for you? Those don’t sound like emotions conducive to thoughtful decision-making. Nor are they emotions that identify with a happy and high quality of life.
The Media Often Misleads
News seldom pertains to just facts, especially financial news. Facts are interspersed among personal viewpoints, spurious forecasts, and whatever else they say to get you to tune in.
On Sept 5, 2024, Barron’s ran the following headline:
Stock Markets Must Heed Recession Alarm Bells; It’s Not Just a September Scare.
This ran on a day the markets hit all-time highs, and those highs continued throughout September. Not only do they sensationalize things, but they are often quite wrong. And that’s because their job isn’t to get anything right—it is just to get you to click.
I Am Your Best Financial Resource
The media may be 24/7 and promote many tantalizing headlines, but I am your best and most reliable financial resource. Not only do I understand your unique situation, goals, and plan, but I also have your best interest at heart.
Don’t hesitate to contact me with questions about what you read or hear. If the news concerns you, contact me. I am your best financial resource, no matter what is going on. That is an honor and a privilege for which I am very grateful.
Stay relentless,
Scott
Investment Advisor Representative of and advisory services are offered through Independent Wealth Network, Inc., a Registered Investment Advisor. Anthem Financial is not affiliated with Independent Wealth Network, Inc.
©The Behavioral Finance Network