By Al Thomas
I am listening to TV.
If an alien from another solar system sat down next to me to find out what is going on in this world I think he would be more confused than enlightened.
We would see “This Week” on ABC; “Meet the Press” on NBC; “Face the Nation” on CBS; “State of the Union” on CNN and “Fox News Sunday” on FOX. This is noise..
Maybe my alien friend got something out of those “experts”, but I sure was confused. Is there any way to know what really is the truth?
Each person has an agenda. Every one sounds sincere and presents facts (?) to support a particular position. Strangely, an opponent will take those same facts (?) to disprove the argument of the other person. Now I am more confused than ever.
Also those watching come with their personal agendas, likes and dislikes. Those with strong emotional ties will not be swayed by truth. Their thinking has been routed by the the signs that theirs is the correct highway. They refuse to note they are going south when the destination is north.
To all, myself included, we come to every fork in the road with a truckload of opinions, beliefs and prejudices that influence a decision about which road to travel. Even when a logical statement is presented we find reasons to oppose it. It means we have to give up one of our favorite beliefs. It means we have been wrong. No one likes to be wrong so most folks shut their minds and continue down the wrong road.
That is why certain people are successful investors in the stock and commodity markets and others are not. The professional trader is always looking to see where he is wrong. He is ready to change his mind in a split second.
The professional thinker (financial and otherwise) understands it is OK to be wrong, but not OK to stay wrong.
Having been an exchange member and floor trader for 17 years I saw new members come and go. The newbie who could not change his mind quickly lasted about 6 weeks and went broke. Those who liked to fade the action (go against the trend) didn't last that long.
There is huge amount of meaningless noise surrounding the equity makes. In my years of experience I have found all the information (noise) does not contribute to my bottom line.
Performance is all that counts whether it be in the price action of the stock or the personal performance of the candidate. If the stock is going up I want to own it. If the candidate has shown ability to create good things for the economy he is my man. Who cares about parties or other extraneous things. Talk is cheap. Only results count.
What does the thinking man do?
Al Thomas' new book, "If It Doesn't Go Up, Don't Buy It!", 3rd edition, has helped thousands of people make money and keep their profits with his simple 2-step method. The method made 10% during 2008. Read the first chapter at http://www.mutualfundmagic.com and discover why he's the man that Wall Street does not want you to know. Copyright 2010 Williamsburg Investment Co. All rights reserved.