If you believe your financial advisor needs to be fully informed about what is going on in the market so that they can better look after things for you, then you have a fundamental misunderstanding about what the markets are, what somebody can do for you, and what are reasonable expectations.
A long term investment horizon strips away the need to know what is going on in the here and now. 99% of the sturm und drang created by the markets is simply noise.
Showing posts with label noise. Show all posts
Showing posts with label noise. Show all posts
Friday, April 3, 2015
Tuesday, December 10, 2013
Turn Off The Noise
Great advice from Charlie Munger:
"For decades I read almost all of The Wall Street Journal each day—and considerable portions of both The New York Times and The Los Angeles Times. I listened to the news on my ride to and from work, and at least a few times a week caught the national news on TV. By most common measures, I was clearly informed. But I was no wiser from it. All my wisdom came from my life experiences, my on-the-job observations, and the many books I started to read. Our job as investors is not merely to know what’s happening. We need to have appropriate context and perspective to understand the implications of what’s happening in order to make sensible choices."
"For decades I read almost all of The Wall Street Journal each day—and considerable portions of both The New York Times and The Los Angeles Times. I listened to the news on my ride to and from work, and at least a few times a week caught the national news on TV. By most common measures, I was clearly informed. But I was no wiser from it. All my wisdom came from my life experiences, my on-the-job observations, and the many books I started to read. Our job as investors is not merely to know what’s happening. We need to have appropriate context and perspective to understand the implications of what’s happening in order to make sensible choices."
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