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Clash of the Financial Pundits: How the Media Influences Your Investment Decisions for Better or Worse by Jeff Macke, Joshua M. Brown

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CHAPTER 1

THE MYTH OF THE MEDIA DIET

 

Our job is to find a few intelligent things to do, not to keep up with every damn thing in the world.—CHARLIE MUNGER

In a perfect world, you can put your money to work across stocks and bonds, cash and commodities, REITs and real estate, and be done with it. You can allow your invested assets to grow like mushrooms in the dark, and go through life utterly unfazed by the daily doings of others and the unfolding of economic and geopolitical developments in real time.

Sounds great, until you realize that this is not a perfect world and that news actually matters as it pertains to your portfolio. Things happen. These things can have an impact on the investments you’ve made and sometimes do require a reaction ...

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