1442: Why Stock Investors Shouldn't Watch TV by Vitaliy Katsenelson of Contrarian Edge on Investment Strategies

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Investing, Education, Business, Self-improvement

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🗓️ 19 February 2021

⏱️ 8 minutes

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Summary

Vitaliy Katsenelson of Contrarian Edge cautions stock investors to not watch TV. Episode 1442: Why Stock Investors Shouldn't Watch TV by Vitaliy Katsenelson of Contrarian Edge on Investment Strategies Vitaliy Katsenelson is the CEO and Chief Investment Officer at Investment Management Associates. He has written two books on investing, which were published by John Wiley & Sons and have translated into eight languages. The original post is located here: https://contrarianedge.com/why-stock-investors-shouldnt-watch-business-tv/ Visit Me Online at OLDPodcast.com Interested in advertising on the show? https://www.advertisecast.com/OptimalFinanceDaily Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	This is Optimal Finance Daily episode 1442, why stock investors shouldn't watch business TV,
0:07.2	by Vitale Casanelson of ContrarianEdge.com. And I'm your host and personal finance enthusiast,
0:14.0	Diana Mariam. This is the show where I read to you from some of the best personal finance
0:18.5	blogs on the planet, sometimes a little too enthusiastically. But I can't help it,
0:23.4	money is an incredible resource that we can use to craft the life of our dreams.
0:27.8	So thanks for joining me today and every day. So for now, let's get right to it and start
0:33.2	optimizing your life. Why stock investors shouldn't watch business TV, by Vitale Casanelson of ContrarianEdge.com.
0:46.4	Investors are prone to two opposing but equally debilitating fears. The fear of missing out when
0:52.7	times are good and the fear of loss when markets are volatile. These two fears have a zero
0:58.7	sum relationship with rational decisions. The more you're dominated by these fears, the less
1:04.1	rational you are. So what can we do as investors to move towards maximum rationality? Here's one
1:10.8	piece of advice. Turn off the TV. We rarely turn on business TV in our office. Stock market
1:18.5	movements throughout the day are completely random. The same actors that are influencing the
1:23.5	up and down ticks of individual stocks. Actors whose goals and time horizons may have nothing in
1:29.1	common with yours are driving market movements. I feel for TV producers who must provide a
1:35.3	continuous narrative to explain this randomness. Business TV presents additional dangers to your
1:41.3	rationality. It reprograms you to think about the stock market as a game. In encouraging you to play
1:47.6	that game, it puts you at risk of nullifying all the research you've done as you let your time
1:52.9	horizon dwindle from years to minutes. It also threatens to strip from you the humility that is
1:59.4	so needed in investing. Business TV guests who provide their opinions on stocks have to project an
2:05.9	image of infallibility, the opposite of humility. Again, I sympathize with them. They're there to
2:12.7	market themselves in their business and thus they must project the image that they have an IQ of
	...

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