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Footage of people camped out at Best Buy or elsewhere is not remotely a celebration. Rather, it's a reminder of just how economically distressed a large percentage of our populace is.
Barry Ritholtz
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If you have read me for any length of time, you know I am less than enthralled with much of what passes for financial news.
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One thing I detest most about the financial press is the lack of accountability. All sorts of nonsense is said without penalty.
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If I am going to trash others for their dumb predictions, I must at least hold myself to the same sort of accountability.
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Truth be told, most financial television bores me. Two or more people discussing the latest economic trends or hot stocks is not especially entertaining.
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You want less of the annoying nonsense that interferes with your portfolios and more of the significant data that allow you to become a less distracted, more purposeful investor.
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Asset managers have different approaches, and I don't wish to suggest there is only one way to run money. There are many ways one can attempt to reduce risk, improve performance, lower drawdowns and reduce volatility.
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Amongst the financial Twitterati, the term 'muppets' has come to describe any client used and abused by some financial predator. I've adopted the term to describe portfolios that have been assembled for purposes other than serving the clients' best interests.
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'Returnless risk' is not how you prepare for a decent retirement.
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Narrative drives most of economics. Everything seems to be part of a story, and how that story is told often leads to critical error.
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Markets are frequently ahead of, and often out of sync with, the economy.
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It is in your DNA to love a good story. You know, neat tales with heroes and villains and conflicts to resolve. A good story pushes our buttons, is exciting and memorable.
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