CNBC is the most
popular financial news source on the planet. However,
watching the cable news broadcasting channel can be both a blessing and
a curse to the Rogue Investor. In the blessing category,
the financial news is comprehensive, accurate, and up-to-date.
Among the excellent business and investing information provided is interviews with
company CEOs, profiles of relatively unknown businesses,
new business ideas, and overall trends in business conditions.
In the curse category, watching CNBC
and many other daily financial
news programs may lead to emotional attachment and resulting
anxiety.
Overall, humans have a natural curiosity that makes them
susceptible to wanting more and more information, especially
when it affects their pocket book. By providing
an incredible amount of information regarding current
market conditions, financial journalists do an excellent job of feeding
on this curiosity.
The catch: Rogue Investors need to realize that most
of the information presented on TV focuses on the short
term and has little value in the long-term process of
building wealth. If by watching
you start to feel anxiety or find yourself making poor,
short-term investment
decisions, it is time to back off.
The best investment
medicine often involves two steps. First, follow
the general market as little as possible. Great
investors focus on locating quality companies at a bargain
price with little regard for overall market conditions.
Second, if you find yourself continually wanting to watch
the cable financial news, consider visiting their web site instead.
When you read something, it is often easier to remain unemotional
in comparison to being influenced by someone's facial
expressions, tone of voice and other visual factors.
Control your emotions by having enough knowledge, patience
and an investing margin of safety, and you will be following
the advice of the world's greatest investors.
|