I read and watch the news, especially as it has to do with politics and investments. With every new technology or application of that technology, disparate effects arise. My thought is simple: "Could does not equal should." (See 1 Cor 10:23) Just because there is a new way to transfer news, and/or manipulate that news, does not mean you should give it equal weight.
Lately Twitter is the format for sparking interest in stocks. This is mainly garbage, and you should be careful. You have no idea what the proponents of a certain stock propagate, and what they're pushing.
Tweeting was for keeping in touch with your friends, and for a few movie stars. Even jocks would tweet from the end zone after scoring a touchdown. It has moved way beyond that. I've always said, "Consider the source. Watch out to whom you are listening." Now, tweets are everywhere, commenting on everything. Be careful where you get your advice. First, find out what everyone gets out of the deal. Second, always have a healthy level of skepticism. Challenge all facts and numbers.
Mike Hogan writing in Barron's said, these tweets create a "misdirection for the misguided." Later he called it just noise and "pointless babble." These words are meant for the mindless comments made by unknowledgeable people. However, keep in mind, it's not just about the people, it's about muddy thinking, possibly by agenda driven propagandists.
If I could get a tweet from Warren Buffet (definitely not about his taxing comments) or from Peter Lynch, or from that renowned author of "Wall Street Money Machine," I'd be very happy. Consider the source. Is the message important, well founded and timely?
I wonder how I'm viewed. I comment on what I think are good ways to create income. I don't look at the market to find the next hot stock. I want to find and share the next hot strategy, or use and explain how to apply these strategies for making extra income.
What do you think? How am I doing? Watch for an upcoming blog on my comments the first part of August 2011. You'll then see how I thought and vicariously played the market at hand.
Abundantly yours, Wade
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