The market makes us laugh sometimes.
The hapless hacks parading as serious analysts and commentators make us laugh too.
We see them all the time on CNBC and Bloomberg TV.
It’s typical mainstream stuff.
It’s all reactionary. There’s nothing proactive about them.
It’s why they always miss the biggest trends. And it’s why they’re in the throes of missing the biggest trend right now…
You should watch the business channels from time to time.
After a while, you notice that on any given day not that much happens in the financial markets. So once you’ve sat through the half-hour news cycle for the first time, you realise they have to repeat the same news cycle all day long.
That’s what makes it hypnotic. You try to guess the segment, the stock film footage, and which captions are coming up next.
You punch the air in excitement (in your mind) when you correctly remember that the footage of the big dumper truck goes with the story about mining stocks, and the clip of the scientist dropping liquid in a series of test tubes goes with the medical story.
That’s the mainstream. It’s boring. It’s predictable. But for most investors, it’s what they want…because it’s comfortable. [Read more →]