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If you’ve been following the news – which, two of my recent posts concluded, is a mistake! – for the past six months or more, you’ll be forgiven for thinking that the earnings of ASX-listed firms are recovering and therefore that the market’s remarkable gains since March 2020 are … [Read more...] about Australia’s Earnings Depression

In my previous wire, I showed that overconsumption of news misinforms investors and wastes their time. But that’s not all: in this article, I cite evidence that overconsumption – particularly of news’ online and broadcast variants – hinders thinking. It doesn’t just cause your … [Read more...] about Investors beware: “News” impairs your mental and physical wellbeing

Shareholders and others sometimes ask: “where do you get the information you need to invest?” In response, I say something like: “every business day I scan headlines in major financial publications in Australia, Britain, Europe and North America. As a rule, I ignore opinion … [Read more...] about Why investors should ignore most “news”

In my previous wire, I highlighted a vital reality that hardly anybody has noticed (or, perhaps, wants to mention): remarkably few financial advisers, analysts, brokers, journalists, strategists and the like are financially independent. Few own sufficient investments to generate … [Read more...] about Why does your manager charge fees and pay salaries and bonuses?

It’s vitally important, yet hardly anybody has noticed it: remarkably few financial advisers, analysts, brokers, journalists, strategists and the like are financially independent. Few, in other words, own enough assets to generate a stream of income that finances their living … [Read more...] about Are you a customer, client or partner?