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May 28, 2020

“AAAAAAaaaahhhhh!” He Recommended

You may be under the impression that when it comes to financial advice, you want a sober assessment of market conditions to ensure that your investment decisions are being made on a rational rather than emotional basis.

This could not be further from the truth. Keep in mind, we’re talking about your nest egg here, the money you have carefully put away for yourself and your family’s financial security. What you really want is something more hysterical, ideally a knee-jerk reaction based on an almost lizard-brain response that in no way takes into account anything beyond the current moment.

We saw this very scenario play out on CNBC yesterday with Andrew Sorkin and Joe Kernen, both morning anchors on the popular business cable channel.

As you can see, Andrew Sorkin was trying to patiently scream about how he was “arguing about people’s lives,” while Joe Kernen, for reasons known only to him, decided instead to focus on consumer and business matters on the Consumer News Business Channel and speak in a voice bordering on normal about how instead of engaging in panic and fear mongering as Sorkin had done, he had suggested people keep their cool when the market was plunging back in March.

You can tell how much more correct Sorkin is by how loudly he is speaking.  That’s always a good sign that you’re getting the advice you need.

At one point during the debate, Sorkin calmly shrieked that all Kernen was doing was trying “to help your friend the president.”

It is exactly this kind of wholly irrelevant information that is critical to the appropriate allocation of your investment funds.

Sure, you could listen to someone like Joe Kernen, who regularly drones on about how people should keep their head when fear grips the market and stocks plummet, but where would that leave you? Besides richer, we mean. 

That’s right, you’d be left with barely any opportunity to luxuriate in your own self-righteous outrage. 

It feels good, doesn’t it?  A lot better than a secure retirement, that’s for sure!

So, the next time you’re seeking out investment advice, forget about what the market is signaling, and think instead about who is virtue signaling.

J.

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May 28, 2020 at 09:20 PM in Current Affairs | Permalink

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