Do you get your news — your investment ideas — from the news?
The media — meaning, newspapers and magazines and financial channels all report what HAS happened. And then they try to — painfully — predict what WILL happen in the future.
Look, the “predicting” business is a really bad business to be in. At Mullooly Asset Management, we stay far away from making these predictions. Instead, we focus on what’s happening right now. We’ve learned to accept that “what is, is” is a much better approach than trying to predict the future — like everyone else in the business is trying to do.
See, in case no one has told you, the stock market is a lot like snowflakes — no two markets are identical. So it becomes fruitless to try and compare what’s happening now with some similar scenario from the past.
It’s just a big waste of time.
Besides, by the time the story has reached the financial news channels or mainstream media, everybody knows about it. What is the value of that information?
We welcome your comments, and invite you to respond with your thoughts on this topic on our blog.