When I began my career as a financial adviser, the Nightly Business Report aired from 6:30-7pm every weeknight and provided a compilation of financial news, earnings and economic data and a brief interview each evening with a leading economist or portfolio manager. Paul Kangas hosted and helped pioneer television’s first daily business news show for 30 years.
Financial journalism has evolved since then into a 24 hour per day, 7 day per week projection of sound bites, scrolling zippers and countdown clocks that always ask unanswerable questions to drive viewers’ attention and anxiety levels. Rather than promoting the time tested skills of truly successful investors, the talking heads and teleprompter readers seem to encourage short term trading based upon reaction to headlines that may inevitably lead to financial mistakes.
To be successful at attaining your investment goals, you must be positive in your general outlook on life, have an investment discipline that will not permit reaction to be your investment strategy, and be patient while understanding the business you have invested in. As long as we are able to be, to do, and to own in this country (the essence of capitalism and freedom), the value of well managed businesses should grow over time.
So change the channel and enjoy life.
– Randy Hutchisson
Any opinions are those of author and not necessarily those of Raymond James. Expressions of opinion are as of this date and are subject to change without notice. Every investor's situation is unique and you should consider your investment goals, risk tolerance and time horizon before making any investment.