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been in the industry between 10-20y (being deliberately vague for identity), my media consumption went something like this

22-25 - have CNBC on in background at all times, read every analyst report I could find, listen to bloomberg radio in AM, and then lose myself in caroline hyde's eyes after the close, read foundational books like intelligent investor, security analysis, etc.

25-30 - building a clientele became more important, and began reading more books about finance than current reports, reframed my thinking and enhanced my distrust of experts and talking heads with no skin in the game, never posting their track records, and generally just became more skeptical

30-present - I read the WSJ on occasion and also industry reports. I get a better sense from value line, grant's, longer form newsletters (e.g. howard marks), blogs (ben carlson, morgan housel), and just knowing various levels (what're employment, inflation, rates, valuations at the moment, how does this compare with history, etc.) and then spend the rest of my time learning new pasta dishes, studying a language, or trying to figure out how to stop getting put into side control

I think if you're a long only investor, you reach the point of diminishing return far faster than you may think, so I believe less is more. here's an easy checl;ost to use to sniff out bullshitters (the vast majority of financial media types)

  • what is this person actually saying? are they saying anything or just blabbing on about nothing (I'm looking at you guy adami)
  • does this person have a vested interest in what they're saying becoming truth? OMG, how insightful that an EM fund manager is bullish on EM!
  • what's their track record? if they got right once (dennis lynch in 2021) but have not the best longer term track record, take what they have to say with a gigantic grain of salt
  • are they personally invested in the way that they're sharing with you?
  • are they lying with statistics? one of the worst crimes financial media does is using charts without things like reasonable p values and r-squared accompanying said charts. charts can look good but it can be a case of bad data, manipulating the scale/timeframe, as well as spurious correlation. stats are like POWs, with enough torture you can get them to say anything you want
 

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