Ditch the news and media

Hi,

I've learnt from a very successful businessman, that we really don't need the news, and the one that we need, is that impacts us mostly. He was well-informed about most word wide events, but he did not read articles, or better said, only a few. He was reading in the morning a small digest, from the topics he was interested and mostly the titles. On the other hand, when he was investing in something, he did a thorough research, with every angle that was needed to be taken into account. I've learned this the hard way, as research mitigates most of the risks, when investing.

Also, most of the news is robbing you time, this is what it does. Some people are paid by the amount of articles and their length, so they will try to produce as much text as it gets, without transmitting any relevant information.

Media is not independent any more, and media outlets, tend to follow a trend given by the owners on all political spectrum. Don't fall into that trap. It will eat your time, indoctrinate you, and you will just to defend a point of view that has been inoculated into your head, towards others, as you will feel personally attacked, if someone has a different view, then yours.

On the other hand, if you go into decision-making of investing, gather all the information available out there. On crypto for example, go for different news outlet, and also on platforms like ours. Read, think, analyse and make your own view. Remember, there are few outlets there, that don't follow an interest in something. Even of the paid services, there are few genuine out there. If someone is writing about investments, it shall disclose if it has the given asset in the portfolio, or if the person did bad press about, if he buys it after a drop.

For shares, I try to track the portfolio of politicians that are decision makers. You will be surprised how much they can decide in their favour. From infrastructure works, to catering. All is possible.

So, my take on the media is to discard it, especially the not needed one. Focus on your knowledge and growth. If you need to consume media, do it the smart way.

How about you? What do you think about news?

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